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

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) have been assigned an average recommendation of “Buy” from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $51.50.

Several brokerages have issued reports on SYRE. Guggenheim boosted their target price on Spyre Therapeutics from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Robert W. Baird boosted their price objective on Spyre Therapeutics from $50.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Wedbush reiterated an “outperform” rating and issued a $45.00 target price on shares of Spyre Therapeutics in a research note on Friday, November 8th.

Institutional Investors Weigh In On Spyre Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Avoro Capital Advisors LLC purchased a new position in shares of Spyre Therapeutics during the second quarter valued at $43,238,000. Assenagon Asset Management S.A. bought a new position in Spyre Therapeutics during the 3rd quarter worth about $33,609,000. Wellington Management Group LLP increased its position in Spyre Therapeutics by 89.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,507,200 shares of the company’s stock valued at $44,327,000 after purchasing an additional 711,254 shares during the period. Driehaus Capital Management LLC bought a new stake in shares of Spyre Therapeutics in the 2nd quarter valued at about $16,153,000. Finally, Farallon Capital Management LLC purchased a new stake in shares of Spyre Therapeutics in the 2nd quarter worth approximately $15,658,000. 80.39% of the stock is owned by institutional investors.

Spyre Therapeutics Trading Down 1.7 %

SYRE stock opened at $23.67 on Friday. The stock has a market cap of $1.22 billion, a PE ratio of -3.17 and a beta of 2.82. Spyre Therapeutics has a 12 month low of $18.54 and a 12 month high of $47.97. The company has a 50-day moving average price of $29.41 and a 200 day moving average price of $28.48.

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).