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

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) have been given an average recommendation of “Buy” by the nine brokerages that are covering the stock, Marketbeat.com reports. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $50.86.

Several equities research analysts have recently issued reports on SYRE shares. The Goldman Sachs Group upgraded Spyre Therapeutics to a “strong-buy” rating in a report on Tuesday, February 18th. Wedbush reissued an “outperform” rating and issued a $65.00 price target on shares of Spyre Therapeutics in a research note on Monday, January 13th. Finally, Wolfe Research began coverage on Spyre Therapeutics in a report on Tuesday. They issued an “outperform” rating and a $27.00 price target for the company.

Spyre Therapeutics Stock Performance

Shares of SYRE stock opened at $18.15 on Friday. The stock has a fifty day moving average price of $20.94 and a 200 day moving average price of $26.01. The stock has a market cap of $1.09 billion, a PE ratio of -2.43 and a beta of 2.98. Spyre Therapeutics has a 1 year low of $17.24 and a 1 year high of $43.00.

Spyre Therapeutics (NASDAQ:SYRE) last posted its earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share for the quarter, beating the consensus estimate of ($0.89) by $0.08. As a group, equities research analysts predict that Spyre Therapeutics will post -4.46 earnings per share for the current year.

Institutional Investors Weigh In On Spyre Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of SYRE. Barclays PLC boosted its stake in Spyre Therapeutics by 64.7% in the 3rd quarter. Barclays PLC now owns 105,467 shares of the company’s stock worth $3,101,000 after purchasing an additional 41,424 shares during the period. China Universal Asset Management Co. Ltd. acquired a new stake in Spyre Therapeutics during the 4th quarter valued at $290,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Spyre Therapeutics by 239.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 333,275 shares of the company’s stock valued at $9,802,000 after purchasing an additional 235,094 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Spyre Therapeutics by 78.7% in the third quarter. Jane Street Group LLC now owns 20,641 shares of the company’s stock worth $607,000 after buying an additional 9,090 shares during the period. Finally, Victory Capital Management Inc. purchased a new position in shares of Spyre Therapeutics during the fourth quarter valued at $6,241,000. Institutional investors and hedge funds own 80.39% of the company’s stock.

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).