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

Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) has been given an average recommendation of "Buy" by the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $54.83.

A number of analysts have issued reports on SYRE shares. Wedbush reaffirmed an "outperform" rating and issued a $65.00 target price on shares of Spyre Therapeutics in a report on Monday, January 13th. The Goldman Sachs Group raised shares of Spyre Therapeutics to a "strong-buy" rating in a research report on Tuesday, February 18th.

Spyre Therapeutics Stock Performance

Shares of Spyre Therapeutics stock traded up $0.01 on Friday, reaching $18.04. The stock had a trading volume of 416,114 shares, compared to its average volume of 545,951. Spyre Therapeutics has a fifty-two week low of $17.24 and a fifty-two week high of $47.97. The business's 50-day moving average price is $21.41 and its two-hundred day moving average price is $26.27. The stock has a market cap of $1.09 billion, a P/E ratio of -2.41 and a beta of 2.98.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share for the quarter, topping analysts' consensus estimates 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 fiscal year.

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Institutional Investors Weigh In On Spyre Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC boosted its position in shares of Spyre Therapeutics by 64.7% during the 3rd quarter. Barclays PLC now owns 105,467 shares of the company's stock valued at $3,101,000 after acquiring an additional 41,424 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new position in Spyre Therapeutics during the fourth quarter worth about $290,000. Charles Schwab Investment Management Inc. boosted its holdings in Spyre Therapeutics by 239.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 333,275 shares of the company's stock valued at $9,802,000 after purchasing an additional 235,094 shares in the last quarter. Jane Street Group LLC grew its stake in shares of Spyre Therapeutics by 78.7% in the 3rd quarter. Jane Street Group LLC now owns 20,641 shares of the company's stock valued at $607,000 after purchasing an additional 9,090 shares during the period. Finally, State Street Corp lifted its position in shares of Spyre Therapeutics by 9.4% during the 3rd quarter. State Street Corp now owns 1,541,555 shares of the company's stock worth $45,337,000 after buying an additional 131,896 shares during the period. 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).