Spyre Therapeutics’ (SYRE) Outperform Rating Reiterated at Wedbush

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

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

Spyre Therapeutics Trading Up 4.1 %

NASDAQ SYRE opened at $21.66 on Monday. The firm has a market capitalization of $1.11 billion, a P/E ratio of -2.90 and a beta of 2.86. The firm’s fifty day moving average price is $26.82 and its two-hundred day moving average price is $28.15. Spyre Therapeutics has a 1 year low of $20.07 and a 1 year high of $47.97.

Institutional Investors Weigh In On Spyre Therapeutics

Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in Spyre Therapeutics by 29.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 29,473 shares of the company’s stock valued at $867,000 after purchasing an additional 6,701 shares during the period. Franklin Resources Inc. boosted its position in shares of Spyre Therapeutics by 2.5% in the third quarter. Franklin Resources Inc. now owns 760,666 shares of the company’s stock valued at $23,322,000 after acquiring an additional 18,762 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Spyre Therapeutics in the third quarter valued at about $622,000. Geode Capital Management LLC grew its stake in shares of Spyre Therapeutics by 16.4% in the third quarter. Geode Capital Management LLC now owns 891,048 shares of the company’s stock valued at $26,211,000 after acquiring an additional 125,214 shares in the last quarter. Finally, Barclays PLC increased its position in Spyre Therapeutics by 64.7% during the third quarter. Barclays PLC now owns 105,467 shares of the company’s stock worth $3,101,000 after acquiring an additional 41,424 shares during the period. 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).