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

Spyre Therapeutics, Inc. (NASDAQ:SYRE) has earned a consensus recommendation of “Buy” from the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $53.4444.

A number of research analysts recently issued reports on the company. Citigroup assumed coverage on Spyre Therapeutics in a report on Wednesday, December 17th. They set a “buy” rating and a $64.00 target price on the stock. Wall Street Zen lowered shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Leerink Partners raised shares of Spyre Therapeutics to a “strong-buy” rating in a research note on Thursday, February 19th. Weiss Ratings reissued a “sell (e+)” rating on shares of Spyre Therapeutics in a research note on Monday, December 29th. Finally, Mizuho upgraded shares of Spyre Therapeutics to a “strong-buy” rating in a report on Thursday, December 18th.

Spyre Therapeutics Price Performance

SYRE opened at $40.07 on Friday. The business has a 50 day moving average price of $34.73 and a two-hundred day moving average price of $26.74. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of -19.26 and a beta of 3.09. Spyre Therapeutics has a 1-year low of $10.91 and a 1-year high of $45.76.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.04). Equities analysts expect that Spyre Therapeutics will post -4.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Scott L. Burrows sold 2,500 shares of the firm’s stock in a transaction on 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 sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $42.19, for a total value of $632,850.00. Following the completion of the transaction, the chief executive officer owned 642,540 shares in the company, valued at $27,108,762.60. The trade was a 2.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 47,500 shares of company stock valued at $1,686,675 in the last quarter. Insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Spyre Therapeutics

A number of institutional investors have recently bought and sold shares of SYRE. CWM LLC increased its position in shares of 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 acquiring an additional 1,338 shares in the last quarter. Persistent Asset Partners Ltd purchased a new stake in shares of Spyre Therapeutics in the 4th quarter valued at approximately $74,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in 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 during the period. AlphaQuest LLC grew its position in Spyre Therapeutics by 30.8% during the 2nd quarter. AlphaQuest LLC now owns 4,174 shares of the company’s stock worth $62,000 after purchasing an additional 983 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in Spyre Therapeutics by 2,881.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company’s stock worth $71,000 after purchasing an additional 4,092 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.