Spyre Therapeutics (NASDAQ:SYRE) Now Covered by Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft started coverage on shares of Spyre Therapeutics (NASDAQ:SYRE) in a research report report published on Friday morning, Marketbeat reports. The firm issued a buy rating and a $43.00 price objective on the stock.

SYRE has been the topic of a number of other research reports. Wedbush restated an “outperform” rating and set a $65.00 price target on shares of Spyre Therapeutics in a report on Wednesday, August 6th. Wall Street Zen lowered shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, September 20th. Finally, BTIG Research restated a “buy” rating and set a $70.00 price target on shares of Spyre Therapeutics in a report on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to MarketBeat, Spyre Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $54.29.

Spyre Therapeutics Price Performance

NASDAQ SYRE opened at $16.24 on Friday. The company’s 50 day simple moving average is $16.40 and its 200 day simple moving average is $15.73. Spyre Therapeutics has a 12 month low of $10.91 and a 12 month high of $40.26. The company has a market capitalization of $980.90 million, a P/E ratio of -4.78 and a beta of 2.87.

Spyre Therapeutics (NASDAQ:SYRE) last released its earnings results on Tuesday, August 5th. The company reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.24. On average, analysts anticipate that Spyre Therapeutics will post -4.46 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Scott L. Burrows sold 18,428 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $16.26, for a total transaction of $299,639.28. Following the transaction, the chief financial officer directly owned 97,994 shares of the company’s stock, valued at approximately $1,593,382.44. The trade was a 15.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 15.43% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC grew its position in Spyre Therapeutics by 357.8% during the second quarter. CWM LLC now owns 1,712 shares of the company’s stock valued at $26,000 after purchasing an additional 1,338 shares in the last quarter. AlphaQuest LLC grew its position in Spyre Therapeutics by 45.2% during the first quarter. AlphaQuest LLC now owns 3,191 shares of the company’s stock valued at $51,000 after purchasing an additional 993 shares in the last quarter. GAMMA Investing LLC bought a new stake in Spyre Therapeutics in the first quarter worth approximately $70,000. Ameritas Investment Partners Inc. grew its position in Spyre Therapeutics by 25.8% in the second quarter. Ameritas Investment Partners Inc. now owns 5,091 shares of the company’s stock worth $76,000 after acquiring an additional 1,045 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Spyre Therapeutics by 182.2% in the second quarter. Tower Research Capital LLC TRC now owns 5,769 shares of the company’s stock worth $86,000 after acquiring an additional 3,725 shares in the last quarter. 80.39% of the stock is owned by hedge funds and other institutional investors.

Spyre Therapeutics Company Profile

Spyre Therapeutics, Inc, a preclinical stage biotechnology company, focuses on developing therapeutics for patients living with inflammatory bowel disease (IBD). It develops SPY001, a human monoclonal immunoglobulin G1 antibody designed to bind selectively to the a4ß7 integrin being developed for the treatment of IBD (ulcerative colitis and Crohn's disease).