Spyre Therapeutics’ (SYRE) Outperform Rating Reaffirmed at Wedbush

Spyre Therapeutics (NASDAQ:SYRE)‘s stock had its “outperform” rating reaffirmed by Wedbush in a research note issued to investors on Monday,RTT News reports. They currently have a $65.00 target price on the stock. Wedbush’s price target indicates a potential upside of 212.50% from the company’s previous close.

SYRE has been the topic of several other research reports. Robert W. Baird raised their price target on Spyre Therapeutics from $50.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Guggenheim raised their target price on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, Spyre Therapeutics presently has an average rating of “Buy” and an average target price of $54.83.

Spyre Therapeutics Stock Performance

Spyre Therapeutics stock opened at $20.80 on Monday. The stock has a market cap of $1.07 billion, a P/E ratio of -2.78 and a beta of 2.86. Spyre Therapeutics has a fifty-two week low of $20.07 and a fifty-two week high of $47.97. The firm’s fifty day moving average price is $27.12 and its 200-day moving average price is $28.17.

Institutional Trading of Spyre Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Amalgamated Bank purchased a new position in shares of Spyre Therapeutics during the second quarter worth approximately $28,000. Quest Partners LLC bought a new position in shares of Spyre Therapeutics during the 2nd quarter valued at $36,000. Carlyle Group Inc. purchased a new position in Spyre Therapeutics in the 2nd quarter worth $227,000. Intech Investment Management LLC bought a new stake in Spyre Therapeutics in the third quarter worth $246,000. Finally, Profund Advisors LLC bought a new stake in Spyre Therapeutics in the second quarter worth $296,000. Hedge funds and other institutional investors own 80.39% of the company’s stock.

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).