Spyre Therapeutics (NASDAQ:SYRE) Given “Outperform” Rating at Wedbush

Spyre Therapeutics (NASDAQ:SYRE)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wedbush in a report released on Monday,RTT News reports. They currently have a $65.00 target price on the stock. Wedbush’s price objective indicates a potential upside of 201.62% from the company’s previous close.

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

Spyre Therapeutics Stock Performance

Shares of SYRE traded down $0.91 on Monday, reaching $21.55. The stock had a trading volume of 715,627 shares, compared to its average volume of 581,290. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of -2.88 and a beta of 2.86. The company has a 50-day simple moving average of $27.39 and a 200-day simple moving average of $28.18. Spyre Therapeutics has a 12-month low of $20.07 and a 12-month high of $47.97.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SYRE. Amalgamated Bank bought a new position in shares of Spyre Therapeutics during the second quarter valued at approximately $28,000. Quest Partners LLC bought a new position in shares of Spyre Therapeutics during the second quarter valued at approximately $36,000. Carlyle Group Inc. bought a new position in shares of Spyre Therapeutics during the second quarter valued at approximately $227,000. Intech Investment Management LLC bought a new position in shares of Spyre Therapeutics during the third quarter valued at approximately $246,000. Finally, Profund Advisors LLC bought a new position in shares of Spyre Therapeutics during the second quarter valued at approximately $296,000. 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).