Spyre Therapeutics, Inc. (NASDAQ:SYRE) Receives Consensus Rating of "Buy" from Brokerages

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) have earned an average rating of "Buy" from the ten research firms that are currently covering the stock, Marketbeat reports. Eight equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $49.57.

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

Spyre Therapeutics Price Performance

SYRE traded up $0.04 during trading on Friday, reaching $12.75. The company had a trading volume of 43,796 shares, compared to its average volume of 600,038. The business's fifty day moving average price is $15.55 and its 200 day moving average price is $22.40. The company has a market cap of $768.52 million, a P/E ratio of -1.71 and a beta of 2.78. Spyre Therapeutics has a 12 month low of $10.91 and a 12 month high of $40.49.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last released its quarterly earnings data 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, sell-side analysts predict that Spyre Therapeutics will post -4.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Spyre Therapeutics

Institutional investors have recently bought and sold shares of the business. Barclays PLC boosted its stake in Spyre Therapeutics by 64.7% in the third quarter. Barclays PLC now owns 105,467 shares of the company's stock valued at $3,101,000 after acquiring an additional 41,424 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in shares of Spyre Therapeutics during the fourth quarter worth $290,000. Victory Capital Management Inc. acquired a new position in shares of Spyre Therapeutics in the 4th quarter valued at $6,241,000. JPMorgan Chase & Co. raised its stake in shares of Spyre Therapeutics by 19.6% during the 4th quarter. JPMorgan Chase & Co. now owns 35,248 shares of the company's stock worth $821,000 after buying an additional 5,775 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in shares of Spyre Therapeutics by 78.7% during the 3rd quarter. Jane Street Group LLC now owns 20,641 shares of the company's stock worth $607,000 after purchasing an additional 9,090 shares in the last quarter. Hedge funds and other institutional investors 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).