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

Spyre Therapeutics, Inc. (NASDAQ:SYRE) has been given a consensus rating of “Buy” by the eight brokerages that are covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $54.83.

A number of brokerages have recently issued reports on SYRE. The Goldman Sachs Group upgraded Spyre Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 18th. Wedbush reiterated an “outperform” rating and set a $65.00 target price on shares of Spyre Therapeutics in a research report on Monday, January 13th. Finally, Robert W. Baird increased their target price on Spyre Therapeutics from $50.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. purchased a new position in Spyre Therapeutics in the 4th quarter valued at $29,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Spyre Therapeutics by 85.2% in 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 purchasing an additional 22,540 shares in the last quarter. Woodline Partners LP lifted its holdings in Spyre Therapeutics by 33.5% in the 4th quarter. Woodline Partners LP now owns 352,680 shares of the company’s stock valued at $8,210,000 after purchasing an additional 88,424 shares in the last quarter. Squarepoint Ops LLC raised its holdings in shares of Spyre Therapeutics by 79.7% during the 4th quarter. Squarepoint Ops LLC now owns 15,231 shares of the company’s stock worth $355,000 after acquiring an additional 6,754 shares during the period. Finally, RTW Investments LP raised its holdings in shares of Spyre Therapeutics by 11.2% during the 4th quarter. RTW Investments LP now owns 3,621,996 shares of the company’s stock worth $84,320,000 after acquiring an additional 363,636 shares during the period. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Spyre Therapeutics Price Performance

Shares of NASDAQ:SYRE opened at $21.29 on Monday. Spyre Therapeutics has a 1 year low of $20.07 and a 1 year high of $47.97. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -2.85 and a beta of 2.85. The business’s 50 day moving average price is $22.78 and its 200-day moving average price is $27.00.

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).