Spyre Therapeutics (NASDAQ:SYRE) Price Target Raised to $130.00

Spyre Therapeutics (NASDAQ:SYRE) had its target price lifted by Guggenheim from $115.00 to $130.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts also recently issued research reports about the stock. Raymond James Financial assumed coverage on shares of Spyre Therapeutics in a research note on Monday, April 13th. They set a “strong-buy” rating and a $80.00 price objective on the stock. Mizuho lifted their target price on shares of Spyre Therapeutics from $84.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Stifel Nicolaus boosted their price target on Spyre Therapeutics from $92.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Wolfe Research lowered Spyre Therapeutics from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, July 28th. Finally, Robert W. Baird raised their price objective on Spyre Therapeutics from $65.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $110.15.

Spyre Therapeutics Stock Performance

Shares of NASDAQ:SYRE opened at $104.91 on Wednesday. The business’s fifty day moving average price is $91.17 and its two-hundred day moving average price is $65.43. The stock has a market cap of $9.23 billion, a PE ratio of -53.80 and a beta of 3.03. Spyre Therapeutics has a one year low of $14.51 and a one year high of $108.14.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.40. As a group, equities research analysts predict that Spyre Therapeutics will post -2.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Spyre Therapeutics

In related news, CEO Cameron Turtle sold 15,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $70.43, for a total transaction of $1,056,450.00. Following the sale, the chief executive officer directly owned 597,540 shares in the company, valued at approximately $42,084,742.20. This trade represents a 2.45% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Thomas Henderson sold 20,000 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $100.00, for a total value of $2,000,000.00. Following the sale, the director owned 68,606 shares in the company, valued at approximately $6,860,600. The trade was a 22.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 119,167 shares of company stock worth $10,375,042. 15.69% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Summit Securities Group LLC purchased a new stake in Spyre Therapeutics during the 1st quarter worth approximately $28,000. GAMMA Investing LLC raised its stake in shares of Spyre Therapeutics by 26.8% during the second quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock valued at $59,000 after purchasing an additional 140 shares in the last quarter. KBC Group NV acquired a new stake in Spyre Therapeutics in the first quarter worth approximately $69,000. Persistent Asset Partners Ltd bought a new position in Spyre Therapeutics during the 4th quarter valued at $74,000. Finally, ABS Direct Equity Fund LLC bought a new position in Spyre Therapeutics during the 1st quarter valued at $141,000. 80.39% of the stock is currently owned by hedge funds and other institutional investors.

About Spyre Therapeutics

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.