Spyre Therapeutics, Inc. (NASDAQ:SYRE) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) have earned a consensus recommendation of “Buy” from the eight analysts that are presently covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $54.83.

Several brokerages have recently issued reports on SYRE. The Goldman Sachs Group upgraded Spyre Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 18th. Wedbush restated an “outperform” rating and issued a $65.00 price objective on shares of Spyre Therapeutics in a research note on Monday, January 13th.

Spyre Therapeutics Stock Performance

Shares of NASDAQ SYRE opened at $18.03 on Friday. The company has a market cap of $1.09 billion, a PE ratio of -2.41 and a beta of 2.98. The business has a 50-day simple moving average of $21.65 and a two-hundred day simple moving average of $26.41. Spyre Therapeutics has a fifty-two week low of $17.24 and a fifty-two week high of $47.97.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.08. On average, sell-side analysts predict that Spyre Therapeutics will post -4.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Barclays PLC increased its position in shares of Spyre Therapeutics by 64.7% in the third quarter. Barclays PLC now owns 105,467 shares of the company’s stock valued at $3,101,000 after buying an additional 41,424 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Spyre Therapeutics in the fourth quarter valued at approximately $290,000. Charles Schwab Investment Management Inc. increased its position in shares of Spyre Therapeutics by 239.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 333,275 shares of the company’s stock valued at $9,802,000 after buying an additional 235,094 shares in the last quarter. Jane Street Group LLC increased its position in shares of Spyre Therapeutics by 78.7% in the third quarter. Jane Street Group LLC now owns 20,641 shares of the company’s stock valued at $607,000 after buying an additional 9,090 shares in the last quarter. Finally, State Street Corp increased its position in shares of Spyre Therapeutics by 9.4% in the third quarter. State Street Corp now owns 1,541,555 shares of the company’s stock valued at $45,337,000 after buying an additional 131,896 shares in the last quarter. 80.39% of the stock is currently owned by hedge funds and other institutional investors.

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).