Spyre Therapeutics (NASDAQ:SYRE) Price Target Raised to $92.00

Spyre Therapeutics (NASDAQ:SYRE) had its price target boosted by equities researchers at Stifel Nicolaus from $70.00 to $92.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 114.15% from the company’s current price.

A number of other equities analysts have also recently weighed in on the company. Leerink Partners raised Spyre Therapeutics to a “strong-buy” rating in a report on Thursday, February 19th. Citigroup initiated coverage on Spyre Therapeutics in a report on Wednesday, December 17th. They issued a “buy” rating and a $64.00 price objective on the stock. Wells Fargo & Company upped their target price on Spyre Therapeutics from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, February 20th. Wall Street Zen lowered Spyre Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Finally, Mizuho raised shares of Spyre Therapeutics to a “strong-buy” rating in a research note on Thursday, December 18th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $60.67.

Spyre Therapeutics Stock Performance

NASDAQ SYRE traded down $0.99 during mid-day trading on Wednesday, reaching $42.96. 231,255 shares of the stock were exchanged, compared to its average volume of 702,721. The business’s 50 day moving average is $36.62 and its 200-day moving average is $28.47. Spyre Therapeutics has a 1 year low of $10.91 and a 1 year high of $45.76. The company has a market capitalization of $3.37 billion, a P/E ratio of -20.67 and a beta of 3.08.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.04). Equities analysts predict that Spyre Therapeutics will post -4.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Spyre Therapeutics news, CFO Scott L. Burrows sold 2,500 shares of Spyre Therapeutics stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $40.65, for a total transaction of $101,625.00. Following the sale, the chief financial officer owned 97,994 shares of the company’s stock, valued at $3,983,456.10. The trade was a 2.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Cameron Turtle sold 15,000 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $32.80, for a total transaction of $492,000.00. Following the sale, the chief executive officer directly owned 657,540 shares of the company’s stock, valued at $21,567,312. The trade was a 2.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 47,500 shares of company stock worth $1,686,675 in the last 90 days. 6.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Optimize Financial Inc increased its holdings in shares of Spyre Therapeutics by 1.5% in the fourth quarter. Optimize Financial Inc now owns 25,331 shares of the company’s stock valued at $830,000 after purchasing an additional 364 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position 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 worth $1,788,000 after purchasing an additional 522 shares during the last quarter. California State Teachers Retirement System raised its stake in Spyre Therapeutics by 1.8% during the second quarter. California State Teachers Retirement System now owns 33,201 shares of the company’s stock worth $497,000 after purchasing an additional 603 shares during the period. F m Investments LLC raised its stake in Spyre Therapeutics by 1.4% during the second quarter. F m Investments LLC now owns 52,546 shares of the company’s stock worth $787,000 after purchasing an additional 702 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in Spyre Therapeutics by 4.5% in the 4th quarter. AQR Capital Management LLC now owns 17,820 shares of the company’s stock valued at $584,000 after purchasing an additional 773 shares during the last quarter. 80.39% of the stock is owned by hedge funds and other institutional investors.

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.