Spyre Therapeutics, Inc. (NASDAQ:SYRE) Receives $53.40 Consensus Target Price from Analysts

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) have been assigned a consensus recommendation of "Buy" from the seven ratings firms that are covering the firm, Marketbeat.com reports. Five 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 target price among brokerages that have issued a report on the stock in the last year is $53.40.

Separately, Wedbush reiterated an "outperform" rating and set a $65.00 price objective on shares of Spyre Therapeutics in a research note on Wednesday, August 6th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SYRE. JPMorgan Chase & Co. grew its position in Spyre Therapeutics by 19.6% during the fourth 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. Geode Capital Management LLC boosted its position in shares of Spyre Therapeutics by 8.4% during the 4th quarter. Geode Capital Management LLC now owns 966,129 shares of the company's stock valued at $22,498,000 after acquiring an additional 75,081 shares in the last quarter. ExodusPoint Capital Management LP boosted its position in shares of Spyre Therapeutics by 71.5% during the 4th quarter. ExodusPoint Capital Management LP now owns 16,691 shares of the company's stock valued at $389,000 after acquiring an additional 6,958 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Spyre Therapeutics by 38.8% during the 4th quarter. Wells Fargo & Company MN now owns 24,718 shares of the company's stock valued at $575,000 after acquiring an additional 6,908 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Spyre Therapeutics by 15.4% during the 4th quarter. FMR LLC now owns 8,801,266 shares of the company's stock valued at $204,893,000 after acquiring an additional 1,177,385 shares in the last quarter. Institutional investors own 80.39% of the company's stock.

Spyre Therapeutics Price Performance

SYRE stock traded up $0.64 during midday trading on Monday, hitting $15.89. The stock had a trading volume of 213,001 shares, compared to its average volume of 531,788. Spyre Therapeutics has a 12-month low of $10.91 and a 12-month high of $40.26. The company's 50-day moving average price is $16.24 and its 200 day moving average price is $16.83. The firm has a market cap of $959.76 million, a PE ratio of -4.67 and a beta of 2.82.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.49) EPS for the quarter, topping analysts' consensus estimates of ($0.73) by $0.24. As a group, sell-side analysts anticipate 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).