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

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) have been assigned an average rating of “Buy” from the thirteen research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, ten have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $95.8333.

SYRE has been the topic of several recent analyst reports. JonesTrading increased their price objective on Spyre Therapeutics from $64.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Wedbush reissued an “outperform” rating and issued a $100.00 target price on shares of Spyre Therapeutics in a research report on Tuesday, June 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Spyre Therapeutics in a research note on Thursday, June 4th. Wells Fargo & Company raised their price target on shares of Spyre Therapeutics from $50.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, April 14th. Finally, Wall Street Zen lowered shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th.

Insider Activity at Spyre Therapeutics

In other Spyre Therapeutics news, CFO Scott L. Burrows sold 15,000 shares of Spyre Therapeutics stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $87.13, for a total value of $1,306,950.00. Following the completion of the sale, the chief financial officer owned 97,994 shares of the company’s stock, valued at approximately $8,538,217.22. The trade was a 13.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael Thomas Henderson sold 20,000 shares of Spyre Therapeutics stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $100.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the director directly owned 68,606 shares of the company’s stock, valued at approximately $6,860,600. This trade represents a 22.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 251,666 shares of company stock worth $19,036,810. Company insiders own 15.69% of the company’s stock.

Institutional Trading of Spyre Therapeutics

Several large investors have recently modified their holdings of SYRE. Perceptive Advisors LLC grew its holdings in shares of Spyre Therapeutics by 149.6% in the fourth quarter. Perceptive Advisors LLC now owns 3,069,225 shares of the company’s stock worth $100,548,000 after acquiring an additional 1,839,780 shares during the period. Janus Henderson Group PLC boosted its position in Spyre Therapeutics by 13,969.3% in the fourth quarter. Janus Henderson Group PLC now owns 1,829,009 shares of the company’s stock worth $59,918,000 after purchasing an additional 1,816,009 shares during the last quarter. RA Capital Management L.P. purchased a new position in Spyre Therapeutics in the fourth quarter worth about $53,124,000. Remedium Capital Partners LLC bought a new stake in shares of Spyre Therapeutics during the 4th quarter valued at about $47,706,000. Finally, TCG Crossover Management LLC bought a new stake in shares of Spyre Therapeutics during the 3rd quarter valued at about $18,446,000. Institutional investors own 80.39% of the company’s stock.

Spyre Therapeutics Trading Up 0.1%

SYRE stock opened at $88.89 on Thursday. The stock has a market capitalization of $7.82 billion, a PE ratio of -42.74 and a beta of 3.01. Spyre Therapeutics has a 12-month low of $14.51 and a 12-month high of $102.06. The stock’s 50 day simple moving average is $77.46 and its 200 day simple moving average is $53.17.

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