Spyre Therapeutics (NASDAQ:SYRE) Stock Price Expected to Rise, Wedbush Analyst Says

Spyre Therapeutics (NASDAQ:SYRE) had its price objective upped by analysts at Wedbush from $100.00 to $130.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price target would indicate a potential upside of 25.18% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Citigroup raised their price objective on shares of Spyre Therapeutics from $64.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Mizuho boosted their target price on shares of Spyre Therapeutics from $84.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Robert W. Baird increased their target price on shares of Spyre Therapeutics from $65.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 14th. Wall Street Zen cut shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Finally, Jefferies Financial Group lifted their price target on shares of Spyre Therapeutics from $47.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $107.85.

Spyre Therapeutics Price Performance

Shares of Spyre Therapeutics stock opened at $103.85 on Wednesday. The stock’s 50-day moving average is $89.28 and its 200 day moving average is $64.16. Spyre Therapeutics has a one year low of $14.51 and a one year high of $108.14. The firm has a market cap of $9.13 billion, a price-to-earnings ratio of -49.93 and a beta of 3.03.

Spyre Therapeutics (NASDAQ:SYRE) last issued its earnings results on Tuesday, August 4th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.40. On average, sell-side analysts expect that Spyre Therapeutics will post -2.86 EPS for the current fiscal year.

Insider Transactions at Spyre Therapeutics

In other news, CEO Cameron Turtle sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $87.69, for a total transaction of $1,315,350.00. Following the transaction, the chief executive officer directly owned 582,540 shares of the company’s stock, valued at $51,082,932.60. This represents a 2.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sheldon Sloan sold 8,334 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $87.70, for a total value of $730,891.80. Following the transaction, the insider directly owned 8,334 shares in the company, valued at $730,891.80. The trade was a 50.00% decrease in their ownership of the stock. 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 sold 176,667 shares of company stock worth $14,177,617. 15.69% of the stock is currently owned by insiders.

Institutional Trading of Spyre Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its stake in shares of Spyre Therapeutics by 26.8% in the second quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock valued at $59,000 after buying an additional 140 shares in the last quarter. Optimize Financial Inc raised its holdings in shares of Spyre Therapeutics by 1.5% in the 4th quarter. Optimize Financial Inc now owns 25,331 shares of the company’s stock worth $830,000 after acquiring an additional 364 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its position in Spyre Therapeutics by 0.5% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 106,664 shares of the company’s stock valued at $1,788,000 after acquiring an additional 522 shares in the last quarter. Summit Securities Group LLC acquired a new position in Spyre Therapeutics during the 1st quarter valued at about $28,000. Finally, California State Teachers Retirement System increased its holdings in Spyre Therapeutics by 1.8% during the 2nd quarter. California State Teachers Retirement System now owns 33,201 shares of the company’s stock worth $497,000 after purchasing an additional 603 shares in the last quarter. 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.