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

Spyre Therapeutics, Inc. (NASDAQ:SYRE) has earned an average recommendation of “Buy” from the ten analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $60.6667.

A number of equities analysts have issued reports on the company. Stifel Nicolaus increased their price objective on Spyre Therapeutics from $70.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Spyre Therapeutics in a report on Monday, December 29th. Wall Street Zen downgraded shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Mizuho upgraded shares of Spyre Therapeutics to a “strong-buy” rating in a research note on Thursday, December 18th. Finally, BTIG Research reissued a “buy” rating and set a $70.00 price target on shares of Spyre Therapeutics in a research report on Monday, March 16th.

Insider Buying and Selling

In related news, CFO Scott L. Burrows sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $40.65, for a total value of $101,625.00. Following the sale, the chief financial officer owned 97,994 shares in the company, valued at $3,983,456.10. This represents a 2.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Cameron Turtle sold 15,000 shares of the firm’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 value of $492,000.00. Following the transaction, the chief executive officer directly owned 657,540 shares of the company’s stock, valued at approximately $21,567,312. This trade represents a 2.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 47,500 shares of company stock valued at $1,686,675 in the last ninety days. Insiders own 15.43% of the company’s stock.

Institutional Investors Weigh In On Spyre Therapeutics

A number of institutional investors have recently modified their holdings of SYRE. Optimize Financial Inc increased its holdings in shares of Spyre Therapeutics by 1.5% during the fourth quarter. Optimize Financial Inc now owns 25,331 shares of the company’s stock valued at $830,000 after acquiring an additional 364 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in Spyre Therapeutics by 0.5% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 106,664 shares of the company’s stock valued at $1,788,000 after purchasing an additional 522 shares during the last quarter. California State Teachers Retirement System grew its position in Spyre Therapeutics by 1.8% during the 2nd quarter. California State Teachers Retirement System now owns 33,201 shares of the company’s stock valued at $497,000 after purchasing an additional 603 shares during the last quarter. F m Investments LLC increased its stake in Spyre Therapeutics by 1.4% during the 2nd quarter. F m Investments LLC now owns 52,546 shares of the company’s stock valued at $787,000 after purchasing an additional 702 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Spyre Therapeutics by 4.5% during the fourth quarter. AQR Capital Management LLC now owns 17,820 shares of the company’s stock valued at $584,000 after acquiring an additional 773 shares in the last quarter. 80.39% of the stock is owned by hedge funds and other institutional investors.

Spyre Therapeutics Stock Performance

Spyre Therapeutics stock opened at $47.31 on Tuesday. Spyre Therapeutics has a fifty-two week low of $10.91 and a fifty-two week high of $49.31. The stock’s 50 day simple moving average is $38.54 and its two-hundred day simple moving average is $29.92. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of -22.75 and a beta of 3.09.

Spyre Therapeutics (NASDAQ:SYRE) last announced its 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). On average, analysts predict that Spyre Therapeutics will post -4.46 earnings per share for the current year.

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.