Spyre Therapeutics (NASDAQ:SYRE) Now Covered by Wolfe Research

Wolfe Research initiated coverage on shares of Spyre Therapeutics (NASDAQ:SYRE - Free Report) in a research note issued to investors on Tuesday, Marketbeat reports. The firm issued an outperform rating and a $27.00 price objective on the stock.

Several other research analysts have also issued reports on the stock. Wedbush restated an "outperform" rating and set a $65.00 price target on shares of Spyre Therapeutics in a report on Monday, January 13th. The Goldman Sachs Group upgraded shares of Spyre Therapeutics to a "strong-buy" rating in a report on Tuesday, February 18th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Spyre Therapeutics presently has a consensus rating of "Buy" and a consensus price target of $50.86.

Spyre Therapeutics Trading Up 0.1 %

NASDAQ:SYRE traded up $0.02 during mid-day trading on Tuesday, hitting $18.17. 1,303,159 shares of the company's stock were exchanged, compared to its average volume of 547,135. The company has a 50 day simple moving average of $20.85 and a 200-day simple moving average of $25.94. Spyre Therapeutics has a fifty-two week low of $17.24 and a fifty-two week high of $43.00. The firm has a market capitalization of $1.09 billion, a P/E ratio of -2.43 and a beta of 2.98.

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Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.81) EPS for the quarter, topping the consensus estimate of ($0.89) by $0.08. As a group, analysts expect that Spyre Therapeutics will post -4.46 earnings per share for the current year.

Institutional Trading of Spyre Therapeutics

Several hedge funds have recently modified their holdings of SYRE. Driehaus Capital Management LLC increased its stake in shares of Spyre Therapeutics by 308.1% in the 4th quarter. Driehaus Capital Management LLC now owns 2,803,655 shares of the company's stock valued at $65,269,000 after acquiring an additional 2,116,575 shares in the last quarter. FMR LLC increased its stake in shares of Spyre Therapeutics by 15.4% in the 4th quarter. FMR LLC now owns 8,801,266 shares of the company's stock valued at $204,893,000 after acquiring an additional 1,177,385 shares in the last quarter. Jefferies Financial Group Inc. increased its stake in shares of Spyre Therapeutics by 167.6% in the 4th quarter. Jefferies Financial Group Inc. now owns 1,216,954 shares of the company's stock valued at $28,331,000 after acquiring an additional 762,147 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Spyre Therapeutics by 89.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,507,200 shares of the company's stock valued at $44,327,000 after acquiring an additional 711,254 shares in the last quarter. Finally, Boxer Capital Management LLC bought a new stake in shares of Spyre Therapeutics in the 4th quarter valued at $10,864,000. 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).