Spyre Therapeutics, Inc. (NASDAQ:SYRE) Receives Average Rating of “Buy” from Brokerages

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) have earned an average rating of “Buy” from the ten research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $60.6667.

A number of research analysts have issued reports on SYRE shares. Weiss Ratings restated a “sell (e+)” rating on shares of Spyre Therapeutics in a research note on Monday, December 29th. Citigroup assumed coverage on shares of Spyre Therapeutics in a research note on Wednesday, December 17th. They set a “buy” rating and a $64.00 price objective for the company. Stifel Nicolaus boosted their price objective on shares of Spyre Therapeutics from $70.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, March 18th. Wells Fargo & Company upped their target price on Spyre Therapeutics from $40.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, February 20th. Finally, Mizuho upgraded Spyre Therapeutics to a “strong-buy” rating in a research note on Thursday, December 18th.

Spyre Therapeutics Stock Performance

Shares of SYRE stock opened at $42.76 on Tuesday. Spyre Therapeutics has a fifty-two week low of $10.91 and a fifty-two week high of $45.76. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of -20.56 and a beta of 3.09. The stock’s 50-day simple moving average is $37.51 and its 200-day simple moving average is $29.20.

Spyre Therapeutics (NASDAQ:SYRE) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.04). As a group, equities analysts forecast that Spyre Therapeutics will post -4.46 earnings per share for the current year.

Insider Buying and Selling

In other Spyre Therapeutics news, CEO Cameron Turtle sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $42.19, for a total transaction of $632,850.00. Following the completion of the transaction, the chief executive officer directly owned 642,540 shares of the company’s stock, valued at approximately $27,108,762.60. This trade represents a 2.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Scott L. Burrows sold 2,500 shares of Spyre Therapeutics stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $40.65, for a total transaction of $101,625.00. Following the sale, the chief financial officer owned 97,994 shares of the company’s stock, valued at approximately $3,983,456.10. The trade was a 2.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 47,500 shares of company stock worth $1,686,675. 15.43% of the stock is owned by insiders.

Institutional Trading of Spyre Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in SYRE. Persistent Asset Partners Ltd purchased a new position in shares of Spyre Therapeutics during the fourth quarter worth $74,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Spyre Therapeutics by 61.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,770 shares of the company’s stock valued at $124,000 after purchasing an additional 1,435 shares during the last quarter. Russell Investments Group Ltd. grew its position in Spyre Therapeutics by 2,881.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company’s stock worth $71,000 after purchasing an additional 4,092 shares during the period. Ameritas Investment Partners Inc. grew its position in Spyre Therapeutics by 25.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,091 shares of the company’s stock worth $76,000 after purchasing an additional 1,045 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in shares of Spyre Therapeutics by 182.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,769 shares of the company’s stock valued at $86,000 after buying an additional 3,725 shares during the last quarter. Institutional investors and hedge funds own 80.39% of the company’s stock.

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.