Spyre Therapeutics (NASDAQ:SYRE) Now Covered by Analysts at Wedbush

Wedbush started coverage on shares of Spyre Therapeutics (NASDAQ:SYRE) in a research report report published on Wednesday, Marketbeat.com reports. The brokerage issued an outperform rating and a $45.00 target price on the stock.

Other analysts have also recently issued reports about the stock. BTIG Research lifted their target price on shares of Spyre Therapeutics from $32.00 to $40.00 and gave the stock a buy rating in a research note on Friday, May 10th. Evercore ISI started coverage on shares of Spyre Therapeutics in a report on Tuesday, July 16th. They issued an outperform rating on the stock. Finally, Wells Fargo & Company lifted their price target on shares of Spyre Therapeutics from $35.00 to $40.00 and gave the company an overweight rating in a report on Monday, May 13th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of Buy and a consensus target price of $43.43.

Spyre Therapeutics Stock Performance

SYRE stock opened at $28.00 on Wednesday. The stock has a market capitalization of $1.13 billion, a P/E ratio of -0.39 and a beta of 2.92. Spyre Therapeutics has a one year low of $8.43 and a one year high of $47.97. The company has a 50 day moving average price of $27.27 and a two-hundred day moving average price of $31.72.

Spyre Therapeutics (NASDAQ:SYRE) last released its earnings results on Wednesday, August 7th. The company reported ($0.86) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.04. Research analysts forecast that Spyre Therapeutics will post -3.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Spyre Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Amalgamated Bank acquired a new position in shares of Spyre Therapeutics during the 2nd quarter valued at $28,000. Quest Partners LLC acquired a new position in Spyre Therapeutics in the 2nd quarter worth $36,000. SG Americas Securities LLC acquired a new position in Spyre Therapeutics in the 2nd quarter worth $130,000. Carlyle Group Inc. acquired a new position in Spyre Therapeutics in the 2nd quarter worth $227,000. Finally, Profund Advisors LLC acquired a new position in Spyre Therapeutics in the 2nd quarter worth $296,000. Institutional investors and hedge funds own 80.39% of the company’s stock.

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).