Spyre Therapeutics, Inc. (NASDAQ:SYRE) Receives $54.83 Average Price Target from Brokerages

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) have received an average rating of “Buy” from the seven research firms that are covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $54.83.

A number of equities analysts have weighed in on SYRE shares. Robert W. Baird increased their target price on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Guggenheim raised their price objective on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Wedbush reissued an “outperform” rating and set a $65.00 target price on shares of Spyre Therapeutics in a report on Monday, January 13th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. GF Fund Management CO. LTD. purchased a new position in Spyre Therapeutics during the fourth quarter worth about $29,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Spyre Therapeutics by 85.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 48,981 shares of the company’s stock valued at $1,140,000 after acquiring an additional 22,540 shares during the last quarter. Woodline Partners LP grew its holdings in shares of Spyre Therapeutics by 33.5% during the fourth quarter. Woodline Partners LP now owns 352,680 shares of the company’s stock worth $8,210,000 after purchasing an additional 88,424 shares in the last quarter. Squarepoint Ops LLC increased its position in shares of Spyre Therapeutics by 79.7% in the fourth quarter. Squarepoint Ops LLC now owns 15,231 shares of the company’s stock worth $355,000 after purchasing an additional 6,754 shares during the last quarter. Finally, RTW Investments LP raised its stake in Spyre Therapeutics by 11.2% in the fourth quarter. RTW Investments LP now owns 3,621,996 shares of the company’s stock valued at $84,320,000 after purchasing an additional 363,636 shares in the last quarter. Institutional investors own 80.39% of the company’s stock.

Spyre Therapeutics Stock Performance

SYRE stock opened at $22.37 on Monday. The stock has a fifty day moving average of $22.87 and a 200-day moving average of $27.04. Spyre Therapeutics has a fifty-two week low of $20.07 and a fifty-two week high of $47.97. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -2.99 and a beta of 2.85.

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).