Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) has been given an average recommendation of "Buy" by the seven brokerages that are presently covering the company, Marketbeat reports. Seven research analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have covered the stock in the last year is $54.83.
A number of research firms have recently issued reports on SYRE. Guggenheim upped their price objective on Spyre Therapeutics from $50.00 to $65.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Robert W. Baird increased their target price on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Finally, Wedbush reissued an "outperform" rating and issued a $65.00 price target on shares of Spyre Therapeutics in a research note on Monday, January 13th.
Get Our Latest Stock Analysis on SYRE
Institutional Investors Weigh In On Spyre Therapeutics
Institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Spyre Therapeutics by 4.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,741 shares of the company's stock valued at $527,000 after acquiring an additional 916 shares during the period. GF Fund Management CO. LTD. purchased a new position in Spyre Therapeutics during the 4th quarter valued at about $29,000. MetLife Investment Management LLC raised its position in Spyre Therapeutics by 6.2% during the 4th quarter. MetLife Investment Management LLC now owns 21,382 shares of the company's stock valued at $498,000 after purchasing an additional 1,250 shares during the last quarter. Huntington National Bank purchased a new stake in Spyre Therapeutics in the 4th quarter worth approximately $34,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Spyre Therapeutics in the 4th quarter worth approximately $46,000. Hedge funds and other institutional investors own 80.39% of the company's stock.
Spyre Therapeutics Stock Up 1.4 %
Shares of NASDAQ SYRE traded up $0.30 during mid-day trading on Monday, reaching $22.37. 263,164 shares of the company were exchanged, compared to its average volume of 582,083. Spyre Therapeutics has a 52 week low of $20.07 and a 52 week high of $47.97. The company's 50 day moving average price is $22.87 and its 200 day moving average price is $27.04. The stock has a market capitalization of $1.15 billion, a PE ratio of -2.99 and a beta of 2.85.
About Spyre Therapeutics
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Get Free ReportSpyre 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).
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