Spyre Therapeutics, Inc. (NASDAQ:SYRE) Receives Average Recommendation of "Buy" from Analysts

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) have been assigned an average recommendation of "Buy" from the eight research firms that are covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $53.40.

Several research firms recently issued reports on SYRE. Wedbush reissued an "outperform" rating and set a $65.00 price target on shares of Spyre Therapeutics in a report on Monday, May 5th. Leerink Partners began coverage on Spyre Therapeutics in a report on Tuesday, April 8th. They set an "outperform" rating and a $45.00 price target on the stock. Leerink Partnrs raised Spyre Therapeutics to a "strong-buy" rating in a report on Tuesday, April 8th. Finally, Wolfe Research began coverage on Spyre Therapeutics in a report on Tuesday, March 18th. They set an "outperform" rating and a $27.00 price target on the stock.

Institutional Investors Weigh In On Spyre Therapeutics

Institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets purchased a new stake in Spyre Therapeutics in the 4th quarter worth $437,000. JPMorgan Chase & Co. increased its stake in Spyre Therapeutics by 19.6% in 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. Victory Capital Management Inc. purchased a new stake in Spyre Therapeutics in the 4th quarter worth $6,241,000. First Trust Advisors LP purchased a new stake in Spyre Therapeutics in the 4th quarter worth $548,000. Finally, Northern Trust Corp grew its position in shares of Spyre Therapeutics by 11.0% during the fourth quarter. Northern Trust Corp now owns 348,983 shares of the company's stock valued at $8,124,000 after purchasing an additional 34,693 shares in the last quarter. Hedge funds and other institutional investors own 80.39% of the company's stock.

Spyre Therapeutics Stock Down 0.5%

Shares of SYRE opened at $15.01 on Friday. The business's 50 day moving average price is $14.98 and its 200-day moving average price is $18.73. Spyre Therapeutics has a 52 week low of $10.91 and a 52 week high of $40.26. The stock has a market cap of $904.80 million, a P/E ratio of -3.98 and a beta of 2.72.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.74) EPS for the quarter, topping analysts' consensus estimates of ($0.76) by $0.02. On average, equities analysts anticipate that Spyre Therapeutics will post -4.46 EPS for the current year.

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).

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