The stock price of Spyre Therapeutics Inc (NASDAQ: SYRE) has dropped by -5.27 compared to previous close of 28.67. Despite this, the company has seen a fall of -24.18% in its stock price over the last five trading days. prnewswire.com reported 2024-11-18 that WALTHAM, Mass., Nov. 18, 2024 /PRNewswire/ — Spyre Therapeutics, Inc. (“Spyre” or the “Company”) (NASDAQ: SYRE), a clinical-stage biotechnology company utilizing best-in-class antibody engineering, rational therapeutic combinations, and precision medicine approaches to target improved efficacy and convenience in the treatment of inflammatory bowel disease (“IBD”), today announced the pricing of its previously announced underwritten public offering of 7,275,000 shares of its common stock at a price to the public of $27.50 per share.
Is It Worth Investing in Spyre Therapeutics Inc (NASDAQ: SYRE) Right Now?
Additionally, the 36-month beta value for SYRE is 2.88. There are mixed opinions on the stock, with 10 analysts rating it as a “buy,” 6 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
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The public float for SYRE is 42.65M and currently, short sellers hold a 19.34% ratio of that float. The average trading volume of SYRE on November 19, 2024 was 498.40K shares.
SYRE’s Market Performance
SYRE’s stock has seen a -24.18% decrease for the week, with a -16.25% drop in the past month and a 2.22% gain in the past quarter. The volatility ratio for the week is 10.04%, and the volatility levels for the past 30 days are at 7.18% for Spyre Therapeutics Inc. The simple moving average for the past 20 days is -20.26% for SYRE’s stock, with a -13.10% simple moving average for the past 200 days.
Analysts’ Opinion of SYRE
Many brokerage firms have already submitted their reports for SYRE stocks, with Wedbush repeating the rating for SYRE by listing it as a “Outperform.” The predicted price for SYRE in the upcoming period, according to Wedbush is $45 based on the research report published on September 04, 2024 of the current year 2024.
Robert W. Baird gave a rating of “Outperform” to SYRE, setting the target price at $50 in the report published on May 02nd of the current year.
SYRE Trading at -13.27% from the 50-Day Moving Average
After a stumble in the market that brought SYRE to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -43.38% of loss for the given period.
Volatility was left at 7.18%, however, over the last 30 days, the volatility rate increased by 10.04%, as shares sank -20.20% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -3.33% lower at present.
During the last 5 trading sessions, SYRE fell by -23.93%, which changed the moving average for the period of 200-days by +7.66% in comparison to the 20-day moving average, which settled at $34.07. In addition, Spyre Therapeutics Inc saw 26.21% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at SYRE starting from Albers Jeffrey W., who sale 6,700 shares at the price of $36.76 back on Nov 06 ’24. After this action, Albers Jeffrey W. now owns 27,360 shares of Spyre Therapeutics Inc, valued at $246,313 using the latest closing price.
Albers Jeffrey W., the Director of Spyre Therapeutics Inc, sale 300 shares at $36.43 during a trade that took place back on Oct 25 ’24, which means that Albers Jeffrey W. is holding 34,060 shares at $10,929 based on the most recent closing price.
Stock Fundamentals for SYRE
Current profitability levels for the company are sitting at:
- -185.44 for the present operating margin
- 0.07 for the gross margin
The net margin for Spyre Therapeutics Inc stands at -206.24. The total capital return value is set at -0.53. Equity return is now at value -414.82, with -54.13 for asset returns.
Currently, EBITDA for the company is -242.3 million with net debt to EBITDA at 0.37. When we switch over and look at the enterprise to sales, we see a ratio of 1268.42. The liquidity ratio also appears to be rather interesting for investors as it stands at 7.32.
Conclusion
In conclusion, Spyre Therapeutics Inc (SYRE) has seen mixed performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
