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

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) have received an average rating of "Buy" from the seven analysts that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $53.40.

Separately, Wedbush restated an "outperform" rating and issued a $65.00 target price on shares of Spyre Therapeutics in a report on Wednesday, August 6th.

Spyre Therapeutics Stock Performance

Shares of NASDAQ:SYRE traded up $0.20 during trading on Monday, reaching $17.06. 57,697 shares of the stock traded hands, compared to its average volume of 610,732. The stock has a 50-day moving average of $16.26 and a two-hundred day moving average of $16.81. 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 $1.03 billion, a P/E ratio of -5.01 and a beta of 2.82.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.49) EPS for the quarter, beating analysts' consensus estimates of ($0.73) by $0.24. Sell-side analysts expect that Spyre Therapeutics will post -4.46 earnings per share for the current year.

Institutional Investors Weigh In On Spyre Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC boosted its stake in shares of Spyre Therapeutics by 357.8% during the 2nd quarter. CWM LLC now owns 1,712 shares of the company's stock worth $26,000 after acquiring an additional 1,338 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of Spyre Therapeutics during the 4th quarter worth $29,000. AlphaQuest LLC boosted its stake in shares of Spyre Therapeutics by 45.2% during the 1st quarter. AlphaQuest LLC now owns 3,191 shares of the company's stock worth $51,000 after acquiring an additional 993 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Spyre Therapeutics during the 1st quarter valued at $70,000. Finally, Ameritas Investment Partners Inc. raised its position in shares of Spyre Therapeutics by 25.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,091 shares of the company's stock valued at $76,000 after purchasing an additional 1,045 shares during the period. Hedge funds and other institutional investors own 80.39% of the company's stock.

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).