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 issued to investors on Sunday.

SYRE has been the subject of several other research reports. Wedbush reaffirmed an “outperform” rating and issued a $65.00 price target on shares of Spyre Therapeutics in a report on Wednesday, August 6th. Weiss Ratings restated a “sell (e+)” rating on shares of Spyre Therapeutics in a report on Thursday, November 13th. BTIG Research reaffirmed a “buy” rating and issued a $70.00 target price on shares of Spyre Therapeutics in a research note on Tuesday, September 16th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Spyre Therapeutics in a research report on Friday, September 26th. They set a “buy” rating and a $43.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $50.00.

Spyre Therapeutics Trading Down 1.1%

NASDAQ:SYRE opened at $24.10 on Friday. The company has a market cap of $1.87 billion, a P/E ratio of -7.09 and a beta of 2.99. Spyre Therapeutics has a twelve month low of $10.91 and a twelve month high of $29.09. The company’s 50-day moving average price is $19.93 and its 200-day moving average price is $17.38.

Spyre Therapeutics (NASDAQ:SYRE) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.53. On average, analysts expect that Spyre Therapeutics will post -4.46 earnings per share for the current year.

Insider Buying and Selling at Spyre Therapeutics

In related news, CFO Scott L. Burrows sold 18,428 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $16.26, for a total value of $299,639.28. Following the sale, the chief financial officer directly owned 97,994 shares in the company, valued at approximately $1,593,382.44. The trade was a 15.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Cameron Turtle sold 45,000 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $23.33, for a total transaction of $1,049,850.00. Following the transaction, the chief executive officer directly owned 701,907 shares of the company’s stock, valued at approximately $16,375,490.31. This trade represents a 6.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Spyre Therapeutics

Several large investors have recently made changes to their positions in the stock. CWM LLC increased 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 purchasing an additional 1,338 shares during the last quarter. AlphaQuest LLC boosted its position in shares of Spyre Therapeutics by 45.2% during the first quarter. AlphaQuest LLC now owns 3,191 shares of the company’s stock worth $51,000 after buying an additional 993 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Spyre Therapeutics by 2,881.7% in the third quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company’s stock valued at $71,000 after buying an additional 4,092 shares in the last quarter. Ameritas Investment Partners Inc. raised 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 valued at $76,000 after buying an additional 1,045 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Spyre Therapeutics by 182.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,769 shares of the company’s stock valued at $86,000 after buying an additional 3,725 shares during the period. 80.39% of the stock is currently owned by institutional investors and hedge funds.

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).