Analysts Set Spyre Therapeutics, Inc. (NASDAQ:SYRE) PT at $46.43

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) have been assigned an average rating of “Buy” from the ten ratings firms that are currently covering the company, Marketbeat.com reports. Ten equities research analysts have rated the stock with a buy recommendation. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $48.57.

A number of equities analysts recently commented on SYRE shares. Guggenheim upped their target price on Spyre Therapeutics from $50.00 to $65.00 and gave the company a “buy” rating in a report on Friday, October 25th. Robert W. Baird increased their target price on Spyre Therapeutics from $50.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Wedbush reaffirmed an “outperform” rating and set a $45.00 price target on shares of Spyre Therapeutics in a report on Friday, November 8th.

Spyre Therapeutics Stock Performance

Shares of SYRE stock opened at $32.98 on Friday. Spyre Therapeutics has a fifty-two week low of $8.75 and a fifty-two week high of $47.97. The stock has a 50 day moving average price of $31.25 and a two-hundred day moving average price of $30.44. The company has a market capitalization of $1.70 billion, a P/E ratio of -4.41 and a beta of 2.90.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SYRE. Avoro Capital Advisors LLC purchased a new position in shares of Spyre Therapeutics during the 2nd quarter valued at about $43,238,000. Assenagon Asset Management S.A. purchased a new position in shares of Spyre Therapeutics during the 3rd quarter valued at about $33,609,000. Driehaus Capital Management LLC purchased a new position in shares of Spyre Therapeutics during the 2nd quarter valued at about $16,153,000. Farallon Capital Management LLC bought a new stake in Spyre Therapeutics during the 2nd quarter valued at approximately $15,658,000. Finally, Logos Global Management LP bought a new stake in Spyre Therapeutics during the 2nd quarter valued at approximately $13,518,000. 80.39% of the stock is owned by hedge funds and other institutional investors.

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).