Brokerages Set Spyre Therapeutics, Inc. (NASDAQ:SYRE) Price Target at $111.69

Spyre Therapeutics, Inc. (NASDAQ:SYRE) has earned an average rating of “Moderate Buy” from the fifteen brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $109.6923.

Several equities analysts have weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Spyre Therapeutics in a research report on Thursday, June 4th. Wells Fargo & Company upped their price objective on Spyre Therapeutics from $90.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Wolfe Research lowered Spyre Therapeutics from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, July 28th. Stifel Nicolaus lifted their price objective on Spyre Therapeutics from $92.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Spyre Therapeutics from $135.00 to $127.00 and set a “buy” rating for the company in a research note on Wednesday.

Spyre Therapeutics Price Performance

SYRE stock opened at $93.61 on Friday. The company’s 50 day simple moving average is $98.39 and its 200-day simple moving average is $72.63. The firm has a market capitalization of $8.23 billion, a PE ratio of -48.01 and a beta of 3.03. Spyre Therapeutics has a 12 month low of $14.51 and a 12 month high of $110.18.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.40. As a group, sell-side analysts anticipate that Spyre Therapeutics will post -2.62 earnings per share for the current year.

Insider Buying and Selling at Spyre Therapeutics

In other Spyre Therapeutics news, Director Jeffrey W. Albers sold 5,000 shares of Spyre Therapeutics stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $104.47, for a total value of $522,350.00. Following the completion of the sale, the director directly owned 5,000 shares of the company’s stock, valued at approximately $522,350. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 on Wednesday, July 1st. The shares were sold at an average price of $87.70, for a total value of $730,891.80. Following the completion of the transaction, the insider owned 8,334 shares of the company’s stock, valued at $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. Over the last quarter, insiders sold 142,167 shares of company stock valued at $12,779,292. Corporate insiders own 15.69% of the company’s stock.

Institutional Investors Weigh In On Spyre Therapeutics

Several hedge funds have recently made changes to their positions in SYRE. Capital International Investors increased its stake in Spyre Therapeutics by 46.0% in the fourth 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 last quarter. Vanguard Group Inc. boosted its stake 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 last quarter. Seven Grand Managers LLC acquired a new stake in Spyre Therapeutics in the 4th quarter worth about $3,276,000. UBS Group AG grew its holdings in Spyre Therapeutics by 76.5% in the 4th quarter. UBS Group AG now owns 680,566 shares of the company’s stock valued at $22,295,000 after buying an additional 294,977 shares during the period. Finally, Handelsbanken Fonder AB purchased a new stake in Spyre Therapeutics in the 2nd quarter valued at about $2,308,000. Institutional investors and hedge funds own 80.39% of the company’s stock.

Key Stories Impacting Spyre Therapeutics

Here are the key news stories impacting Spyre Therapeutics this week:

• Positive Sentiment: Wedbush lowered its price target to $123 from $130 but maintained an Outperform rating, implying substantial upside from the recent trading level. Wedbush Adjusts Price Target on Spyre Therapeutics
• Positive Sentiment: BTIG Research also cut its target, to $121 from $132, while retaining a Buy rating. Analysts appear to believe the RA result is not necessarily representative of SPY072’s opportunity in other autoimmune diseases or combination therapies. Spyre Therapeutics Price Target Update
• Neutral Sentiment: Analyst commentary characterized the SKYWAY data as mixed: SPY072 showed biological activity in RA, but the benefit was smaller than Spyre’s internal benchmark. The company plans to prioritize broader autoimmune applications and combination strategies rather than pursue the drug as a standalone RA treatment. SYRE Stock Sinks After Mixed SKYWAY Study Data
• Negative Sentiment: Spyre disclosed that the RA program missed its internal efficacy benchmark, prompting the company to drop plans for a solo RA development path for SPY072. The announcement triggered a sharp decrease in the stock as investors reassessed the drug’s commercial potential and clinical risk. Spyre Reveals Mid-Stage Miss for TL1A Antibody

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.