Spyre Therapeutics (NASDAQ:SYRE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Spyre Therapeutics (NASDAQ:SYRE) from a sell rating to a hold rating in a research note published on Tuesday morning.

SYRE has been the subject of several other reports. Deutsche Bank Aktiengesellschaft initiated coverage on Spyre Therapeutics in a report on Friday, September 26th. They set a “buy” rating and a $43.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Spyre Therapeutics in a report on Wednesday, October 8th. BTIG Research reiterated a “buy” rating and issued a $70.00 price objective on shares of Spyre Therapeutics in a report on Tuesday, September 16th. Finally, Wedbush reiterated an “outperform” rating and issued a $65.00 price objective on shares of Spyre Therapeutics in a report on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Spyre Therapeutics has a consensus rating of “Buy” and an average target price of $54.29.

Spyre Therapeutics Trading Up 0.2%

SYRE opened at $22.24 on Tuesday. The stock has a market capitalization of $1.34 billion, a P/E ratio of -6.54 and a beta of 2.90. Spyre Therapeutics has a 12-month low of $10.91 and a 12-month high of $40.26. The stock has a 50-day moving average price of $16.84 and a 200-day moving average price of $15.76.

Spyre Therapeutics (NASDAQ:SYRE) last issued its earnings results on Tuesday, August 5th. The company reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($0.73) by $0.24. On average, equities research analysts predict that Spyre Therapeutics will post -4.46 EPS for the current year.

Insider Activity at Spyre Therapeutics

In other news, CFO Scott L. Burrows sold 18,428 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $16.26, for a total value of $299,639.28. Following the completion of the transaction, the chief financial officer owned 97,994 shares in the company, valued at $1,593,382.44. This trade represents a 15.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 15.43% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System lifted its stake in shares of Spyre Therapeutics by 1.8% in 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 period. F m Investments LLC increased its position 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 buying an additional 702 shares in the last quarter. AlphaQuest LLC increased its position in Spyre Therapeutics by 30.8% during the 2nd quarter. AlphaQuest LLC now owns 4,174 shares of the company’s stock valued at $62,000 after buying an additional 983 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in Spyre Therapeutics by 25.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,091 shares of the company’s stock valued at $76,000 after buying an additional 1,045 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in Spyre Therapeutics by 9.7% during the 2nd quarter. ProShare Advisors LLC now owns 12,479 shares of the company’s stock valued at $187,000 after buying an additional 1,101 shares in the last quarter. Hedge funds and other institutional investors own 80.39% of the company’s stock.

About Spyre Therapeutics

Spyre Therapeutics, Inc, a preclinical stage biotechnology company, focuses on developing therapeutics for patients living with inflammatory bowel disease (IBD). It develops SPY001, a human monoclonal immunoglobulin G1 antibody designed to bind selectively to the a4ß7 integrin being developed for the treatment of IBD (ulcerative colitis and Crohn's disease).