Spyre Therapeutics, Inc. (NASDAQ:SYRE) Given Average Rating of “Buy” by Analysts

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) have been assigned a consensus rating of “Buy” from the thirteen research firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, ten have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $95.8333.

A number of analysts have recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Spyre Therapeutics in a research report on Tuesday, June 16th. Stifel Nicolaus lifted their price target on shares of Spyre Therapeutics from $92.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Jefferies Financial Group boosted their price objective on shares of Spyre Therapeutics from $47.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Spyre Therapeutics from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Finally, Citigroup raised their target price on shares of Spyre Therapeutics from $64.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th.

Spyre Therapeutics Stock Up 0.1%

NASDAQ SYRE opened at $88.89 on Thursday. The firm has a market capitalization of $7.82 billion, a PE ratio of -42.74 and a beta of 3.01. The stock’s 50 day moving average is $77.46 and its 200 day moving average is $53.17. Spyre Therapeutics has a twelve month low of $14.51 and a twelve month high of $102.06.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.08). On average, research analysts anticipate that Spyre Therapeutics will post -2.86 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Michael Thomas Henderson sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $100.00, for a total value of $2,000,000.00. Following the sale, the director owned 68,606 shares in the company, valued at $6,860,600. This represents a 22.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock in a transaction on Monday, June 1st. The shares were sold at an average price of $70.43, for a total value of $1,056,450.00. Following the transaction, the chief executive officer owned 597,540 shares of the company’s stock, valued at $42,084,742.20. The trade was a 2.45% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 251,666 shares of company stock worth $19,036,810. 15.69% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Spyre Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of SYRE. Summit Securities Group LLC purchased a new stake in Spyre Therapeutics during the 1st quarter valued at about $28,000. KBC Group NV bought a new stake in Spyre Therapeutics during the 1st quarter valued at about $69,000. Persistent Asset Partners Ltd purchased a new position in Spyre Therapeutics in the fourth quarter worth about $74,000. ABS Direct Equity Fund LLC purchased a new position in Spyre Therapeutics in the first quarter worth about $141,000. Finally, Royal Bank of Canada raised its holdings in Spyre Therapeutics by 63.5% in the first quarter. Royal Bank of Canada now owns 3,250 shares of the company’s stock worth $164,000 after buying an additional 1,262 shares during the last quarter. 80.39% of the stock is currently owned by institutional investors.

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.