Spyre Therapeutics, Inc. (NASDAQ:SYRE) Given Average Rating of "Buy" by Analysts

Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) has been assigned an average recommendation of "Buy" from the seven analysts that are covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $53.40.

Several equities research analysts recently issued reports on the stock. Leerink Partnrs upgraded shares of Spyre Therapeutics to a "strong-buy" rating in a research note on Tuesday, April 8th. Leerink Partners assumed coverage on shares of Spyre Therapeutics in a research note on Tuesday, April 8th. They issued an "outperform" rating and a $45.00 target price for the company. Finally, Wedbush restated an "outperform" rating and set a $65.00 price objective on shares of Spyre Therapeutics in a research report on Monday, May 5th.

Spyre Therapeutics Price Performance

SYRE stock traded down $0.60 during trading hours on Thursday, reaching $16.29. 333,165 shares of the stock were exchanged, compared to its average volume of 577,052. The firm's 50-day moving average is $15.77 and its 200-day moving average is $17.53. The company has a market cap of $981.96 million, a price-to-earnings ratio of -4.32 and a beta of 2.68. Spyre Therapeutics has a 12 month low of $10.91 and a 12 month high of $40.26.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.74) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.02. As a group, equities research analysts forecast that Spyre Therapeutics will post -4.46 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in shares of Spyre Therapeutics by 13.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 379,650 shares of the company's stock worth $8,838,000 after buying an additional 46,375 shares during the last quarter. Swiss National Bank grew its stake in shares of Spyre Therapeutics by 38.3% during the fourth quarter. Swiss National Bank now owns 68,600 shares of the company's stock worth $1,597,000 after buying an additional 19,000 shares during the last quarter. Natixis Advisors LLC bought a new stake in shares of Spyre Therapeutics during the fourth quarter worth $403,000. Teacher Retirement System of Texas bought a new stake in shares of Spyre Therapeutics during the fourth quarter worth $242,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Spyre Therapeutics during the fourth quarter worth $182,000. 80.39% of the stock is owned by institutional investors.

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).