Spyre Therapeutics, Inc. (NASDAQ:SYRE) Given Average Rating of “Buy” by Brokerages

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) have been assigned an average rating of “Buy” from the ten brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, seven have given a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $60.6667.

A number of brokerages have issued reports on SYRE. Stifel Nicolaus lifted their target price on shares of Spyre Therapeutics from $70.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Wall Street Zen downgraded Spyre Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Wells Fargo & Company increased their target price on Spyre Therapeutics from $40.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, February 20th. BTIG Research reissued a “buy” rating and issued a $70.00 price target on shares of Spyre Therapeutics in a report on Monday, March 16th. Finally, Leerink Partners upgraded Spyre Therapeutics to a “strong-buy” rating in a research report on Thursday, February 19th.

Insider Activity

In other news, CFO Scott L. Burrows sold 2,500 shares of Spyre Therapeutics stock in a transaction dated 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 sale, the chief financial officer directly owned 97,994 shares in the company, valued at $3,983,456.10. The trade was a 2.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Cameron Turtle sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $42.19, for a total transaction of $632,850.00. Following the transaction, the chief executive officer directly owned 642,540 shares in the company, valued at $27,108,762.60. The trade was a 2.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 47,500 shares of company stock worth $1,686,675 over the last ninety days. 6.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Spyre Therapeutics

Hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Spyre Therapeutics by 18.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,018 shares of the company’s stock valued at $442,000 after purchasing an additional 4,277 shares during the period. ProShare Advisors LLC lifted its position in Spyre Therapeutics by 9.7% during the second quarter. ProShare Advisors LLC now owns 12,479 shares of the company’s stock worth $187,000 after buying an additional 1,101 shares during the period. Geode Capital Management LLC boosted its stake in Spyre Therapeutics by 15.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,227,232 shares of the company’s stock worth $18,373,000 after buying an additional 167,669 shares during the last quarter. Police & Firemen s Retirement System of New Jersey grew its holdings in Spyre Therapeutics by 31.5% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 11,525 shares of the company’s stock valued at $173,000 after buying an additional 2,758 shares during the period. Finally, Intech Investment Management LLC grew its holdings in Spyre Therapeutics by 22.1% in the 2nd quarter. Intech Investment Management LLC now owns 24,945 shares of the company’s stock valued at $373,000 after buying an additional 4,517 shares during the period. Institutional investors and hedge funds own 80.39% of the company’s stock.

Spyre Therapeutics Stock Performance

SYRE opened at $45.42 on Tuesday. The company has a market cap of $3.57 billion, a price-to-earnings ratio of -21.84 and a beta of 3.08. Spyre Therapeutics has a one year low of $10.91 and a one year high of $49.31. The business’s fifty day moving average is $38.79 and its two-hundred day moving average is $30.22.

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

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.