Spyre Therapeutics, Inc. (NASDAQ:SYRE) Receives $90.25 Consensus Target Price from Brokerages

Spyre Therapeutics, Inc. (NASDAQ:SYRE) has been given a consensus rating of “Buy” by the thirteen brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, ten have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $90.25.

A number of equities analysts have issued reports on the company. Wells Fargo & Company increased their price target on Spyre Therapeutics from $50.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $102.00 price target on shares of Spyre Therapeutics in a report on Tuesday, May 12th. 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. Wall Street Zen cut Spyre Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Finally, Stifel Nicolaus increased their price target on Spyre Therapeutics from $92.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th.

Insiders Place Their Bets

In other Spyre Therapeutics news, CEO Cameron Turtle sold 15,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $42.19, for a total transaction of $632,850.00. Following the transaction, the chief executive officer directly owned 642,540 shares in the company, valued at approximately $27,108,762.60. This represents a 2.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Thomas Henderson sold 80,000 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $74.40, for a total value of $5,952,000.00. Following the transaction, the director owned 88,606 shares in the company, valued at $6,592,286.40. The trade was a 47.45% 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 have sold a total of 233,791 shares of company stock valued at $15,757,860 over the last 90 days. 15.69% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Spyre Therapeutics

A number of large investors have recently modified their holdings of SYRE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Spyre Therapeutics by 18.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,018 shares of the company’s stock worth $442,000 after purchasing an additional 4,277 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Spyre Therapeutics by 13.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 47,279 shares of the company’s stock worth $708,000 after purchasing an additional 5,723 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Spyre Therapeutics by 30.6% in the 2nd quarter. Rhumbline Advisers now owns 73,168 shares of the company’s stock worth $1,095,000 after purchasing an additional 17,145 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Spyre Therapeutics by 61.4% in the 2nd quarter. New York State Common Retirement Fund now owns 16,565 shares of the company’s stock worth $248,000 after purchasing an additional 6,300 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Spyre Therapeutics by 37.6% in the 2nd quarter. Invesco Ltd. now owns 34,680 shares of the company’s stock worth $519,000 after purchasing an additional 9,473 shares in the last quarter. 80.39% of the stock is currently owned by institutional investors.

Spyre Therapeutics Stock Performance

NASDAQ:SYRE opened at $66.62 on Wednesday. The company has a market capitalization of $5.79 billion, a PE ratio of -32.03 and a beta of 3.12. The company has a 50 day simple moving average of $58.59 and a two-hundred day simple moving average of $41.50. Spyre Therapeutics has a fifty-two week low of $13.93 and a fifty-two week high of $78.80.

Spyre Therapeutics (NASDAQ:SYRE) last released its 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). Research analysts predict that Spyre Therapeutics will post -2.79 EPS for the current 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.