Spyre Therapeutics, Inc. (NASDAQ:SYRE) Receives Average Rating of “Buy” from Analysts

Spyre Therapeutics, Inc. (NASDAQ:SYRE) has been assigned a consensus recommendation of “Buy” from the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $54.83.

A number of equities analysts have recently issued reports on SYRE shares. The Goldman Sachs Group raised Spyre Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 18th. Wedbush reissued an “outperform” rating and set a $65.00 price target on shares of Spyre Therapeutics in a research report on Monday, January 13th.

Institutional Trading of Spyre Therapeutics

Several large investors have recently added to or reduced their stakes in SYRE. GF Fund Management CO. LTD. purchased a new position in shares of Spyre Therapeutics during the 4th quarter valued at $29,000. Huntington National Bank purchased a new position in shares of Spyre Therapeutics during the 4th quarter valued at $34,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Spyre Therapeutics during the 4th quarter valued at $46,000. Quest Partners LLC grew its holdings in shares of Spyre Therapeutics by 271.2% during the 3rd quarter. Quest Partners LLC now owns 5,654 shares of the company’s stock valued at $166,000 after acquiring an additional 4,131 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Spyre Therapeutics during the 4th quarter valued at $182,000. 80.39% of the stock is owned by institutional investors and hedge funds.

Spyre Therapeutics Stock Down 4.5 %

Shares of Spyre Therapeutics stock opened at $18.03 on Friday. Spyre Therapeutics has a 52 week low of $17.24 and a 52 week high of $47.97. The business’s fifty day simple moving average is $21.65 and its 200-day simple moving average is $26.41. The firm has a market cap of $1.09 billion, a PE ratio of -2.41 and a beta of 2.98.

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

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).