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

Spyre Therapeutics (NASDAQ:SYRE)‘s stock had its “outperform” rating restated by research analysts at Wedbush in a note issued to investors on Monday,RTT News reports. They presently have a $65.00 price objective on the stock. Wedbush’s price objective would suggest a potential upside of 201.62% from the company’s current price.

Other equities analysts have also issued reports about the company. Guggenheim increased their price objective on Spyre Therapeutics from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Robert W. Baird increased 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 investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $54.83.

Spyre Therapeutics Stock Down 4.1 %

Shares of Spyre Therapeutics stock traded down $0.91 during trading on Monday, hitting $21.55. 715,627 shares of the stock traded hands, compared to its average volume of 581,290. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of -2.88 and a beta of 2.86. The firm’s fifty day moving average is $27.39 and its 200-day moving average is $28.18. Spyre Therapeutics has a 52 week low of $20.07 and a 52 week high of $47.97.

Hedge Funds Weigh In On Spyre Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Amalgamated Bank bought a new position in Spyre Therapeutics during the 2nd quarter worth approximately $28,000. Quest Partners LLC purchased a new stake in Spyre Therapeutics in the 2nd quarter worth approximately $36,000. Carlyle Group Inc. purchased a new stake in Spyre Therapeutics in the 2nd quarter worth approximately $227,000. Intech Investment Management LLC purchased a new stake in Spyre Therapeutics in the 3rd quarter worth approximately $246,000. Finally, Profund Advisors LLC purchased a new stake in Spyre Therapeutics in the 2nd quarter worth approximately $296,000. 80.39% of the stock is currently owned by 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).