Spyre Therapeutics (NASDAQ:SYRE) Price Target Raised to $135.00

Spyre Therapeutics (NASDAQ:SYRE) had its target price hoisted by investment analysts at Deutsche Bank Aktiengesellschaft from $115.00 to $135.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 33.31% from the stock’s previous close.

SYRE has been the subject of several other reports. Raymond James Financial initiated coverage on shares of Spyre Therapeutics in a research report on Monday, April 13th. They set a “strong-buy” rating and a $80.00 price objective for the company. Citigroup upped their price target on shares of Spyre Therapeutics from $64.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. JonesTrading increased their price target on Spyre Therapeutics from $64.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Leerink Partners lifted their price objective on Spyre Therapeutics from $49.00 to $106.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. Finally, Wall Street Zen downgraded Spyre Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $95.83.

Spyre Therapeutics Trading Up 0.9%

Shares of SYRE stock opened at $101.27 on Tuesday. Spyre Therapeutics has a 1-year low of $14.00 and a 1-year high of $101.71. The stock has a market cap of $8.79 billion, a price-to-earnings ratio of -48.59 and a beta of 3.05. The stock has a 50-day moving average of $74.18 and a 200-day moving average of $50.42.

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

Insider Activity at Spyre Therapeutics

In related news, CEO Cameron Turtle sold 15,000 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $71.37, for a total value of $1,070,550.00. Following the completion of the sale, the chief executive officer directly owned 612,540 shares of the company’s stock, valued at $43,716,979.80. The trade was a 2.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Scott L. Burrows sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $71.37, for a total value of $892,125.00. Following the transaction, the chief financial officer directly owned 97,994 shares in the company, valued at approximately $6,993,831.78. This trade represents a 11.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 247,124 shares of company stock worth $17,237,760 over the last three months. 15.69% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Spyre Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Summit Securities Group LLC acquired a new position in shares of Spyre Therapeutics during the first quarter worth approximately $28,000. KBC Group NV bought a new position in shares of Spyre Therapeutics in the 1st quarter worth $69,000. Persistent Asset Partners Ltd acquired a new stake in Spyre Therapeutics in the 4th quarter valued at $74,000. ABS Direct Equity Fund LLC acquired a new stake in Spyre Therapeutics in the 1st quarter valued at $141,000. Finally, Royal Bank of Canada increased its stake in Spyre Therapeutics by 63.5% during the 1st quarter. Royal Bank of Canada now owns 3,250 shares of the company’s stock valued at $164,000 after purchasing an additional 1,262 shares in the last quarter. Institutional investors own 80.39% of the company’s stock.

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.