Spyre Therapeutics (NASDAQ:SYRE) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Spyre Therapeutics (NASDAQ:SYRE) had its price target hoisted by Robert W. Baird from $50.00 to $65.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 107.87% from the stock’s current price.

SYRE has been the topic of a number of other reports. Guggenheim boosted their price objective on Spyre Therapeutics from $50.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Wedbush reiterated an “outperform” rating and issued a $45.00 target price on shares of Spyre Therapeutics in a research report on Friday, November 8th. Finally, Evercore ISI assumed coverage on Spyre Therapeutics in a research report on Tuesday, July 16th. They set an “outperform” rating on the stock. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $48.57.

Spyre Therapeutics Stock Performance

Shares of Spyre Therapeutics stock opened at $31.27 on Wednesday. The stock has a market capitalization of $1.61 billion, a P/E ratio of -4.19 and a beta of 2.90. Spyre Therapeutics has a 52-week low of $8.75 and a 52-week high of $47.97. The stock’s 50-day simple moving average is $31.32 and its 200 day simple moving average is $30.44.

Institutional Trading of Spyre Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Amalgamated Bank purchased a new stake in Spyre Therapeutics in the second quarter worth $28,000. Quest Partners LLC purchased a new stake in shares of Spyre Therapeutics in the second quarter worth $36,000. SG Americas Securities LLC bought a new position in shares of Spyre Therapeutics during the second quarter valued at $130,000. Carlyle Group Inc. bought a new position in Spyre Therapeutics in the 2nd quarter worth about $227,000. Finally, Intech Investment Management LLC purchased a new position in Spyre Therapeutics in the third quarter worth about $246,000. Institutional investors own 80.39% of the company’s stock.

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).