Spyre Therapeutics (NASDAQ:SYRE) Research Coverage Started at Wolfe Research

Wolfe Research began coverage on shares of Spyre Therapeutics (NASDAQ:SYRE) in a report released on Tuesday morning, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $27.00 target price on the stock.

A number of other equities analysts also recently issued reports on the company. Wedbush restated an “outperform” rating and set a $65.00 price objective on shares of Spyre Therapeutics in a research report on Monday, January 13th. The Goldman Sachs Group upgraded Spyre Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 18th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Spyre Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $50.86.

Spyre Therapeutics Stock Performance

Shares of SYRE opened at $18.15 on Tuesday. Spyre Therapeutics has a 52-week low of $17.24 and a 52-week high of $43.00. The business’s fifty day moving average is $20.94 and its 200-day moving average is $26.01. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -2.43 and a beta of 2.98.

Spyre Therapeutics (NASDAQ:SYRE) last posted its earnings results on Thursday, February 27th. The company reported ($0.81) EPS for the quarter, beating the consensus estimate of ($0.89) by $0.08. As a group, research analysts forecast that Spyre Therapeutics will post -4.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SYRE. GF Fund Management CO. LTD. purchased a new position in shares of Spyre Therapeutics during the fourth quarter valued at approximately $29,000. Huntington National Bank purchased a new position in shares of Spyre Therapeutics during the fourth quarter valued at approximately $34,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Spyre Therapeutics during the fourth quarter valued at approximately $46,000. Quest Partners LLC boosted its position in shares of Spyre Therapeutics by 271.2% during the third quarter. Quest Partners LLC now owns 5,654 shares of the company’s stock valued at $166,000 after buying an additional 4,131 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Spyre Therapeutics during the fourth quarter valued at approximately $182,000. Hedge funds and other 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).