Spyre Therapeutics, Inc. (NASDAQ:SYRE) Receives Consensus Rating of “Moderate Buy” from Analysts

Spyre Therapeutics, Inc. (NASDAQ:SYRE) has been assigned an average recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $101.4167.

A number of research firms recently weighed in on SYRE. Wall Street Zen cut shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. BTIG Research raised their price target on shares of Spyre Therapeutics from $98.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. Raymond James Financial initiated coverage on shares of Spyre Therapeutics in a research note on Monday, April 13th. They set a “strong-buy” rating and a $80.00 price target for the company. Robert W. Baird lifted their price objective on Spyre Therapeutics from $65.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, April 14th. Finally, Mizuho upped their price objective on Spyre Therapeutics from $84.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, July 13th.

Spyre Therapeutics Price Performance

SYRE opened at $102.13 on Monday. The company has a market capitalization of $8.98 billion, a P/E ratio of -49.10 and a beta of 3.02. The firm’s fifty day moving average price is $85.42 and its two-hundred day moving average price is $60.79. Spyre Therapeutics has a fifty-two week low of $14.51 and a fifty-two week high of $105.09.

Spyre Therapeutics (NASDAQ:SYRE) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.08). On average, equities research analysts expect that Spyre Therapeutics will post -2.86 EPS for the current fiscal year.

Insider Buying and Selling

In other Spyre Therapeutics news, Director Michael Thomas Henderson sold 20,000 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $100.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the director directly owned 68,606 shares in the company, valued at $6,860,600. This represents a 22.57% 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 Spyre Therapeutics stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $87.69, for a total value of $1,315,350.00. Following the transaction, the chief executive officer directly owned 582,540 shares of the company’s stock, valued at approximately $51,082,932.60. The trade was a 2.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 282,500 shares of company stock valued at $21,741,101. 15.69% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Spyre Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Capital International Investors grew its stake in Spyre Therapeutics by 46.0% during the fourth quarter. Capital International Investors now owns 3,492,541 shares of the company’s stock worth $114,416,000 after buying an additional 1,100,000 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Spyre Therapeutics by 483.7% in the third quarter. JPMorgan Chase & Co. now owns 275,984 shares of the company’s stock valued at $4,625,000 after acquiring an additional 228,705 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Spyre Therapeutics by 32.3% in the fourth quarter. Vanguard Group Inc. now owns 4,035,074 shares of the company’s stock valued at $132,189,000 after acquiring an additional 984,344 shares during the last quarter. Seven Grand Managers LLC bought a new position in shares of Spyre Therapeutics in the fourth quarter valued at approximately $3,276,000. Finally, UBS Group AG boosted its holdings in shares of Spyre Therapeutics by 76.5% in the 4th quarter. UBS Group AG now owns 680,566 shares of the company’s stock worth $22,295,000 after acquiring an additional 294,977 shares in the last quarter. 80.39% of the stock is owned by institutional investors.

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.