Brokerages Set Spyre Therapeutics, Inc. (NASDAQ:SYRE) PT at $46.43

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) have earned a consensus rating of “Buy” from the ten brokerages that are presently covering the company, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $48.57.

Several research firms recently weighed in on SYRE. Wedbush restated an “outperform” rating and set a $45.00 target price on shares of Spyre Therapeutics in a research note on Friday, November 8th. Guggenheim upped their target price on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Robert W. Baird lifted their price target on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday.

Spyre Therapeutics Price Performance

Shares of NASDAQ SYRE opened at $29.20 on Friday. The business has a 50-day moving average of $31.34 and a two-hundred day moving average of $30.40. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of -3.91 and a beta of 2.90. Spyre Therapeutics has a 1 year low of $8.75 and a 1 year high of $47.97.

Institutional Investors Weigh In On Spyre Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC increased its position in Spyre Therapeutics by 64.7% in the 3rd 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 during the period. Jane Street Group LLC grew its position in Spyre Therapeutics by 78.7% in the 3rd quarter. Jane Street Group LLC now owns 20,641 shares of the company’s stock valued at $607,000 after buying an additional 9,090 shares during the last quarter. Wellington Management Group LLP increased its stake in Spyre Therapeutics by 89.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,507,200 shares of the company’s stock valued at $44,327,000 after buying an additional 711,254 shares during the period. State Street Corp raised its position in Spyre Therapeutics by 9.4% during the 3rd quarter. State Street Corp now owns 1,541,555 shares of the company’s stock worth $45,337,000 after buying an additional 131,896 shares during the last quarter. Finally, Ikarian Capital LLC acquired a new stake in shares of Spyre Therapeutics in the 3rd quarter worth $8,889,000. 80.39% of the stock is owned by hedge funds and other institutional investors.

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).