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 report published on Saturday.

A number of other research firms have also recently commented on SYRE. Robert W. Baird set a $120.00 target price on shares of Spyre Therapeutics in a research note on Wednesday, August 5th. Guggenheim upped their price target on shares of Spyre Therapeutics from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Wedbush increased their price objective on shares of Spyre Therapeutics from $100.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Leerink Partners raised their price objective on shares of Spyre Therapeutics from $49.00 to $106.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Finally, Wolfe Research downgraded shares of Spyre Therapeutics from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Spyre Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $110.15.

Spyre Therapeutics Stock Up 0.4%

Shares of SYRE opened at $105.33 on Friday. The business has a 50-day simple moving average of $91.86 and a two-hundred day simple moving average of $66.16. Spyre Therapeutics has a 52 week low of $14.51 and a 52 week high of $108.14. The stock has a market cap of $9.26 billion, a price-to-earnings ratio of -54.02 and a beta of 3.03.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.40. On average, equities analysts anticipate that Spyre Therapeutics will post -2.62 earnings per share for the current fiscal year.

Insider Activity at Spyre Therapeutics

In related news, CFO Scott L. Burrows sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $95.57, for a total value of $716,775.00. Following the transaction, the chief financial officer directly owned 97,994 shares of the company’s stock, valued at approximately $9,365,286.58. The trade was a 7.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 completion of the transaction, the director owned 68,606 shares of the company’s stock, valued at $6,860,600. The trade was a 22.57% 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 142,167 shares of company stock worth $12,779,292 in the last three months. Corporate insiders own 15.69% of the company’s stock.

Hedge Funds Weigh In On Spyre Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of SYRE. GAMMA Investing LLC grew its stake in shares of Spyre Therapeutics by 26.8% in the 2nd quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock worth $59,000 after buying an additional 140 shares in the last quarter. Optimize Financial Inc raised its position in shares of Spyre Therapeutics by 1.5% during the 4th quarter. Optimize Financial Inc now owns 25,331 shares of the company’s stock valued at $830,000 after buying an additional 364 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of Spyre Therapeutics by 0.5% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 106,664 shares of the company’s stock valued at $1,788,000 after buying an additional 522 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Spyre Therapeutics in the 1st quarter valued at about $28,000. Finally, California State Teachers Retirement System lifted its holdings 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 acquiring an additional 603 shares during the last quarter. Institutional investors own 80.39% of the company’s stock.

Spyre Therapeutics Company Profile

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.