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

Spyre Therapeutics, Inc. (NASDAQ:SYRE) has received an average recommendation of “Buy” from the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $54.83.

SYRE has been the subject of several analyst reports. 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. Robert W. Baird upped their price target on Spyre Therapeutics from $50.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Wedbush reaffirmed an “outperform” rating and set a $65.00 price objective on shares of Spyre Therapeutics in a research report on Monday, January 13th. Finally, The Goldman Sachs Group raised shares of Spyre Therapeutics to a “strong-buy” rating in a report on Tuesday.

Spyre Therapeutics Trading Down 5.0 %

Shares of SYRE stock opened at $21.29 on Monday. The company has a 50 day simple moving average of $22.78 and a two-hundred day simple moving average of $26.98. The stock has a market cap of $1.09 billion, a P/E ratio of -2.85 and a beta of 2.85. Spyre Therapeutics has a 12 month low of $20.07 and a 12 month high of $47.97.

Institutional Trading of Spyre Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in SYRE. GF Fund Management CO. LTD. bought a new stake in shares of Spyre Therapeutics during the fourth quarter valued at approximately $29,000. Huntington National Bank purchased a new position in Spyre Therapeutics during the fourth quarter valued at $34,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Spyre Therapeutics in the 4th quarter valued at $46,000. Quest Partners LLC lifted its stake in Spyre Therapeutics by 271.2% in the 3rd quarter. Quest Partners LLC now owns 5,654 shares of the company’s stock worth $166,000 after purchasing an additional 4,131 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in Spyre Therapeutics in the 4th quarter worth $182,000. 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).