Spyre Therapeutics, Inc. (NASDAQ:SYRE) Given Average Rating of “Buy” by Analysts

Spyre Therapeutics, Inc. (NASDAQ:SYRE) has been given a consensus recommendation of “Buy” by the thirteen brokerages that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, ten have issued a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $85.0833.

Several research analysts recently issued reports on the stock. Robert W. Baird increased their price target 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. Weiss Ratings restated a “sell (e+)” rating on shares of Spyre Therapeutics in a report on Monday, December 29th. BTIG Research raised their target price on shares of Spyre Therapeutics from $70.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, April 13th. Leerink Partners lifted their target price on shares of Spyre Therapeutics from $49.00 to $106.00 and gave the company an “outperform” rating in a report on Monday, April 13th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Spyre Therapeutics from $55.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th.

Insider Buying and Selling at Spyre Therapeutics

In other Spyre Therapeutics news, CFO Scott L. Burrows sold 7,500 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $49.34, for a total value of $370,050.00. Following the sale, the chief financial officer directly owned 97,994 shares of the company’s stock, valued at approximately $4,835,023.96. The trade was a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cameron Turtle sold 15,000 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $49.33, for a total value of $739,950.00. Following the completion of the sale, the chief executive officer directly owned 627,540 shares in the company, valued at approximately $30,956,548.20. This represents a 2.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 62,958 shares of company stock worth $2,734,375. 15.69% of the stock is owned by insiders.

Institutional Trading of Spyre Therapeutics

Institutional investors have recently bought and sold shares of the company. HighVista Strategies LLC increased its position in shares of Spyre Therapeutics by 91.3% during the third quarter. HighVista Strategies LLC now owns 215,746 shares of the company’s stock valued at $3,616,000 after acquiring an additional 102,941 shares in the last quarter. Candriam S.C.A. lifted its position in Spyre Therapeutics by 64.4% in the 3rd quarter. Candriam S.C.A. now owns 404,362 shares of the company’s stock valued at $6,777,000 after acquiring an additional 158,332 shares in the last quarter. AlphaQuest LLC lifted its position in Spyre Therapeutics by 1,485.1% in the 3rd quarter. AlphaQuest LLC now owns 66,163 shares of the company’s stock valued at $1,109,000 after acquiring an additional 61,989 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Spyre Therapeutics by 483.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 275,984 shares of the company’s stock valued at $4,625,000 after purchasing an additional 228,705 shares during the last quarter. Finally, Baker BROS. Advisors LP increased its holdings in shares of Spyre Therapeutics by 59.6% in the 3rd quarter. Baker BROS. Advisors LP now owns 1,000,000 shares of the company’s stock worth $16,760,000 after purchasing an additional 373,297 shares in the last quarter. 80.39% of the stock is owned by hedge funds and other institutional investors.

Spyre Therapeutics Stock Up 0.6%

Shares of SYRE stock opened at $69.67 on Friday. The business’s fifty day moving average is $48.95 and its 200 day moving average is $35.89. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of -33.50 and a beta of 2.93. Spyre Therapeutics has a twelve month low of $12.28 and a twelve month high of $75.00.

Spyre Therapeutics (NASDAQ:SYRE) last announced its quarterly earnings data on Thursday, February 19th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.04). Equities research analysts expect that Spyre Therapeutics will post -2.8 earnings per share for the current fiscal year.

About Spyre Therapeutics

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.