Spyre Therapeutics (NASDAQ:SYRE) Price Target Raised to $130.00

Spyre Therapeutics (NASDAQ:SYRE) had its price objective increased by Wedbush from $100.00 to $130.00 in a report issued on Wednesday, MarketBeat reports. The firm currently has an outperform rating on the stock.

SYRE has been the subject of a number of other research reports. Wells Fargo & Company lifted their target price on Spyre Therapeutics from $90.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday. Mizuho upped their price target on shares of Spyre Therapeutics from $84.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Citigroup raised their price target on shares of Spyre Therapeutics from $64.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Stifel Nicolaus lifted their price objective on shares of Spyre Therapeutics from $92.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Wolfe Research downgraded shares of Spyre Therapeutics from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $110.15.

Spyre Therapeutics Stock Up 1.4%

Shares of SYRE stock opened at $104.91 on Wednesday. The firm has a 50 day moving average price of $91.17 and a two-hundred day moving average price of $65.43. The company has a market capitalization of $9.23 billion, a PE ratio of -53.80 and a beta of 3.03. Spyre Therapeutics has a 12-month low of $14.51 and a 12-month high of $108.14.

Spyre Therapeutics (NASDAQ:SYRE) last posted its earnings results on Tuesday, August 4th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.40. As a group, research analysts expect that Spyre Therapeutics will post -2.7 EPS for the current year.

Insider Transactions at Spyre Therapeutics

In other news, insider Sheldon Sloan sold 8,334 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $87.70, for a total value of $730,891.80. Following the completion of the transaction, the insider owned 8,334 shares of the company’s stock, valued at $730,891.80. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Thomas Henderson sold 20,000 shares of Spyre Therapeutics stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $100.00, for a total transaction of $2,000,000.00. Following the sale, the director owned 68,606 shares in the company, valued at approximately $6,860,600. This represents a 22.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 119,167 shares of company stock worth $10,375,042 in the last 90 days. 15.69% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Spyre Therapeutics

A number of hedge funds have recently modified their holdings of SYRE. Summit Securities Group LLC bought a new position in Spyre Therapeutics during the 1st quarter worth $28,000. GAMMA Investing LLC grew its position in shares of Spyre Therapeutics by 26.8% in the 2nd quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock valued at $59,000 after buying an additional 140 shares during the last quarter. KBC Group NV acquired a new stake in shares of Spyre Therapeutics in the first quarter valued at about $69,000. Persistent Asset Partners Ltd acquired a new stake in shares of Spyre Therapeutics in the fourth quarter valued at about $74,000. Finally, ABS Direct Equity Fund LLC bought a new position in shares of Spyre Therapeutics during the first quarter worth about $141,000. 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.