Spyre Therapeutics (NASDAQ:SYRE) Price Target Raised to $132.00

Spyre Therapeutics (NASDAQ:SYRE) had its target price boosted by BTIG Research from $112.00 to $132.00 in a research report released on Tuesday morning,Benzinga reports. BTIG Research currently has a buy rating on the stock.

A number of other equities analysts also recently commented on SYRE. Wolfe Research downgraded Spyre Therapeutics from an “outperform” rating to a “peer perform” rating in a report on Tuesday, July 28th. Stifel Nicolaus lifted their target price on shares of Spyre Therapeutics from $92.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Spyre Therapeutics in a research report on Thursday, June 4th. Mizuho increased their price target 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. Finally, Robert W. Baird set a $120.00 price target on shares of Spyre Therapeutics in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $111.69.

Spyre Therapeutics Price Performance

Shares of NASDAQ SYRE opened at $101.85 on Tuesday. The business’s 50-day moving average price is $93.61 and its two-hundred day moving average price is $67.63. Spyre Therapeutics has a one year low of $14.51 and a one year high of $108.14. The company has a market capitalization of $8.96 billion, a P/E ratio of -52.23 and a beta of 3.03.

Spyre Therapeutics (NASDAQ:SYRE) last posted 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. On average, equities analysts anticipate that Spyre Therapeutics will post -2.62 EPS for the current year.

Insider Buying and Selling at Spyre Therapeutics

In related news, Director Jeffrey W. Albers sold 18,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $104.55, for a total value of $1,881,900.00. Following the transaction, the director directly owned 9,360 shares of the company’s stock, valued at approximately $978,588. This trade represents a 65.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sheldon Sloan sold 8,334 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $87.70, for a total value of $730,891.80. Following the completion of the sale, the insider owned 8,334 shares of the company’s stock, valued at approximately $730,891.80. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 142,167 shares of company stock worth $12,779,292 in the last 90 days. Company insiders own 15.69% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Capital International Investors boosted its stake in Spyre Therapeutics by 46.0% during the 4th quarter. Capital International Investors now owns 3,492,541 shares of the company’s stock valued at $114,416,000 after purchasing an additional 1,100,000 shares during the period. Vanguard Group Inc. increased its position in Spyre Therapeutics by 32.3% in the 4th quarter. Vanguard Group Inc. now owns 4,035,074 shares of the company’s stock worth $132,189,000 after buying an additional 984,344 shares during the period. Seven Grand Managers LLC bought a new position in Spyre Therapeutics in the 4th quarter worth approximately $3,276,000. UBS Group AG lifted its holdings in shares of Spyre Therapeutics by 76.5% during the fourth quarter. UBS Group AG now owns 680,566 shares of the company’s stock worth $22,295,000 after buying an additional 294,977 shares during the last quarter. Finally, PSP Research LLC acquired a new position in shares of Spyre Therapeutics during the fourth quarter worth approximately $519,000. 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.