Spyre Therapeutics (NASDAQ:SYRE) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Spyre Therapeutics (NASDAQ:SYRE) had its price target hoisted by Robert W. Baird from $50.00 to $65.00 in a report published on Wednesday,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research firms have also recently weighed in on SYRE. Guggenheim increased their price objective on Spyre Therapeutics from $50.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Wedbush reaffirmed an “outperform” rating and issued a $45.00 target price on shares of Spyre Therapeutics in a research report on Friday, November 8th. Finally, Evercore ISI initiated coverage on shares of Spyre Therapeutics in a research note on Tuesday, July 16th. They issued an “outperform” rating for the company. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $48.57.

Spyre Therapeutics Stock Down 6.6 %

Shares of Spyre Therapeutics stock opened at $29.20 on Wednesday. The firm has a market cap of $1.50 billion, a PE ratio of -3.91 and a beta of 2.90. The company’s fifty day simple moving average is $31.34 and its two-hundred day simple moving average is $30.40. Spyre Therapeutics has a 12-month low of $8.75 and a 12-month high of $47.97.

Institutional Trading of Spyre Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its holdings in Spyre Therapeutics by 1.5% in the third quarter. FMR LLC now owns 7,623,881 shares of the company’s stock worth $224,218,000 after acquiring an additional 115,898 shares in the last quarter. Perceptive Advisors LLC increased its stake in Spyre Therapeutics by 18.6% during the 2nd quarter. Perceptive Advisors LLC now owns 3,031,018 shares of the company’s stock valued at $71,259,000 after purchasing an additional 474,339 shares in the last quarter. Avoro Capital Advisors LLC purchased a new position in Spyre Therapeutics in the second quarter worth about $43,238,000. State Street Corp lifted its stake in shares of Spyre Therapeutics by 9.4% in the third quarter. State Street Corp now owns 1,541,555 shares of the company’s stock worth $45,337,000 after buying an additional 131,896 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Spyre Therapeutics by 89.4% during the third quarter. Wellington Management Group LLP now owns 1,507,200 shares of the company’s stock valued at $44,327,000 after buying an additional 711,254 shares during the last quarter. Hedge funds and other 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).