Spyre Therapeutics, Inc. (NASDAQ:SYRE) Receives Consensus Rating of “Buy” from Analysts

Spyre Therapeutics, Inc. (NASDAQ:SYRE) has been assigned an average recommendation of “Buy” from the ten brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, seven have assigned a buy rating and two have given a strong buy rating to 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 research firms have weighed in on SYRE. Leerink Partners upgraded Spyre Therapeutics to a “strong-buy” rating in a research note on Thursday, February 19th. Mizuho raised Spyre Therapeutics to a “strong-buy” rating in a report on Thursday, December 18th. Wells Fargo & Company upped their price objective on Spyre Therapeutics from $40.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, February 20th. Wall Street Zen lowered Spyre Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Finally, BTIG Research reissued a “buy” rating and set a $70.00 target price on shares of Spyre Therapeutics in a research note on Friday, February 20th.

Insider Activity

In related news, CEO Cameron Turtle sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $32.80, for a total transaction of $492,000.00. Following the completion of the transaction, the chief executive officer directly owned 657,540 shares in the company, valued at $21,567,312. This represents a 2.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 45,000 shares of company stock worth $1,387,500. Insiders own 15.43% of the company’s stock.

Institutional Trading of Spyre Therapeutics

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

Spyre Therapeutics Stock Down 1.7%

SYRE stock opened at $43.15 on Friday. The company’s 50-day moving average price is $34.24 and its two-hundred day moving average price is $26.07. The firm has a market cap of $3.39 billion, a P/E ratio of -20.75 and a beta of 3.15. Spyre Therapeutics has a 12 month low of $10.91 and a 12 month high of $45.76.

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

Spyre Therapeutics Company Profile

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.