Spyre Therapeutics, Inc. (NASDAQ:SYRE) Receives Consensus Rating of “Moderate Buy” from Brokerages

Spyre Therapeutics, Inc. (NASDAQ:SYRE) has received a consensus recommendation of “Moderate Buy” from the thirteen analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $101.4167.

A number of brokerages have commented on SYRE. Wall Street Zen downgraded Spyre Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Citigroup raised their price target on Spyre Therapeutics from $64.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Stifel Nicolaus lifted their price target on Spyre Therapeutics from $92.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Jefferies Financial Group boosted their price target on Spyre Therapeutics from $47.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, April 13th. Finally, Leerink Partners increased their price objective on Spyre Therapeutics from $49.00 to $106.00 and gave the stock an “outperform” rating in a report on Monday, April 13th.

Insider Buying and Selling at Spyre Therapeutics

In other Spyre Therapeutics news, CEO Cameron Turtle sold 15,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $70.43, for a total transaction of $1,056,450.00. Following the transaction, the chief executive officer directly owned 597,540 shares in the company, valued at $42,084,742.20. This trade represents a 2.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sheldon Sloan sold 78,333 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $71.50, for a total value of $5,600,809.50. Following the completion of the sale, the insider owned 78,333 shares of the company’s stock, valued at approximately $5,600,809.50. This trade 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. Over the last ninety days, insiders sold 282,500 shares of company stock valued at $21,741,101. Corporate insiders own 15.69% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. GAMMA Investing LLC raised its stake in Spyre Therapeutics by 26.8% during the 2nd quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock valued at $59,000 after purchasing an additional 140 shares during the last quarter. Optimize Financial Inc grew its position in Spyre Therapeutics by 1.5% during the fourth quarter. Optimize Financial Inc now owns 25,331 shares of the company’s stock worth $830,000 after buying an additional 364 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake in Spyre Therapeutics by 0.5% during the third quarter. Mercer Global Advisors Inc. ADV now owns 106,664 shares of the company’s stock valued at $1,788,000 after acquiring an additional 522 shares during the period. Summit Securities Group LLC bought a new stake in shares of Spyre Therapeutics in the 1st quarter worth approximately $28,000. Finally, California State Teachers Retirement System lifted its position 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 worth $497,000 after acquiring an additional 603 shares during the period. 80.39% of the stock is currently owned by institutional investors and hedge funds.

Spyre Therapeutics Price Performance

Shares of NASDAQ:SYRE opened at $102.13 on Monday. The firm has a fifty day moving average of $85.42 and a two-hundred day moving average of $60.79. Spyre Therapeutics has a 12-month low of $14.51 and a 12-month high of $105.09. The firm has a market capitalization of $8.98 billion, a P/E ratio of -49.10 and a beta of 3.02.

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

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.