Analysts Set Spyre Therapeutics, Inc. (NASDAQ:SYRE) PT at $53.44

Spyre Therapeutics, Inc. (NASDAQ:SYRE) has earned a consensus recommendation of “Buy” from the ten ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $53.4444.

Several analysts recently weighed in on SYRE shares. JonesTrading upgraded Spyre Therapeutics from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Monday, December 1st. Leerink Partners raised Spyre Therapeutics to a “strong-buy” rating in a research report on Thursday, February 19th. Mizuho upgraded shares of Spyre Therapeutics to a “strong-buy” rating in a research note on Thursday, December 18th. Citigroup initiated coverage on shares of Spyre Therapeutics in a research report on Wednesday, December 17th. They set a “buy” rating and a $64.00 target price on the stock. Finally, BTIG Research reissued a “buy” rating and issued a $70.00 price target on shares of Spyre Therapeutics in a report on Friday, February 20th.

Insider Buying and Selling at Spyre Therapeutics

In related news, CEO Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $32.80, for a total transaction of $492,000.00. Following the sale, the chief executive officer directly owned 657,540 shares of the company’s stock, valued at $21,567,312. This trade represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.20% of the company’s stock.

Institutional Trading of Spyre Therapeutics

A number of hedge funds have recently modified their holdings of the company. Perceptive Advisors LLC grew its holdings in shares of Spyre Therapeutics by 149.6% during the 4th quarter. Perceptive Advisors LLC now owns 3,069,225 shares of the company’s stock worth $100,548,000 after purchasing an additional 1,839,780 shares in the last quarter. Janus Henderson Group PLC lifted its position in Spyre Therapeutics by 13,969.3% in the fourth quarter. Janus Henderson Group PLC now owns 1,829,009 shares of the company’s stock worth $59,918,000 after purchasing an additional 1,816,009 shares during the period. RA Capital Management L.P. acquired a new stake in Spyre Therapeutics during the fourth quarter worth $53,124,000. Remedium Capital Partners LLC bought a new stake in Spyre Therapeutics in the 4th quarter valued at $47,706,000. Finally, TCG Crossover Management LLC acquired a new position in shares of Spyre Therapeutics in the 3rd quarter valued at $18,446,000. Institutional investors own 80.39% of the company’s stock.

Spyre Therapeutics Price Performance

Shares of SYRE opened at $43.01 on Friday. The company has a market capitalization of $3.38 billion, a PE ratio of -20.68 and a beta of 3.08. Spyre Therapeutics has a one year low of $10.91 and a one year high of $45.76. The company’s fifty day moving average price is $34.43 and its 200 day moving average price is $26.39.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.04). Analysts anticipate that Spyre Therapeutics will post -4.46 earnings per share for the current year.

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.