Brokerages Set Spyre Therapeutics, Inc. (NASDAQ:SYRE) PT at $53.40

Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) has received an average recommendation of "Buy" from the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $53.40.

Several research firms have recently commented on SYRE. Leerink Partners began coverage on Spyre Therapeutics in a report on Tuesday, April 8th. They issued an "outperform" rating and a $45.00 price target for the company. Wolfe Research started coverage on shares of Spyre Therapeutics in a research report on Tuesday, March 18th. They set an "outperform" rating and a $27.00 target price for the company. Wedbush reaffirmed an "outperform" rating and set a $65.00 price target on shares of Spyre Therapeutics in a research note on Monday, May 5th. Leerink Partnrs raised shares of Spyre Therapeutics to a "strong-buy" rating in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group raised shares of Spyre Therapeutics to a "strong-buy" rating in a report on Tuesday, February 18th.

Institutional Trading of Spyre Therapeutics

Several institutional investors have recently bought and sold shares of SYRE. Barclays PLC lifted its holdings in Spyre Therapeutics by 64.7% during the 3rd quarter. Barclays PLC now owns 105,467 shares of the company's stock worth $3,101,000 after buying an additional 41,424 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in shares of Spyre Therapeutics in the fourth quarter valued at approximately $290,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Spyre Therapeutics in the 4th quarter worth $46,000. Rhumbline Advisers boosted its position in Spyre Therapeutics by 6.9% during the 4th quarter. Rhumbline Advisers now owns 57,657 shares of the company's stock worth $1,342,000 after acquiring an additional 3,722 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Spyre Therapeutics by 13.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 379,650 shares of the company's stock valued at $8,838,000 after purchasing an additional 46,375 shares in the last quarter. Institutional investors and hedge funds own 80.39% of the company's stock.

Spyre Therapeutics Stock Performance

Shares of NASDAQ:SYRE traded down $0.30 during midday trading on Wednesday, hitting $15.25. The company's stock had a trading volume of 380,763 shares, compared to its average volume of 613,714. Spyre Therapeutics has a 12-month low of $10.91 and a 12-month high of $40.26. The business's 50 day simple moving average is $14.33 and its 200 day simple moving average is $20.16. The company has a market cap of $919.21 million, a P/E ratio of -2.04 and a beta of 2.78.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.74) EPS for the quarter, beating analysts' consensus estimates of ($0.76) by $0.02. On average, sell-side analysts predict that Spyre Therapeutics will post -4.46 earnings per share for the current fiscal year.

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).