Analysts Set Spyre Therapeutics, Inc. (NASDAQ:SYRE) Target Price at $46.43

Spyre Therapeutics, Inc. (NASDAQ:SYRE) has received a consensus rating of “Buy” from the ten ratings firms that are presently covering the company, Marketbeat reports. Ten analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have covered the stock in the last year is $48.57.

A number of brokerages have recently issued reports on SYRE. Wedbush reiterated an “outperform” rating and issued a $45.00 price target on shares of Spyre Therapeutics in a report on Friday, November 8th. 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 report on Friday, October 25th. Finally, Robert W. Baird lifted 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.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SYRE. Avoro Capital Advisors LLC purchased a new stake in Spyre Therapeutics in the 2nd quarter valued at approximately $43,238,000. Assenagon Asset Management S.A. acquired a new position in shares of Spyre Therapeutics in the third quarter worth $33,609,000. Wellington Management Group LLP lifted its position in shares of Spyre Therapeutics by 89.4% in the third 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. Driehaus Capital Management LLC acquired a new stake in shares of Spyre Therapeutics during the second quarter valued at $16,153,000. Finally, Farallon Capital Management LLC purchased a new stake in Spyre Therapeutics during the 2nd quarter worth about $15,658,000. 80.39% of the stock is owned by hedge funds and other institutional investors.

Spyre Therapeutics Price Performance

Shares of SYRE stock opened at $29.20 on Friday. The business’s fifty day moving average price is $31.34 and its 200 day moving average price is $30.40. The firm has a market capitalization of $1.50 billion, a PE ratio of -3.91 and a beta of 2.90. Spyre Therapeutics has a 1-year low of $8.75 and a 1-year high of $47.97.

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).