Deutsche Bank Aktiengesellschaft Issues Positive Forecast for Spyre Therapeutics (NASDAQ:SYRE) Stock Price

Spyre Therapeutics (NASDAQ:SYRE) had its target price lifted by equities research analysts at Deutsche Bank Aktiengesellschaft from $115.00 to $135.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 33.31% from the company’s previous close.

SYRE has been the subject of a number of other research reports. Wall Street Zen cut Spyre Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Robert W. Baird raised their price objective on Spyre Therapeutics from $65.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, April 14th. Stifel Nicolaus lifted their target price on Spyre Therapeutics from $92.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Jefferies Financial Group boosted their target price on Spyre Therapeutics from $47.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Finally, Citigroup increased their target price on shares of Spyre Therapeutics from $64.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $95.83.

Spyre Therapeutics Trading Up 0.9%

NASDAQ SYRE opened at $101.27 on Tuesday. The firm’s 50 day simple moving average is $74.18 and its 200 day simple moving average is $50.42. The firm has a market capitalization of $8.79 billion, a price-to-earnings ratio of -48.59 and a beta of 3.05. Spyre Therapeutics has a 1 year low of $14.00 and a 1 year high of $101.71.

Spyre Therapeutics (NASDAQ:SYRE) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.08). On average, equities research analysts forecast that Spyre Therapeutics will post -2.86 earnings per share for the current year.

Insider Transactions at Spyre Therapeutics

In other Spyre Therapeutics news, insider Sheldon Sloan sold 78,333 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $71.50, for a total value of $5,600,809.50. Following the completion of the transaction, the insider owned 78,333 shares of the company’s stock, valued at $5,600,809.50. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Thomas Henderson sold 80,000 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $74.40, for a total value of $5,952,000.00. Following the completion of the transaction, the director owned 88,606 shares of the company’s stock, valued at $6,592,286.40. This represents a 47.45% 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 have sold a total of 247,124 shares of company stock valued at $17,237,760 over the last quarter. 15.69% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SYRE. Summit Securities Group LLC bought a new stake in Spyre Therapeutics during the 1st quarter worth approximately $28,000. KBC Group NV bought a new position in shares of Spyre Therapeutics during the first quarter valued at $69,000. Persistent Asset Partners Ltd bought a new position in shares of Spyre Therapeutics during the fourth quarter valued at $74,000. ABS Direct Equity Fund LLC acquired a new position in shares of Spyre Therapeutics during the first quarter worth $141,000. Finally, Royal Bank of Canada lifted its holdings in shares of Spyre Therapeutics by 63.5% during the first quarter. Royal Bank of Canada now owns 3,250 shares of the company’s stock worth $164,000 after purchasing an additional 1,262 shares during the period. 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.