Spyre Therapeutics, Inc. (NASDAQ:SYRE) Receives $53.44 Average Target Price from Brokerages

Spyre Therapeutics, Inc. (NASDAQ:SYRE) has received a consensus recommendation of “Buy” from the ten research firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $53.4444.

Several brokerages have commented on SYRE. Weiss Ratings restated a “sell (e+)” rating on shares of Spyre Therapeutics in a report on Monday, December 29th. JonesTrading upgraded Spyre Therapeutics from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Monday, December 1st. Citigroup initiated coverage on Spyre Therapeutics in a research note on Wednesday, December 17th. They issued a “buy” rating and a $64.00 price target on the stock. Mizuho upgraded Spyre Therapeutics to a “strong-buy” rating in a report on Thursday, December 18th. Finally, Wall Street Zen cut shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 21st.

Spyre Therapeutics Trading Down 1.0%

Shares of Spyre Therapeutics stock opened at $40.59 on Friday. Spyre Therapeutics has a 12-month low of $10.91 and a 12-month high of $45.76. The company has a market cap of $3.19 billion, a P/E ratio of -19.51 and a beta of 3.09. The company’s fifty day simple moving average is $35.04 and its two-hundred day simple moving average is $26.93.

Spyre Therapeutics (NASDAQ:SYRE) last posted its earnings results on Thursday, February 26th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.04). Analysts predict that Spyre Therapeutics will post -4.46 EPS for the current fiscal year.

Insider Transactions at Spyre Therapeutics

In other Spyre Therapeutics news, CFO Scott L. Burrows sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $40.65, for a total transaction of $101,625.00. Following the completion of the transaction, the chief financial officer owned 97,994 shares of the company’s stock, valued at approximately $3,983,456.10. This trade represents a 2.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Cameron Turtle sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $32.80, for a total value of $492,000.00. Following the completion of the sale, the chief executive officer directly owned 657,540 shares in the company, valued at approximately $21,567,312. This represents a 2.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 47,500 shares of company stock valued at $1,686,675. 15.43% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SYRE. CWM LLC boosted its holdings in Spyre Therapeutics by 357.8% in the second quarter. CWM LLC now owns 1,712 shares of the company’s stock worth $26,000 after acquiring an additional 1,338 shares in the last quarter. AlphaQuest LLC increased its holdings in shares of Spyre Therapeutics by 30.8% during the second quarter. AlphaQuest LLC now owns 4,174 shares of the company’s stock valued at $62,000 after acquiring an additional 983 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Spyre Therapeutics by 2,881.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company’s stock worth $71,000 after purchasing an additional 4,092 shares during the last quarter. Persistent Asset Partners Ltd purchased a new position in shares of Spyre Therapeutics in the 4th quarter worth about $74,000. Finally, Ameritas Investment Partners Inc. boosted its stake in Spyre Therapeutics by 25.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,091 shares of the company’s stock worth $76,000 after purchasing an additional 1,045 shares in the last quarter. Institutional investors own 80.39% of the company’s stock.

Spyre Therapeutics Company Profile

Spyre Therapeutics, Inc is a clinical-stage biotechnology company focused on the discovery and development of novel immunotherapies for cancer. The company leverages proprietary protein engineering and biologics design platforms to create targeted molecules intended to enhance anti-tumor immune responses and inhibit tumor growth. Its preclinical pipeline comprises multiple candidate therapies for solid tumor and hematologic oncology indications.

Established by a team with deep expertise in protein design, immunology and translational research, Spyre Therapeutics collaborates with leading academic institutions and research organizations to accelerate its discovery efforts.