Spyre Therapeutics (NASDAQ:SYRE) Now Covered by Wolfe Research

Wolfe Research began coverage on shares of Spyre Therapeutics (NASDAQ:SYRE) in a research report sent to investors on Tuesday, Marketbeat reports. The firm issued an outperform rating and a $27.00 price objective on the stock.

Other equities analysts have also recently issued reports about the company. Wedbush restated an “outperform” rating and set a $65.00 target price 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 report on Tuesday, February 18th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $50.86.

Spyre Therapeutics Stock Down 1.4 %

Spyre Therapeutics stock 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 has a 50-day simple moving average of $20.94 and a 200 day simple moving average of $26.01. The stock 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, topping the consensus estimate of ($0.89) by $0.08. On average, research analysts anticipate that Spyre Therapeutics will post -4.46 earnings per share for the current year.

Hedge Funds Weigh In On Spyre Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of SYRE. Quest Partners LLC boosted its holdings in shares of Spyre Therapeutics by 271.2% in the 3rd quarter. Quest Partners LLC now owns 5,654 shares of the company’s stock worth $166,000 after purchasing an additional 4,131 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Spyre Therapeutics in the 3rd quarter valued at about $246,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Spyre Therapeutics by 239.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 333,275 shares of the company’s stock valued at $9,802,000 after acquiring an additional 235,094 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Spyre Therapeutics by 15.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 43,460 shares of the company’s stock valued at $1,278,000 after acquiring an additional 5,678 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Spyre Therapeutics by 1.5% in the 3rd quarter. FMR LLC now owns 7,623,881 shares of the company’s stock valued at $224,218,000 after acquiring an additional 115,898 shares during the last quarter. 80.39% of the stock is currently owned by hedge funds and other institutional investors.

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).