Spyre Therapeutics, Inc. (NASDAQ:SYRE) Receives $51.50 Average PT from Analysts

Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) has been given a consensus recommendation of "Buy" by the seven brokerages that are presently covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have issued a report on the stock in the last year is $51.50.

A number of equities analysts have recently issued reports on the company. Wedbush reissued an "outperform" rating and issued a $45.00 target price on shares of Spyre Therapeutics in a report on Friday, November 8th. Guggenheim increased their price objective on Spyre Therapeutics from $50.00 to $65.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Finally, Robert W. Baird boosted their target price on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th.

Spyre Therapeutics Stock Performance

Shares of SYRE stock traded down $0.40 during mid-day trading on Friday, reaching $23.67. The company's stock had a trading volume of 315,642 shares, compared to its average volume of 526,356. The company has a market cap of $1.22 billion, a P/E ratio of -3.17 and a beta of 2.82. Spyre Therapeutics has a 1-year low of $18.54 and a 1-year high of $47.97. The firm's 50-day moving average is $29.41 and its two-hundred day moving average is $28.41.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SYRE. Amalgamated Bank acquired a new position in shares of Spyre Therapeutics during the second quarter worth approximately $28,000. Quest Partners LLC acquired a new stake in shares of Spyre Therapeutics in the 2nd quarter valued at $36,000. Carlyle Group Inc. acquired a new stake in shares of Spyre Therapeutics in the 2nd quarter valued at $227,000. Intech Investment Management LLC bought a new stake in shares of Spyre Therapeutics during the third quarter worth $246,000. Finally, Profund Advisors LLC acquired a new position in shares of Spyre Therapeutics during the second quarter valued at $296,000. Institutional investors and hedge funds 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).