Spyre Therapeutics (NASDAQ:SYRE) Stock Rating Upgraded by The Goldman Sachs Group

Spyre Therapeutics (NASDAQ:SYRE) was upgraded by analysts at The Goldman Sachs Group to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other research analysts also recently issued research reports about the company. Robert W. Baird upped their price objective on Spyre Therapeutics from $50.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Guggenheim increased their price target on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Wedbush restated an “outperform” rating and set a $65.00 price objective on shares of Spyre Therapeutics in a report on Monday, January 13th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $54.83.

Spyre Therapeutics Stock Up 1.4 %

SYRE stock opened at $22.37 on Tuesday. The firm has a market cap of $1.15 billion, a PE ratio of -2.99 and a beta of 2.85. The business has a 50 day moving average of $22.87 and a 200-day moving average of $27.04. Spyre Therapeutics has a 12-month low of $20.07 and a 12-month high of $47.97.

Institutional Investors Weigh In On Spyre Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Barclays PLC raised its position in shares of Spyre Therapeutics by 64.7% in the third quarter. Barclays PLC now owns 105,467 shares of the company’s stock valued at $3,101,000 after purchasing an additional 41,424 shares during the period. China Universal Asset Management Co. Ltd. purchased a new position in Spyre Therapeutics in the 4th quarter valued at approximately $290,000. Charles Schwab Investment Management Inc. lifted its position in shares of Spyre Therapeutics by 239.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 333,275 shares of the company’s stock worth $9,802,000 after acquiring an additional 235,094 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Spyre Therapeutics in the third quarter worth $33,609,000. Finally, Jane Street Group LLC grew its position in shares of Spyre Therapeutics by 78.7% in the third quarter. Jane Street Group LLC now owns 20,641 shares of the company’s stock valued at $607,000 after purchasing an additional 9,090 shares in the last quarter. 80.39% of the stock is 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).