Spyre Therapeutics (NASDAQ:SYRE) Research Coverage Started at Leerink Partners

Leerink Partners initiated coverage on shares of Spyre Therapeutics (NASDAQ:SYRE) in a report issued on Tuesday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $45.00 target price on the stock.

A number of other equities research analysts also recently weighed in on the stock. The Goldman Sachs Group upgraded shares of Spyre Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 18th. Wolfe Research began coverage on shares of Spyre Therapeutics in a research note on Tuesday, March 18th. They issued an “outperform” rating and a $27.00 target price on the stock. Finally, Wedbush restated an “outperform” rating and set a $65.00 price target on shares of Spyre Therapeutics in a research note on Monday, January 13th. Eight research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Spyre Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $49.57.

Spyre Therapeutics Stock Performance

Shares of SYRE opened at $11.93 on Tuesday. Spyre Therapeutics has a 52 week low of $10.91 and a 52 week high of $40.84. The firm has a market capitalization of $718.87 million, a P/E ratio of -1.60 and a beta of 3.05. The company has a 50-day simple moving average of $18.69 and a 200-day simple moving average of $24.40.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.81) EPS for the quarter, beating the consensus estimate of ($0.89) by $0.08. As a group, equities analysts forecast that Spyre Therapeutics will post -4.46 earnings per share for the current year.

Institutional Trading of Spyre Therapeutics

Hedge funds have recently modified their holdings of the company. FMR LLC grew its position in Spyre Therapeutics by 15.4% during the 4th quarter. FMR LLC now owns 8,801,266 shares of the company’s stock worth $204,893,000 after acquiring an additional 1,177,385 shares during the last quarter. RTW Investments LP grew its holdings in shares of Spyre Therapeutics by 11.2% during the fourth quarter. RTW Investments LP now owns 3,621,996 shares of the company’s stock worth $84,320,000 after purchasing an additional 363,636 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Spyre Therapeutics by 13.1% in the fourth quarter. Vanguard Group Inc. now owns 2,846,473 shares of the company’s stock valued at $66,266,000 after buying an additional 330,553 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in shares of Spyre Therapeutics by 308.1% in the fourth quarter. Driehaus Capital Management LLC now owns 2,803,655 shares of the company’s stock valued at $65,269,000 after buying an additional 2,116,575 shares during the last quarter. Finally, Braidwell LP lifted its position in Spyre Therapeutics by 17.7% during the 4th quarter. Braidwell LP now owns 2,578,404 shares of the company’s stock worth $60,025,000 after buying an additional 388,568 shares in the last quarter. Institutional investors and hedge funds own 80.39% of the company’s stock.

About Spyre Therapeutics

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).