Wall Street Zen Upgrades Spyre Therapeutics (NASDAQ:SYRE) to Hold

Spyre Therapeutics (NASDAQ:SYRE) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other research firms have also weighed in on SYRE. Mizuho boosted their price target on shares of Spyre Therapeutics from $84.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Wolfe Research downgraded Spyre Therapeutics from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, July 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Spyre Therapeutics in a report on Thursday, June 4th. BTIG Research lifted their target price on shares of Spyre Therapeutics from $98.00 to $112.00 and gave the company a “buy” rating in a report on Monday, June 15th. Finally, JonesTrading upped their price target on Spyre Therapeutics from $64.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Spyre Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $110.15.

Spyre Therapeutics Stock Performance

Shares of SYRE stock opened at $104.91 on Friday. Spyre Therapeutics has a 12-month low of $14.51 and a 12-month high of $108.14. The business’s 50 day moving average is $91.17 and its two-hundred day moving average is $65.66. The company has a market capitalization of $9.23 billion, a P/E ratio of -53.80 and a beta of 3.03.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.36) 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 earnings per share for the current fiscal year.

Insider Buying and Selling at Spyre Therapeutics

In other news, CEO Cameron Turtle sold 15,000 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $70.43, for a total transaction of $1,056,450.00. Following the sale, the chief executive officer owned 597,540 shares of the company’s stock, valued at approximately $42,084,742.20. This represents a 2.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Scott L. Burrows sold 15,000 shares of the company’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $87.13, for a total value of $1,306,950.00. Following the sale, the chief financial officer owned 97,994 shares in the company, valued at approximately $8,538,217.22. This trade represents a 13.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 119,167 shares of company stock worth $10,375,042. 15.69% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new position in shares of Spyre Therapeutics during the first quarter worth $28,000. GAMMA Investing LLC lifted its stake in Spyre Therapeutics by 26.8% during 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 stake in Spyre Therapeutics during the first quarter worth approximately $69,000. Russell Investments Group Ltd. boosted its holdings in Spyre Therapeutics by 2,881.7% in the third quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company’s stock valued at $71,000 after purchasing an additional 4,092 shares in the last quarter. Finally, Persistent Asset Partners Ltd acquired a new stake in Spyre Therapeutics during the fourth quarter worth approximately $74,000. 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.