Spyre Therapeutics (NASDAQ:SYRE) Receives “Outperform” Rating from Wedbush

Wedbush reissued their outperform rating on shares of Spyre Therapeutics (NASDAQ:SYRE) in a report issued on Monday,RTT News reports. The firm currently has a $65.00 price objective on the stock.

A number of other research analysts have also commented on the company. Robert W. Baird upped their price objective on Spyre Therapeutics from $50.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Guggenheim raised their price target on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Spyre Therapeutics has an average rating of “Buy” and a consensus price target of $54.83.

Spyre Therapeutics Stock Down 4.1 %

Shares of NASDAQ:SYRE opened at $21.55 on Monday. Spyre Therapeutics has a 12-month low of $20.07 and a 12-month high of $47.97. The business has a 50 day moving average of $27.12 and a 200-day moving average of $28.17. The stock has a market cap of $1.11 billion, a PE ratio of -2.88 and a beta of 2.86.

Institutional Investors Weigh In On Spyre Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Amalgamated Bank acquired a new position in shares of Spyre Therapeutics in the 2nd quarter valued at approximately $28,000. Quest Partners LLC bought a new position in Spyre Therapeutics in the second quarter valued at approximately $36,000. Carlyle Group Inc. acquired a new position in Spyre Therapeutics during the second quarter valued at approximately $227,000. Intech Investment Management LLC bought a new stake in Spyre Therapeutics during the third quarter worth $246,000. Finally, Profund Advisors LLC acquired a new stake in shares of Spyre Therapeutics in the 2nd quarter valued at $296,000. 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).