Analysts Set Spyre Therapeutics, Inc. (NASDAQ:SYRE) Price Target at $43.43

Spyre Therapeutics, Inc. (NASDAQ:SYRE) has received a consensus rating of “Buy” from the ten analysts that are presently covering the company, MarketBeat Ratings reports. Ten research analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $43.43.

SYRE has been the topic of several recent research reports. Wedbush initiated coverage on shares of Spyre Therapeutics in a report on Wednesday, September 4th. They set an “outperform” rating and a $45.00 target price on the stock. Evercore ISI began coverage on shares of Spyre Therapeutics in a research report on Tuesday, July 16th. They set an “outperform” rating for the company.

Spyre Therapeutics Stock Performance

SYRE opened at $32.76 on Tuesday. The stock has a market capitalization of $1.32 billion, a P/E ratio of -0.46 and a beta of 2.92. The stock has a 50-day moving average price of $28.25 and a 200-day moving average price of $30.50. Spyre Therapeutics has a 12-month low of $8.43 and a 12-month high of $47.97.

Spyre Therapeutics (NASDAQ:SYRE) last issued its earnings results on Wednesday, August 7th. The company reported ($0.86) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.90) by $0.04. On average, equities research analysts predict that Spyre Therapeutics will post -3.68 EPS for the current year.

Institutional Trading of Spyre Therapeutics

A number of institutional investors have recently modified their holdings of the company. Perceptive Advisors LLC raised its position in Spyre Therapeutics by 18.6% during the 2nd quarter. Perceptive Advisors LLC now owns 3,031,018 shares of the company’s stock valued at $71,259,000 after purchasing an additional 474,339 shares during the last quarter. Avoro Capital Advisors LLC purchased a new position in shares of Spyre Therapeutics during the second quarter valued at approximately $43,238,000. Driehaus Capital Management LLC bought a new position in shares of Spyre Therapeutics during the second quarter valued at approximately $16,153,000. Farallon Capital Management LLC purchased a new stake in Spyre Therapeutics in the second quarter worth $15,658,000. Finally, Logos Global Management LP bought a new stake in Spyre Therapeutics in the second quarter valued at $13,518,000. 80.39% of the stock is currently owned by hedge funds and other institutional investors.

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).