Spyre Therapeutics (NASDAQ:SYRE) Upgraded at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Spyre Therapeutics (NASDAQ:SYRE) to a strong-buy rating in a report released on Tuesday,Zacks.com reports.

Other equities research analysts have also issued reports about the company. Guggenheim upped their price objective 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 reiterated an “outperform” rating and issued a $65.00 price target on shares of Spyre Therapeutics in a research note on Monday, January 13th. Finally, Robert W. Baird increased 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. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $54.83.

Spyre Therapeutics Price Performance

NASDAQ:SYRE opened at $22.41 on Tuesday. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -3.00 and a beta of 2.85. Spyre Therapeutics has a one year low of $20.07 and a one year high of $47.97. The business has a fifty day moving average price of $22.84 and a 200-day moving average price of $27.01.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. GF Fund Management CO. LTD. purchased a new position in shares of Spyre Therapeutics during the fourth quarter valued at about $29,000. Huntington National Bank purchased a new position in shares of Spyre Therapeutics during the fourth quarter valued at about $34,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Spyre Therapeutics during the fourth quarter valued at about $46,000. Quest Partners LLC grew its position in shares of Spyre Therapeutics by 271.2% during the third quarter. Quest Partners LLC now owns 5,654 shares of the company’s stock valued at $166,000 after purchasing an additional 4,131 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Spyre Therapeutics during the fourth quarter valued at about $182,000. Hedge funds and other institutional investors own 80.39% of the company’s stock.

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).