Spyre Therapeutics (NASDAQ:SYRE) Rating Increased to Strong-Buy at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Spyre Therapeutics (NASDAQ:SYRE - Free Report) to a strong-buy rating in a research report report published on Tuesday morning,Zacks.com reports.

Other research analysts also recently issued reports about the stock. Wedbush reaffirmed an "outperform" rating and set a $65.00 price objective on shares of Spyre Therapeutics in a research report on Monday, January 13th. Robert W. Baird boosted their price objective 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. Finally, Guggenheim boosted their price objective on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $54.83.

Spyre Therapeutics Trading Down 5.0 %

Shares of NASDAQ SYRE traded down $1.12 during midday trading on Tuesday, reaching $21.29. The company's stock had a trading volume of 790,123 shares, compared to its average volume of 580,662. The company has a 50 day moving average price of $22.78 and a 200 day moving average price of $26.98. Spyre Therapeutics has a one year low of $20.07 and a one year high of $47.97. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -2.85 and a beta of 2.85.

Institutional Investors Weigh In On Spyre Therapeutics

Several large investors have recently made changes to their positions in SYRE. Driehaus Capital Management LLC grew its holdings 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 worth $65,269,000 after purchasing an additional 2,116,575 shares during the last quarter. FMR LLC grew its holdings in Spyre Therapeutics by 15.4% during the 4th quarter. FMR LLC now owns 8,801,266 shares of the company's stock worth $204,893,000 after acquiring an additional 1,177,385 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Spyre Therapeutics during the 3rd quarter worth about $33,609,000. Jefferies Financial Group Inc. grew its holdings in Spyre Therapeutics by 167.6% during the 4th quarter. Jefferies Financial Group Inc. now owns 1,216,954 shares of the company's stock worth $28,331,000 after acquiring an additional 762,147 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Spyre Therapeutics by 89.4% during 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 last quarter. Institutional investors own 80.39% of the company's stock.

About Spyre Therapeutics

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).