Spyre Therapeutics (NASDAQ:SYRE) Price Target Raised to $135.00

Spyre Therapeutics (NASDAQ:SYRE) had its price objective boosted by Guggenheim from $130.00 to $135.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

SYRE has been the topic of a number of other research reports. BTIG Research reissued a “buy” rating and set a $121.00 target price on shares of Spyre Therapeutics in a research report on Monday, October 19th. Wells Fargo & Company increased their price objective on shares of Spyre Therapeutics from $90.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Robert W. Baird set a $120.00 price objective on shares of Spyre Therapeutics in a report on Wednesday, August 5th. Mizuho lifted their price objective on shares of Spyre Therapeutics from $84.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Spyre Therapeutics in a research note on Tuesday, September 1st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $110.53.

Spyre Therapeutics Trading Up 7.5%

Shares of Spyre Therapeutics stock traded up $7.27 during trading on Wednesday, hitting $103.86. 1,630,364 shares of the stock traded hands, compared to its average volume of 1,325,156. The stock’s fifty day simple moving average is $89.79 and its 200 day simple moving average is $74.50. The firm has a market cap of $10.58 billion, a P/E ratio of -37.90 and a beta of 3.24. Spyre Therapeutics has a 52-week low of $21.15 and a 52-week high of $110.18.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.12). As a group, equities analysts expect that Spyre Therapeutics will post -2.77 EPS for the current year.

Insider Activity at Spyre Therapeutics

In other Spyre Therapeutics news, CFO Scott L. Burrows sold 7,500 shares of the business’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $91.83, for a total value of $688,725.00. Following the completion of the transaction, the chief financial officer directly owned 79,762 shares in the company, valued at approximately $7,324,544.46. The trade was a 8.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cameron Turtle sold 15,000 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $92.01, for a total transaction of $1,380,150.00. Following the sale, the chief executive officer directly owned 537,540 shares of the company’s stock, valued at approximately $49,459,055.40. The trade was a 2.71% 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. Insiders have sold a total of 138,064 shares of company stock valued at $12,349,518 over the last quarter. 15.69% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SYRE. Summit Securities Group LLC acquired a new stake in Spyre Therapeutics in the first quarter valued at approximately $28,000. Integrated Wealth Concepts LLC acquired a new position in shares of Spyre Therapeutics during the second quarter worth $31,000. GAMMA Investing LLC increased its position in shares of Spyre Therapeutics by 26.8% during the second quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock worth $59,000 after purchasing an additional 140 shares in the last quarter. KBC Group NV purchased a new stake in shares of Spyre Therapeutics during the 1st quarter valued at $69,000. Finally, IFP Advisors Inc lifted its holdings in shares of Spyre Therapeutics by 3,241.7% during the 3rd quarter. IFP Advisors Inc now owns 802 shares of the company’s stock valued at $71,000 after purchasing an additional 778 shares during the last quarter. Hedge funds and other institutional investors own 80.39% of the company’s stock.

About Spyre Therapeutics

Spyre Therapeutics, Inc is a clinical-stage biotechnology company focused on developing next-generation treatments for inflammatory bowel disease (IBD), including Crohn’s disease and ulcerative colitis. The company’s approach is centered on engineered antibody therapies designed to provide durable disease control, convenient dosing and improved treatment characteristics.

Spyre’s investigational pipeline includes antibody programs directed at important inflammatory pathways, including interleukin-23 (IL-23) and TL1A.