Spyre Therapeutics, Inc. (NASDAQ:SYRE) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) have been assigned an average rating of “Buy” from the eight brokerages that are currently covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $54.83.

Several equities research analysts have recently issued reports on the stock. Robert W. Baird raised their target price on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Guggenheim increased their price target on Spyre Therapeutics from $50.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Wedbush reissued an “outperform” rating and issued a $65.00 price objective on shares of Spyre Therapeutics in a research note on Monday, January 13th. Finally, The Goldman Sachs Group raised shares of Spyre Therapeutics to a “strong-buy” rating in a research report on Tuesday.

Spyre Therapeutics Stock Down 5.0 %

Spyre Therapeutics stock opened at $21.29 on Monday. Spyre Therapeutics has a 52-week low of $20.07 and a 52-week high of $47.97. The firm’s fifty day moving average is $22.78 and its 200 day moving average is $26.98. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -2.85 and a beta of 2.85.

Hedge Funds Weigh In On Spyre Therapeutics

Large investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Spyre Therapeutics by 4.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,741 shares of the company’s stock valued at $527,000 after purchasing an additional 916 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in Spyre Therapeutics during the 4th quarter worth $29,000. MetLife Investment Management LLC grew its stake in shares of Spyre Therapeutics by 6.2% in the fourth quarter. MetLife Investment Management LLC now owns 21,382 shares of the company’s stock valued at $498,000 after buying an additional 1,250 shares in the last quarter. Huntington National Bank acquired a new stake in Spyre Therapeutics in the fourth quarter valued at approximately $34,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Spyre Therapeutics during the 4th quarter valued at $46,000. Hedge funds and other institutional investors own 80.39% of the company’s stock.

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).