Analysts Set Spyre Therapeutics, Inc. (NASDAQ:SYRE) PT at $54.83

Spyre Therapeutics, Inc. (NASDAQ:SYRE) has received an average rating of “Buy” from the eight analysts that are currently covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $54.83.

SYRE has been the subject of several analyst reports. The Goldman Sachs Group upgraded Spyre Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 18th. Wedbush reaffirmed an “outperform” rating and issued a $65.00 target price on shares of Spyre Therapeutics in a report on Monday, January 13th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC boosted its holdings in shares of Spyre Therapeutics by 64.7% during the 3rd quarter. Barclays PLC now owns 105,467 shares of the company’s stock valued at $3,101,000 after purchasing an additional 41,424 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new position in shares of Spyre Therapeutics during the 4th quarter valued at about $290,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Spyre Therapeutics by 239.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 333,275 shares of the company’s stock valued at $9,802,000 after purchasing an additional 235,094 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Spyre Therapeutics by 78.7% during the 3rd quarter. Jane Street Group LLC now owns 20,641 shares of the company’s stock valued at $607,000 after purchasing an additional 9,090 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Spyre Therapeutics by 9.4% during the 3rd quarter. State Street Corp now owns 1,541,555 shares of the company’s stock valued at $45,337,000 after purchasing an additional 131,896 shares during the last quarter. Institutional investors own 80.39% of the company’s stock.

Spyre Therapeutics Price Performance

NASDAQ:SYRE opened at $18.04 on Friday. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -2.41 and a beta of 2.98. Spyre Therapeutics has a one year low of $17.24 and a one year high of $47.97. The business has a fifty day moving average price of $21.41 and a 200-day moving average price of $26.27.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.81) EPS for the quarter, topping the consensus estimate of ($0.89) by $0.08. On average, equities research analysts expect that Spyre Therapeutics will post -4.46 earnings per share for the current fiscal 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).