Brokerages Set Spyre Therapeutics, Inc. (NASDAQ:SYRE) Target Price at $53.88

Spyre Therapeutics, Inc. (NASDAQ:SYRE) has been assigned an average rating of “Buy” from the ten ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and three have assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $53.8750.

A number of equities analysts have recently commented on the stock. Citigroup started coverage on shares of Spyre Therapeutics in a report on Wednesday, December 17th. They set a “buy” rating and a $64.00 price objective for the company. Mizuho raised shares of Spyre Therapeutics to a “strong-buy” rating in a research report on Thursday, December 18th. BTIG Research reaffirmed a “buy” rating and set a $70.00 price objective on shares of Spyre Therapeutics in a report on Friday, January 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Spyre Therapeutics in a report on Monday, December 29th. Finally, Jones Trading raised Spyre Therapeutics from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Monday, December 1st.

Spyre Therapeutics Stock Performance

NASDAQ SYRE opened at $32.07 on Monday. Spyre Therapeutics has a twelve month low of $10.91 and a twelve month high of $35.31. The stock has a market cap of $2.49 billion, a PE ratio of -14.64 and a beta of 3.15. The firm has a 50-day simple moving average of $32.52 and a 200 day simple moving average of $23.76.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.53. Research analysts forecast that Spyre Therapeutics will post -4.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Spyre Therapeutics

In related news, CEO Cameron Turtle sold 15,000 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $32.80, for a total transaction of $492,000.00. Following the completion of the sale, the chief executive officer owned 657,540 shares in the company, valued at $21,567,312. This trade represents a 2.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 45,000 shares of company stock valued at $1,387,500. 15.43% of the stock is currently owned by corporate insiders.

Institutional Trading of Spyre Therapeutics

Several hedge funds have recently modified their holdings of SYRE. Affinity Asset Advisors LLC increased its position in Spyre Therapeutics by 26.0% in the 2nd quarter. Affinity Asset Advisors LLC now owns 606,678 shares of the company’s stock valued at $9,082,000 after acquiring an additional 125,000 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Spyre Therapeutics by 4.6% during the second quarter. Franklin Resources Inc. now owns 795,275 shares of the company’s stock valued at $11,905,000 after purchasing an additional 34,647 shares during the last quarter. Intech Investment Management LLC increased its holdings in shares of Spyre Therapeutics by 22.1% in the second quarter. Intech Investment Management LLC now owns 24,945 shares of the company’s stock valued at $373,000 after purchasing an additional 4,517 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Spyre Therapeutics in the 3rd quarter worth approximately $310,000. Finally, AlphaQuest LLC lifted its holdings in Spyre Therapeutics by 1,485.1% during the 3rd quarter. AlphaQuest LLC now owns 66,163 shares of the company’s stock worth $1,109,000 after buying an additional 61,989 shares in the last quarter. Institutional investors and hedge funds 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.