Brokerages Set Spyre Therapeutics, Inc. (NASDAQ:SYRE) Target Price at $101.42

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) have received a consensus recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $101.4167.

A number of equities analysts have commented on SYRE shares. Wells Fargo & Company boosted their price target on shares of Spyre Therapeutics from $50.00 to $90.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 14th. Raymond James Financial started coverage on Spyre Therapeutics in a research report on Monday, April 13th. They set a “strong-buy” rating and a $80.00 price target on the stock. Leerink Partners lifted their price target on Spyre Therapeutics from $49.00 to $106.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Wolfe Research cut Spyre Therapeutics from an “outperform” rating to a “peer perform” rating in a report on Tuesday, July 28th. Finally, Wall Street Zen lowered Spyre Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th.

Spyre Therapeutics Price Performance

Shares of SYRE stock opened at $98.33 on Monday. The firm has a market cap of $8.65 billion, a P/E ratio of -47.27 and a beta of 3.02. The company has a 50 day moving average of $88.23 and a 200-day moving average of $63.20. Spyre Therapeutics has a 12-month low of $14.51 and a 12-month high of $105.09.

Spyre Therapeutics (NASDAQ:SYRE) last released 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). As a group, equities analysts expect that Spyre Therapeutics will post -2.86 EPS for the current year.

Insider Buying and Selling at Spyre Therapeutics

In other Spyre Therapeutics news, Director Michael Thomas Henderson sold 80,000 shares of Spyre Therapeutics stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $74.40, for a total transaction of $5,952,000.00. Following the transaction, the director directly owned 88,606 shares of the company’s stock, valued at approximately $6,592,286.40. This trade represents a 47.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cameron Turtle sold 15,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 597,540 shares of the company’s stock, valued at approximately $42,084,742.20. The trade was a 2.45% 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 176,667 shares of company stock valued at $14,177,617 over the last ninety days. Insiders own 15.69% of the company’s stock.

Institutional Trading of Spyre Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of SYRE. Summit Securities Group LLC bought a new position in shares of Spyre Therapeutics in the first quarter worth approximately $28,000. GAMMA Investing LLC raised its holdings in Spyre Therapeutics by 26.8% during 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 bought a new stake in Spyre Therapeutics during the 1st quarter valued at $69,000. Russell Investments Group Ltd. boosted its position in Spyre Therapeutics by 2,881.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company’s stock valued at $71,000 after buying an additional 4,092 shares during the period. Finally, Persistent Asset Partners Ltd purchased a new stake in Spyre Therapeutics during the 4th quarter valued at $74,000. 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.