Spyre Therapeutics (NASDAQ:SYRE) Stock Rating Upgraded by Wall Street Zen

Spyre Therapeutics (NASDAQ:SYRE) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Monday.

Separately, Wedbush reaffirmed an “outperform” rating and issued a $65.00 price objective on shares of Spyre Therapeutics in a research note on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to data from MarketBeat, Spyre Therapeutics presently has an average rating of “Buy” and an average price target of $53.40.

Spyre Therapeutics Trading Up 0.7%

Shares of NASDAQ SYRE opened at $16.74 on Monday. The firm has a market cap of $1.01 billion, a P/E ratio of -4.92 and a beta of 2.87. The business’s 50 day moving average is $16.49 and its 200-day moving average is $16.03. Spyre Therapeutics has a 1-year low of $10.91 and a 1-year high of $40.26.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.73) by $0.24. Analysts forecast that Spyre Therapeutics will post -4.46 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Scott L. Burrows sold 18,428 shares of Spyre Therapeutics stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $16.26, for a total value of $299,639.28. Following the completion of the transaction, the chief financial officer directly owned 97,994 shares of the company’s stock, valued at approximately $1,593,382.44. This trade represents a 15.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Spyre Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC increased its holdings in Spyre Therapeutics by 357.8% in the second quarter. CWM LLC now owns 1,712 shares of the company’s stock worth $26,000 after purchasing an additional 1,338 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Spyre Therapeutics during the 4th quarter worth approximately $29,000. AlphaQuest LLC grew its position in shares of Spyre Therapeutics by 45.2% during the 1st quarter. AlphaQuest LLC now owns 3,191 shares of the company’s stock worth $51,000 after buying an additional 993 shares during the period. GAMMA Investing LLC bought a new stake in shares of Spyre Therapeutics in the 1st quarter valued at $70,000. Finally, Ameritas Investment Partners Inc. increased its stake in shares of Spyre Therapeutics by 25.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,091 shares of the company’s stock valued at $76,000 after acquiring an additional 1,045 shares in the last quarter. Institutional investors own 80.39% of the company’s stock.

About Spyre Therapeutics

Spyre Therapeutics, Inc, a preclinical stage biotechnology company, focuses on developing therapeutics for patients living with inflammatory bowel disease (IBD). It develops SPY001, a human monoclonal immunoglobulin G1 antibody designed to bind selectively to the a4ß7 integrin being developed for the treatment of IBD (ulcerative colitis and Crohn's disease).