Spyre Therapeutics, Inc. (NASDAQ:SYRE) Receives $48.57 Average Price Target from Brokerages

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) have received an average rating of “Buy” from the eight brokerages that are covering the company, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $48.57.

SYRE has been the subject of a number of analyst reports. Guggenheim increased their target price on Spyre Therapeutics from $50.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Wedbush reissued an “outperform” rating and set a $45.00 target price on shares of Spyre Therapeutics in a research note on Friday, November 8th. Finally, Robert W. Baird boosted their price target on Spyre Therapeutics from $50.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th.

Institutional Investors Weigh In On Spyre Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Amalgamated Bank acquired a new position in Spyre Therapeutics during the 2nd quarter valued at approximately $28,000. Quest Partners LLC acquired a new position in Spyre Therapeutics during the 2nd quarter valued at approximately $36,000. SG Americas Securities LLC acquired a new position in Spyre Therapeutics during the 2nd quarter valued at approximately $130,000. Intech Investment Management LLC bought a new stake in Spyre Therapeutics during the 3rd quarter valued at $246,000. Finally, Carlyle Group Inc. bought a new stake in Spyre Therapeutics during the 2nd quarter valued at $227,000. 80.39% of the stock is owned by institutional investors and hedge funds.

Spyre Therapeutics Trading Up 6.0 %

Shares of NASDAQ SYRE opened at $27.08 on Wednesday. Spyre Therapeutics has a twelve month low of $14.22 and a twelve month high of $47.97. The stock has a 50 day moving average of $30.91 and a two-hundred day moving average of $29.52. The stock has a market cap of $1.39 billion, a P/E ratio of -3.63 and a beta of 2.82.

Spyre Therapeutics Company Profile

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).