Spyre Therapeutics, Inc. (NASDAQ:SYRE) Given Consensus Rating of "Buy" by Analysts

Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) has been assigned an average recommendation of "Buy" from the seven ratings firms that are covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $54.83.

SYRE has been the subject of a number of analyst reports. Wedbush reissued an "outperform" rating and issued a $65.00 price target on shares of Spyre Therapeutics in a report on Monday, January 13th. Guggenheim boosted their price objective on Spyre Therapeutics from $50.00 to $65.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Finally, Robert W. Baird boosted their price objective on Spyre Therapeutics from $50.00 to $65.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th.

Spyre Therapeutics Price Performance

NASDAQ:SYRE traded up $0.12 during trading hours on Thursday, reaching $21.94. The company had a trading volume of 286,516 shares, compared to its average volume of 572,004. Spyre Therapeutics has a 1-year low of $20.07 and a 1-year high of $47.97. The firm has a market cap of $1.13 billion, a PE ratio of -2.92 and a beta of 2.86. The business's 50 day moving average price is $24.91 and its 200-day moving average price is $27.97.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($1.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.80) by ($0.56). On average, analysts expect that Spyre Therapeutics will post -4.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SYRE. JPMorgan Chase & Co. raised its position in Spyre Therapeutics by 29.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 29,473 shares of the company's stock worth $867,000 after buying an additional 6,701 shares during the last quarter. Franklin Resources Inc. raised its position in Spyre Therapeutics by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 760,666 shares of the company's stock worth $23,322,000 after buying an additional 18,762 shares during the last quarter. Teachers Retirement System of The State of Kentucky purchased a new position in Spyre Therapeutics during the 3rd quarter worth $622,000. Geode Capital Management LLC raised its position in Spyre Therapeutics by 16.4% during the 3rd quarter. Geode Capital Management LLC now owns 891,048 shares of the company's stock worth $26,211,000 after buying an additional 125,214 shares during the last quarter. Finally, Barclays PLC raised its position in Spyre Therapeutics by 64.7% during the 3rd quarter. Barclays PLC now owns 105,467 shares of the company's stock worth $3,101,000 after buying an additional 41,424 shares during 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).