Spyre Therapeutics, Inc. (NASDAQ:SYRE) Receives Average Recommendation of “Moderate Buy” from Analysts

Spyre Therapeutics, Inc. (NASDAQ:SYRE) has been given an average recommendation of “Moderate Buy” by the fifteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, twelve have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $111.6923.

A number of analysts recently weighed in on SYRE shares. Wedbush raised their price target on shares of Spyre Therapeutics from $100.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft lifted their target price on Spyre Therapeutics from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Wolfe Research cut Spyre Therapeutics from an “outperform” rating to a “peer perform” rating in a report on Tuesday, July 28th. Wall Street Zen lowered Spyre Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, August 16th. Finally, Wells Fargo & Company boosted their price objective on Spyre Therapeutics from $90.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th.

Insider Buying and Selling at Spyre Therapeutics

In related news, CEO Cameron Turtle sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $95.51, for a total transaction of $1,432,650.00. Following the completion of the sale, the chief executive officer directly owned 567,540 shares of the company’s stock, valued at $54,205,745.40. The trade was a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sheldon Sloan sold 8,334 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $87.70, for a total transaction of $730,891.80. Following the completion of the transaction, the insider owned 8,334 shares in the company, valued at $730,891.80. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 142,167 shares of company stock valued at $12,779,292 over the last 90 days. Company insiders own 15.69% of the company’s stock.

Institutional Investors Weigh In On Spyre Therapeutics

A number of institutional investors have recently made changes to their positions in SYRE. RTW Investments LP raised its holdings in Spyre Therapeutics by 15.2% during the 4th quarter. RTW Investments LP now owns 4,171,996 shares of the company’s stock worth $136,675,000 after buying an additional 550,000 shares during the period. Vanguard Group Inc. lifted its position in Spyre Therapeutics by 32.3% in the fourth quarter. Vanguard Group Inc. now owns 4,035,074 shares of the company’s stock valued at $132,189,000 after purchasing an additional 984,344 shares during the last quarter. Perceptive Advisors LLC lifted its position in Spyre Therapeutics by 23.3% in the first quarter. Perceptive Advisors LLC now owns 3,783,225 shares of the company’s stock valued at $190,826,000 after purchasing an additional 714,000 shares during the last quarter. Capital International Investors boosted its stake in shares of Spyre Therapeutics by 46.0% during the fourth quarter. Capital International Investors now owns 3,492,541 shares of the company’s stock valued at $114,416,000 after purchasing an additional 1,100,000 shares during the period. Finally, Commodore Capital LP boosted its stake in shares of Spyre Therapeutics by 20.1% during the fourth quarter. Commodore Capital LP now owns 2,388,245 shares of the company’s stock valued at $78,239,000 after purchasing an additional 400,161 shares during the period. 80.39% of the stock is owned by institutional investors and hedge funds.

Spyre Therapeutics Stock Performance

Shares of NASDAQ:SYRE opened at $107.79 on Friday. The business has a fifty day moving average of $96.71 and a 200-day moving average of $70.22. Spyre Therapeutics has a twelve month low of $14.51 and a twelve month high of $110.18. The firm has a market cap of $9.48 billion, a PE ratio of -55.28 and a beta of 3.03.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.40. On average, analysts anticipate that Spyre Therapeutics will post -2.62 EPS for the current fiscal 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.