Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) shares saw unusually-strong trading volume on Tuesday . Approximately 638,814 shares were traded during mid-day trading, an increase of 58% from the previous session's volume of 404,651 shares.The stock last traded at $25.85 and had previously closed at $24.42.
Wall Street Analyst Weigh In
SYRE has been the subject of a number of analyst reports. Guggenheim upped their target price on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Wedbush reaffirmed an "outperform" rating and set a $45.00 price target on shares of Spyre Therapeutics in a research report on Friday, November 8th. Finally, Robert W. Baird upped their price target on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $51.50.
Check Out Our Latest Research Report on SYRE
Spyre Therapeutics Trading Down 0.3 %
The firm has a 50 day moving average price of $27.99 and a two-hundred day moving average price of $28.18. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -3.26 and a beta of 2.86.
Institutional Trading of Spyre Therapeutics
A number of hedge funds and other institutional investors have recently modified their holdings of SYRE. Avoro Capital Advisors LLC acquired a new stake in Spyre Therapeutics during the second quarter worth about $43,238,000. Assenagon Asset Management S.A. bought a new position in shares of Spyre Therapeutics during the third quarter worth about $33,609,000. Wellington Management Group LLP increased its holdings 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 worth $44,327,000 after acquiring an additional 711,254 shares during the period. Driehaus Capital Management LLC bought a new stake in Spyre Therapeutics in the 2nd quarter valued at about $16,153,000. Finally, Farallon Capital Management LLC acquired a new position in Spyre Therapeutics during the 2nd quarter valued at about $15,658,000. 80.39% of the stock is owned by hedge funds and other institutional investors.
About Spyre Therapeutics
(
Get Free Report)
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).
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