Spyre Therapeutics (NASDAQ:SYRE) Upgraded to “Hold” at Wall Street Zen

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

A number of other equities research analysts also recently commented on SYRE. Wedbush reissued an “outperform” rating and issued a $65.00 price objective on shares of Spyre Therapeutics in a research report on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft started coverage on shares of Spyre Therapeutics in a report on Friday. They set a “buy” rating and a $43.00 price target for the company. Finally, BTIG Research restated a “buy” rating and issued a $70.00 target price on shares of Spyre Therapeutics in a report on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $54.29.

Spyre Therapeutics Price Performance

NASDAQ SYRE opened at $16.36 on Friday. The company has a market capitalization of $988.14 million, a PE ratio of -4.81 and a beta of 2.87. The company has a fifty day moving average of $16.40 and a 200 day moving average of $15.68. Spyre Therapeutics has a 1 year low of $10.91 and a 1 year high of $40.26.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.24. Research analysts expect that Spyre Therapeutics will post -4.46 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Scott L. Burrows sold 18,428 shares of Spyre Therapeutics stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $16.26, for a total value of $299,639.28. Following the completion of the transaction, the chief financial officer directly owned 97,994 shares of the company’s stock, valued at $1,593,382.44. The trade was a 15.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 6.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Spyre Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC raised its stake in shares of Spyre Therapeutics by 357.8% during the 2nd quarter. CWM LLC now owns 1,712 shares of the company’s stock worth $26,000 after purchasing an additional 1,338 shares in the last quarter. AlphaQuest LLC grew its holdings in shares of Spyre Therapeutics by 45.2% during the 1st quarter. AlphaQuest LLC now owns 3,191 shares of the company’s stock worth $51,000 after purchasing an additional 993 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Spyre Therapeutics during the 1st quarter worth $70,000. Ameritas Investment Partners Inc. boosted its stake in Spyre Therapeutics by 25.8% in the second quarter. Ameritas Investment Partners Inc. now owns 5,091 shares of the company’s stock valued at $76,000 after buying an additional 1,045 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Spyre Therapeutics by 182.2% during the second quarter. Tower Research Capital LLC TRC now owns 5,769 shares of the company’s stock valued at $86,000 after purchasing an additional 3,725 shares in the last quarter. 80.39% of the stock is currently owned by institutional investors and hedge funds.

Spyre Therapeutics Company Profile

Spyre Therapeutics, Inc, a preclinical stage biotechnology company, focuses on developing therapeutics for patients living with inflammatory bowel disease (IBD). It develops SPY001, a human monoclonal immunoglobulin G1 antibody designed to bind selectively to the a4ß7 integrin being developed for the treatment of IBD (ulcerative colitis and Crohn's disease).