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

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) have earned an average recommendation of “Buy” from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $54.83.

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

Institutional Trading of Spyre Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of Spyre Therapeutics by 1.5% during the 3rd quarter. FMR LLC now owns 7,623,881 shares of the company’s stock worth $224,218,000 after purchasing an additional 115,898 shares during the last quarter. Perceptive Advisors LLC raised its stake in Spyre Therapeutics by 18.6% in the second quarter. Perceptive Advisors LLC now owns 3,031,018 shares of the company’s stock valued at $71,259,000 after buying an additional 474,339 shares during the period. State Street Corp lifted 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 during the last quarter. Wellington Management Group LLP boosted its stake in shares of Spyre Therapeutics by 89.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,507,200 shares of the company’s stock worth $44,327,000 after acquiring an additional 711,254 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Spyre Therapeutics during the 3rd quarter worth approximately $33,609,000. 80.39% of the stock is owned by institutional investors.

Spyre Therapeutics Stock Performance

Shares of SYRE opened at $21.82 on Thursday. The firm has a market cap of $1.12 billion, a P/E ratio of -2.92 and a beta of 2.86. Spyre Therapeutics has a twelve month low of $20.07 and a twelve month high of $47.97. The firm’s 50 day moving average price is $24.91 and its two-hundred day moving average price is $27.97.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($1.36) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.56). On average, sell-side analysts anticipate that Spyre Therapeutics will post -4.46 earnings per share for the current fiscal year.

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).