Spyre Therapeutics (NASDAQ:SYRE) Upgraded to “Strong-Buy” at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Spyre Therapeutics (NASDAQ:SYRE) to a strong-buy rating in a research report sent to investors on Tuesday,Zacks.com reports.

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

Spyre Therapeutics Trading Up 1.4 %

Shares of SYRE opened at $22.37 on Tuesday. The business’s 50 day moving average is $22.87 and its 200 day moving average is $27.04. The company has a market capitalization of $1.15 billion, a PE ratio of -2.99 and a beta of 2.85. Spyre Therapeutics has a 12-month low of $20.07 and a 12-month high of $47.97.

Hedge Funds Weigh In On Spyre Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of SYRE. Assenagon Asset Management S.A. purchased a new position in shares of Spyre Therapeutics in the 3rd quarter worth approximately $33,609,000. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Spyre Therapeutics in the 3rd quarter worth approximately $7,457,000. Emerald Advisers LLC purchased a new position in shares of Spyre Therapeutics in the 3rd quarter worth approximately $8,604,000. Quest Partners LLC boosted its holdings in shares of Spyre Therapeutics by 271.2% in the 3rd quarter. Quest Partners LLC now owns 5,654 shares of the company’s stock worth $166,000 after purchasing an additional 4,131 shares during the period. Finally, Intech Investment Management LLC purchased a new position in shares of Spyre Therapeutics in the 3rd quarter worth approximately $246,000. 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).