Analysts Set Spyre Therapeutics, Inc. (NASDAQ:SYRE) Target Price at $53.40

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) have been given a consensus rating of "Buy" by the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $53.40.

SYRE has been the topic of several recent analyst reports. Leerink Partners began coverage on Spyre Therapeutics in a research report on Tuesday, April 8th. They set an "outperform" rating and a $45.00 price target on the stock. Leerink Partnrs upgraded shares of Spyre Therapeutics to a "strong-buy" rating in a report on Tuesday, April 8th. Wedbush reiterated an "outperform" rating and issued a $65.00 price objective on shares of Spyre Therapeutics in a research note on Monday, May 5th. Finally, Wolfe Research initiated coverage on shares of Spyre Therapeutics in a research report on Tuesday, March 18th. They issued an "outperform" rating and a $27.00 target price for the company.

Hedge Funds Weigh In On Spyre Therapeutics

A number of hedge funds have recently added to or reduced their stakes in SYRE. Rhumbline Advisers boosted its position in Spyre Therapeutics by 6.9% during the fourth quarter. Rhumbline Advisers now owns 57,657 shares of the company's stock worth $1,342,000 after purchasing an additional 3,722 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of 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 acquiring an additional 46,375 shares during the period. Victory Capital Management Inc. acquired a new stake in shares of Spyre Therapeutics in the fourth quarter worth $6,241,000. Arizona State Retirement System increased its position in Spyre Therapeutics by 38.4% during the fourth quarter. Arizona State Retirement System now owns 10,115 shares of the company's stock worth $235,000 after acquiring an additional 2,805 shares during the period. Finally, Candriam S.C.A. raised its stake in Spyre Therapeutics by 135.8% during the 4th quarter. Candriam S.C.A. now owns 247,591 shares of the company's stock valued at $5,764,000 after purchasing an additional 142,591 shares during the last quarter. Institutional investors and hedge funds own 80.39% of the company's stock.

Spyre Therapeutics Stock Performance

Shares of Spyre Therapeutics stock traded up $0.31 during trading on Friday, hitting $15.72. The stock had a trading volume of 276,268 shares, compared to its average volume of 598,364. Spyre Therapeutics has a 1 year low of $10.91 and a 1 year high of $40.26. The stock has a 50 day simple moving average of $15.06 and a 200 day simple moving average of $18.57.

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