Spyre Therapeutics, Inc. (NASDAQ:SYRE) Receives $53.88 Average Target Price from Brokerages

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) have been given a consensus rating of “Buy” by the eleven brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, seven have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $53.8750.

SYRE has been the subject of several research reports. Mizuho raised Spyre Therapeutics to a “strong-buy” rating in a research note on Thursday, December 18th. Citigroup initiated coverage on Spyre Therapeutics in a report on Wednesday, December 17th. They issued a “buy” rating and a $64.00 price target on the stock. Jones Trading raised Spyre Therapeutics from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Monday, December 1st. Wall Street Zen raised shares of Spyre Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Spyre Therapeutics in a research report on Friday, September 26th. They set a “buy” rating and a $43.00 price target for the company.

Insider Buying and Selling

In other Spyre Therapeutics news, CEO Cameron Turtle sold 15,000 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $30.68, for a total transaction of $460,200.00. Following the completion of the sale, the chief executive officer owned 671,907 shares in the company, valued at approximately $20,614,106.76. The trade was a 2.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 75,000 shares of company stock worth $1,945,350. 15.43% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Spyre Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Spyre Therapeutics by 18.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,018 shares of the company’s stock valued at $442,000 after buying an additional 4,277 shares during the period. Woodline Partners LP raised its position in shares of Spyre Therapeutics by 31.8% in the 1st quarter. Woodline Partners LP now owns 464,808 shares of the company’s stock valued at $7,500,000 after acquiring an additional 112,128 shares during the period. CWM LLC raised its position in shares of Spyre Therapeutics by 357.8% in the 2nd quarter. CWM LLC now owns 1,712 shares of the company’s stock valued at $26,000 after acquiring an additional 1,338 shares during the period. TD Asset Management Inc boosted its stake in Spyre Therapeutics by 409.5% during the 2nd quarter. TD Asset Management Inc now owns 113,968 shares of the company’s stock worth $1,706,000 after acquiring an additional 91,600 shares during the last quarter. Finally, AlphaQuest LLC grew its holdings in Spyre Therapeutics by 30.8% during the second quarter. AlphaQuest LLC now owns 4,174 shares of the company’s stock valued at $62,000 after purchasing an additional 983 shares during the period. 80.39% of the stock is owned by institutional investors and hedge funds.

Spyre Therapeutics Trading Up 1.6%

Shares of NASDAQ SYRE opened at $30.61 on Thursday. Spyre Therapeutics has a 1-year low of $10.91 and a 1-year high of $35.31. The company has a 50-day moving average of $29.37 and a two-hundred day moving average of $21.60. The company has a market cap of $2.38 billion, a PE ratio of -13.98 and a beta of 3.17.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.53. As a group, equities research analysts forecast that Spyre Therapeutics will post -4.46 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.