Spyre Therapeutics’ (SYRE) Buy Rating Reiterated at BTIG Research

BTIG Research reaffirmed their buy rating on shares of Spyre Therapeutics (NASDAQ:SYRE) in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a $70.00 target price on the stock.

Other analysts also recently issued reports about the stock. Wells Fargo & Company upped their target price on shares of Spyre Therapeutics from $40.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, February 20th. Wall Street Zen lowered shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Weiss Ratings restated a “sell (e+)” rating on shares of Spyre Therapeutics in a report on Monday, December 29th. JonesTrading raised shares of Spyre Therapeutics from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Monday, December 1st. Finally, Citigroup initiated coverage on shares of Spyre Therapeutics in a report on Wednesday, December 17th. They set a “buy” rating and a $64.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $60.67.

Spyre Therapeutics Stock Down 2.7%

SYRE opened at $47.58 on Tuesday. Spyre Therapeutics has a 52 week low of $10.91 and a 52 week high of $51.06. The stock has a market cap of $3.74 billion, a PE ratio of -22.88 and a beta of 2.93. The business has a 50 day moving average of $39.69 and a 200-day moving average of $30.71.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.70) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.04). Equities analysts anticipate that Spyre Therapeutics will post -4.46 EPS for the current year.

Insider Activity

In other Spyre Therapeutics news, CEO Cameron Turtle sold 15,000 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $32.80, for a total transaction of $492,000.00. Following the completion of the sale, the chief executive officer directly owned 657,540 shares in the company, valued at approximately $21,567,312. This trade represents a 2.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Scott L. Burrows sold 2,500 shares of Spyre Therapeutics stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $40.65, for a total transaction of $101,625.00. Following the completion of the transaction, the chief financial officer directly owned 97,994 shares of the company’s stock, valued at $3,983,456.10. This trade represents a 2.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 32,500 shares of company stock valued at $1,226,475. 15.43% of the stock is owned by insiders.

Institutional Investors Weigh In On Spyre Therapeutics

Institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. increased its position in shares of Spyre Therapeutics by 2,881.7% during the third quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company’s stock valued at $71,000 after acquiring an additional 4,092 shares in the last quarter. Persistent Asset Partners Ltd bought a new position in Spyre Therapeutics in the 4th quarter valued at approximately $74,000. Ameritas Investment Partners Inc. boosted its stake in Spyre Therapeutics by 25.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,091 shares of the company’s stock valued at $76,000 after purchasing an additional 1,045 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Spyre Therapeutics by 182.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,769 shares of the company’s stock valued at $86,000 after purchasing an additional 3,725 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Spyre Therapeutics by 61.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,770 shares of the company’s stock worth $124,000 after purchasing an additional 1,435 shares in the last quarter. Hedge funds and other institutional investors own 80.39% of the company’s stock.

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.