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

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) have been given a consensus recommendation of “Buy” by the seven ratings firms that are presently covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $51.50.

Several research analysts have recently issued reports on SYRE shares. Robert W. Baird increased their price target on Spyre Therapeutics from $50.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Wedbush restated an “outperform” rating and set a $45.00 price target on shares of Spyre Therapeutics in a report on Friday, November 8th. Finally, Guggenheim upped 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.

Institutional Trading of Spyre Therapeutics

A number of hedge funds have recently bought and sold shares of the company. 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 during the 2nd quarter valued at about $36,000. Carlyle Group Inc. purchased a new stake in Spyre Therapeutics in the second quarter worth approximately $227,000. Intech Investment Management LLC bought a new stake in shares of Spyre Therapeutics in the third quarter worth $246,000. Finally, Profund Advisors LLC purchased a new position in shares of Spyre Therapeutics in the second quarter worth approximately $296,000. Institutional investors own 80.39% of the company’s stock.

Spyre Therapeutics Stock Up 2.4 %

Spyre Therapeutics stock opened at $23.85 on Friday. The stock has a market cap of $1.23 billion, a PE ratio of -3.19 and a beta of 2.82. Spyre Therapeutics has a 12-month low of $18.54 and a 12-month high of $47.97. The business’s 50-day moving average price is $28.59 and its two-hundred day moving average price is $28.16.

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).