Spyre Therapeutics (NASDAQ:SYRE) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Spyre Therapeutics (NASDAQ:SYRE) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

Other analysts have also recently issued reports about the stock. Wedbush raised their price target on shares of Spyre Therapeutics from $100.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday. Wolfe Research lowered shares of Spyre Therapeutics from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, July 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Spyre Therapeutics in a research report on Thursday, June 4th. Raymond James Financial began coverage on shares of Spyre Therapeutics in a research note on Monday, April 13th. They issued a “strong-buy” rating and a $80.00 target price for the company. Finally, Jefferies Financial Group lifted their price target on shares of Spyre Therapeutics from $47.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $110.15.

Spyre Therapeutics Stock Performance

NASDAQ:SYRE opened at $104.91 on Friday. The firm has a 50-day simple moving average of $91.17 and a 200-day simple moving average of $65.43. Spyre Therapeutics has a one year low of $14.51 and a one year high of $108.14. The firm has a market cap of $9.23 billion, a P/E ratio of -53.80 and a beta of 3.03.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.40. On average, research analysts predict that Spyre Therapeutics will post -2.62 EPS for the current fiscal year.

Insider Activity at Spyre Therapeutics

In other Spyre Therapeutics news, CEO Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $95.51, for a total transaction of $1,432,650.00. Following the completion of the sale, the chief executive officer directly owned 567,540 shares in the company, valued at approximately $54,205,745.40. The trade was a 2.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Scott L. Burrows sold 7,500 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $95.57, for a total transaction of $716,775.00. Following the completion of the sale, the chief financial officer directly owned 97,994 shares in the company, valued at $9,365,286.58. This trade represents a 7.11% 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. Insiders sold 119,167 shares of company stock valued at $10,375,042 over the last three months. 15.69% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Summit Securities Group LLC acquired a new stake in Spyre Therapeutics during the 1st quarter worth about $28,000. GAMMA Investing LLC lifted its holdings in shares of Spyre Therapeutics by 26.8% in the 2nd quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock valued at $59,000 after buying an additional 140 shares during the period. KBC Group NV acquired a new position in shares of Spyre Therapeutics in the 1st quarter valued at about $69,000. Persistent Asset Partners Ltd acquired a new position in shares of Spyre Therapeutics in the 4th quarter valued at about $74,000. Finally, ABS Direct Equity Fund LLC purchased a new stake in shares of Spyre Therapeutics in the first quarter worth about $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.