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 ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have given a buy recommendation and three have given a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $53.8750.

SYRE has been the subject of several analyst reports. Mizuho upgraded Spyre Therapeutics to a “strong-buy” rating in a report on Thursday, December 18th. Wall Street Zen raised shares of Spyre Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. BTIG Research restated a “buy” rating and set a $70.00 price objective on shares of Spyre Therapeutics in a research report on Friday, January 16th. Citigroup initiated coverage on shares of Spyre Therapeutics in a report on Wednesday, December 17th. They issued a “buy” rating and a $64.00 target price on the stock. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Spyre Therapeutics in a report on Monday, December 29th.

Insider Transactions at Spyre Therapeutics

In other Spyre Therapeutics news, CEO Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $30.68, for a total value of $460,200.00. Following the sale, the chief executive officer owned 671,907 shares in the company, valued at $20,614,106.76. The trade was a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.20% of the stock is currently owned by company insiders.

Institutional Trading of Spyre Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of SYRE. CWM LLC raised its holdings in Spyre Therapeutics by 357.8% in the 2nd quarter. CWM LLC now owns 1,712 shares of the company’s stock valued at $26,000 after buying an additional 1,338 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Spyre Therapeutics by 61.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,770 shares of the company’s stock valued at $124,000 after acquiring an additional 1,435 shares during the last quarter. AlphaQuest LLC raised its stake in shares of Spyre Therapeutics by 30.8% in the 2nd quarter. AlphaQuest LLC now owns 4,174 shares of the company’s stock valued at $62,000 after acquiring an additional 983 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Spyre Therapeutics by 2,881.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company’s stock valued at $71,000 after acquiring an additional 4,092 shares during the period. Finally, Ameritas Investment Partners Inc. lifted its holdings in shares of Spyre Therapeutics by 25.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,091 shares of the company’s stock worth $76,000 after acquiring an additional 1,045 shares during the last quarter. 80.39% of the stock is owned by institutional investors and hedge funds.

Spyre Therapeutics Trading Down 4.8%

SYRE stock opened at $31.98 on Monday. The firm has a 50-day moving average of $32.27 and a two-hundred day moving average of $23.47. Spyre Therapeutics has a 12 month low of $10.91 and a 12 month high of $35.31. The company has a market cap of $2.48 billion, a price-to-earnings ratio of -14.60 and a beta of 3.15.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.53. As a group, equities analysts forecast 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.