Spyre Therapeutics, Inc. (NASDAQ:SYRE) Receives $91.33 Average Price Target from Brokerages

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) have received an average recommendation of “Buy” from the thirteen analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, ten have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $91.3333.

A number of research firms have recently commented on SYRE. JonesTrading increased their target price on Spyre Therapeutics from $64.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. Wedbush increased their price target on shares of Spyre Therapeutics from $65.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, April 13th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Spyre Therapeutics from $102.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, June 4th. BTIG Research increased their price target on shares of Spyre Therapeutics from $70.00 to $98.00 and gave the company a “buy” rating in a report on Monday, April 13th. Finally, Citigroup increased their price target on shares of Spyre Therapeutics from $64.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, May 6th.

Insider Activity

In related news, insider Sheldon Sloan sold 8,333 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $75.00, for a total transaction of $624,975.00. Following the sale, the insider directly owned 8,333 shares of the company’s stock, valued at $624,975. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 on Monday, June 1st. The shares were sold at an average price of $70.43, for a total value of $1,056,450.00. Following the sale, the chief executive officer directly owned 597,540 shares in the company, valued at $42,084,742.20. This trade represents a 2.45% 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. In the last ninety days, insiders have sold 247,124 shares of company stock worth $17,237,760. Corporate insiders own 15.69% of the company’s stock.

Institutional Investors Weigh In On Spyre Therapeutics

Several institutional investors have recently modified their holdings of the business. Optimize Financial Inc boosted its position in shares of Spyre Therapeutics by 1.5% during the fourth quarter. Optimize Financial Inc now owns 25,331 shares of the company’s stock valued at $830,000 after buying an additional 364 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in Spyre Therapeutics by 0.5% in the third quarter. Mercer Global Advisors Inc. ADV now owns 106,664 shares of the company’s stock worth $1,788,000 after purchasing an additional 522 shares during the last quarter. Summit Securities Group LLC purchased a new stake in Spyre Therapeutics in the first quarter worth approximately $28,000. California State Teachers Retirement System boosted its holdings in Spyre Therapeutics by 1.8% in the second quarter. California State Teachers Retirement System now owns 33,201 shares of the company’s stock worth $497,000 after purchasing an additional 603 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Spyre Therapeutics by 4.5% in the fourth quarter. AQR Capital Management LLC now owns 17,820 shares of the company’s stock worth $584,000 after purchasing an additional 773 shares during the last quarter. 80.39% of the stock is owned by hedge funds and other institutional investors.

Spyre Therapeutics Trading Up 7.6%

NASDAQ SYRE opened at $80.77 on Friday. Spyre Therapeutics has a 12 month low of $13.93 and a 12 month high of $81.62. The stock has a market cap of $7.01 billion, a P/E ratio of -38.83 and a beta of 3.05. The stock’s fifty day moving average price is $68.89 and its 200-day moving average price is $47.54.

Spyre Therapeutics (NASDAQ:SYRE) last released its earnings results on Tuesday, May 5th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.08). As a group, analysts forecast that Spyre Therapeutics will post -2.86 earnings per share 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.