Spyre Therapeutics, Inc. (NASDAQ:SYRE) Receives Consensus Rating of “Buy” from Analysts

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) have been assigned a consensus rating of “Buy” from the ten research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and three have assigned a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $53.8750.

Several equities research analysts recently weighed in on the company. BTIG Research reissued a “buy” rating and set a $70.00 price objective on shares of Spyre Therapeutics in a report on Friday, January 16th. Citigroup initiated coverage on Spyre Therapeutics in a report on Wednesday, December 17th. They set a “buy” rating and a $64.00 price target on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Spyre Therapeutics in a report on Monday, December 29th. Wall Street Zen raised shares of Spyre Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Finally, Mizuho raised shares of Spyre Therapeutics to a “strong-buy” rating in a research note on Thursday, December 18th.

Spyre Therapeutics Price Performance

Shares of NASDAQ:SYRE opened at $35.12 on Monday. The company has a market cap of $2.73 billion, a price-to-earnings ratio of -16.04 and a beta of 3.15. The firm has a 50 day simple moving average of $32.68 and a 200 day simple moving average of $24.05. Spyre Therapeutics has a one year low of $10.91 and a one year high of $35.31.

Insider Buying and Selling

In other Spyre Therapeutics news, CEO Cameron Turtle sold 15,000 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $32.80, for a total value of $492,000.00. Following the sale, the chief executive officer owned 657,540 shares in the company, valued at approximately $21,567,312. The trade was a 2.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 45,000 shares of company stock worth $1,387,500. 15.43% of the stock is currently owned by insiders.

Institutional Trading of Spyre Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Spyre Therapeutics by 32.3% during the fourth 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. Wellington Management Group LLP grew its holdings in Spyre Therapeutics by 8.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,640,312 shares of the company’s stock worth $27,492,000 after acquiring an additional 126,834 shares during the period. Jefferies Financial Group Inc. raised its position in shares of Spyre Therapeutics by 11.2% in the 2nd quarter. Jefferies Financial Group Inc. now owns 1,388,854 shares of the company’s stock worth $20,791,000 after acquiring an additional 140,000 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Spyre Therapeutics by 15.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,227,232 shares of the company’s stock valued at $18,373,000 after purchasing an additional 167,669 shares during the period. Finally, TCG Crossover Management LLC bought a new stake in shares of Spyre Therapeutics during the 3rd quarter valued at about $18,446,000. 80.39% of the stock is currently owned by 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.