Robert W. Baird Increases Spyre Therapeutics (NASDAQ:SYRE) Price Target to $65.00

Spyre Therapeutics (NASDAQ:SYRE - Free Report) had its price target upped by Robert W. Baird from $50.00 to $65.00 in a research report released on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other analysts also recently issued reports on the company. Wedbush reissued an "outperform" rating and set a $45.00 price objective on shares of Spyre Therapeutics in a research report on Friday, November 8th. Evercore ISI assumed coverage on Spyre Therapeutics in a report on Tuesday, July 16th. They set an "outperform" rating for the company. Finally, Guggenheim lifted their price objective on Spyre Therapeutics from $50.00 to $65.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, Spyre Therapeutics currently has a consensus rating of "Buy" and a consensus price target of $48.57.

Spyre Therapeutics Stock Down 7.9 %

NASDAQ SYRE traded down $2.84 during mid-day trading on Wednesday, hitting $32.98. The stock had a trading volume of 792,188 shares, compared to its average volume of 512,187. Spyre Therapeutics has a twelve month low of $8.75 and a twelve month high of $47.97. The firm's 50 day moving average is $31.16 and its 200 day moving average is $30.42.

Institutional Trading of Spyre Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank bought a new stake in shares of Spyre Therapeutics in the 2nd quarter worth approximately $28,000. Quest Partners LLC acquired a new stake in Spyre Therapeutics during the 2nd quarter valued at $36,000. SG Americas Securities LLC acquired a new stake in Spyre Therapeutics during the 2nd quarter valued at $130,000. Intech Investment Management LLC bought a new position in shares of Spyre Therapeutics in the 3rd quarter worth $246,000. Finally, Carlyle Group Inc. acquired a new stake in shares of Spyre Therapeutics in the second quarter valued at about $227,000. 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).