Spyre Therapeutics, Inc. (NASDAQ:SYRE) Receives Average Rating of “Buy” from Analysts

Spyre Therapeutics, Inc. (NASDAQ:SYRE) has received a consensus recommendation of “Buy” from the seven ratings firms that are covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $51.50.

A number of analysts recently weighed in on SYRE shares. Robert W. Baird increased their price target on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Guggenheim increased their target price on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Wedbush reissued an “outperform” rating and issued a $45.00 price target on shares of Spyre Therapeutics in a report on Friday, November 8th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SYRE. Avoro Capital Advisors LLC acquired a new stake in shares of Spyre Therapeutics in the second quarter valued at approximately $43,238,000. Assenagon Asset Management S.A. acquired a new stake in Spyre Therapeutics during the third quarter worth approximately $33,609,000. Wellington Management Group LLP raised its holdings in Spyre Therapeutics by 89.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,507,200 shares of the company’s stock valued at $44,327,000 after acquiring an additional 711,254 shares in the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Spyre Therapeutics during the 2nd quarter valued at $16,153,000. Finally, Farallon Capital Management LLC acquired a new stake in shares of Spyre Therapeutics during the 2nd quarter worth $15,658,000. Institutional investors own 80.39% of the company’s stock.

Spyre Therapeutics Trading Up 2.4 %

NASDAQ SYRE opened at $23.85 on Friday. Spyre Therapeutics has a 12 month low of $18.54 and a 12 month high of $47.97. The stock has a 50-day simple moving average of $28.59 and a 200 day simple moving average of $28.16. The company has a market capitalization of $1.23 billion, a PE ratio of -3.19 and a beta of 2.82.

About Spyre Therapeutics

Spyre Therapeutics, Inc, a preclinical stage biotechnology company, focuses on developing therapeutics for patients living with inflammatory bowel disease (IBD). It develops SPY001, a human monoclonal immunoglobulin G1 antibody designed to bind selectively to the a4ß7 integrin being developed for the treatment of IBD (ulcerative colitis and Crohn's disease).