Spyre Therapeutics (NASDAQ:SYRE) Stock Price Expected to Rise, Guggenheim Analyst Says

Spyre Therapeutics (NASDAQ:SYRE) had its price target lifted by investment analysts at Guggenheim from $115.00 to $130.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s price objective suggests a potential upside of 25.18% from the company’s current price.

Several other brokerages have also commented on SYRE. Deutsche Bank Aktiengesellschaft raised their price target on Spyre Therapeutics from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Leerink Partners increased their target price on shares of Spyre Therapeutics from $49.00 to $106.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Wall Street Zen downgraded shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Mizuho boosted their price target 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, Citigroup upped their price target on shares of Spyre Therapeutics from $64.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Spyre Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $107.85.

Spyre Therapeutics Stock Performance

Shares of NASDAQ SYRE opened at $103.85 on Wednesday. Spyre Therapeutics has a 52-week low of $14.51 and a 52-week high of $108.14. The firm has a market capitalization of $9.13 billion, a price-to-earnings ratio of -49.93 and a beta of 3.03. The stock has a 50 day moving average price of $89.28 and a 200 day moving average price of $64.16.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.40. Analysts forecast that Spyre Therapeutics will post -2.86 earnings per share for the current year.

Insider Buying and Selling

In other Spyre Therapeutics news, insider Sheldon Sloan sold 8,334 shares of Spyre Therapeutics stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $87.70, for a total value of $730,891.80. Following the transaction, the insider owned 8,334 shares in the company, valued at $730,891.80. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Thomas Henderson sold 20,000 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $100.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the director owned 68,606 shares of the company’s stock, valued at $6,860,600. This represents a 22.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 176,667 shares of company stock valued at $14,177,617. Company insiders own 15.69% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SYRE. Summit Securities Group LLC purchased a new stake in Spyre Therapeutics during the first quarter valued at approximately $28,000. GAMMA Investing LLC grew its holdings in Spyre Therapeutics by 26.8% in the second quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock worth $59,000 after purchasing an additional 140 shares during the last quarter. KBC Group NV purchased a new position in Spyre Therapeutics in the first quarter worth $69,000. Persistent Asset Partners Ltd acquired a new position in shares of Spyre Therapeutics during the fourth quarter worth $74,000. Finally, ABS Direct Equity Fund LLC acquired a new position in shares of Spyre Therapeutics during the first quarter worth $141,000. 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 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.