Spyre Therapeutics (NASDAQ:SYRE) Price Target Raised to $65.00

Spyre Therapeutics (NASDAQ:SYRE) had its price objective boosted by Robert W. Baird from $50.00 to $65.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

SYRE has been the subject of several other research reports. Guggenheim lifted their target price on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Wedbush reiterated an “outperform” rating and issued a $45.00 price objective on shares of Spyre Therapeutics in a research note on Friday, November 8th. Finally, Evercore ISI initiated coverage on Spyre Therapeutics in a research report on Tuesday, July 16th. They set an “outperform” rating on the stock. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Spyre Therapeutics has an average rating of “Buy” and a consensus price target of $48.57.

Spyre Therapeutics Stock Performance

SYRE stock opened at $29.20 on Wednesday. Spyre Therapeutics has a fifty-two week low of $8.75 and a fifty-two week high of $47.97. The stock has a fifty day moving average of $31.34 and a 200-day moving average of $30.40. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of -3.91 and a beta of 2.90.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Driehaus Capital Management LLC bought a new stake in Spyre Therapeutics during the second quarter worth about $16,153,000. Ensign Peak Advisors Inc purchased a new position in shares of Spyre Therapeutics during the second quarter worth approximately $1,939,000. Bank of New York Mellon Corp purchased a new stake in shares of Spyre Therapeutics in the 2nd quarter valued at $2,767,000. Rhumbline Advisers purchased a new position in Spyre Therapeutics in the 2nd quarter worth $1,220,000. Finally, Assenagon Asset Management S.A. bought a new stake in Spyre Therapeutics in the third quarter worth $33,609,000. 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).