Spyre Therapeutics (NASDAQ:SYRE) Rating Increased to Hold at Wall Street Zen

Spyre Therapeutics (NASDAQ:SYRE) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

Several other analysts also recently weighed in on the company. Wedbush reiterated an “outperform” rating and set a $65.00 price target on shares of Spyre Therapeutics in a research note on Wednesday, August 6th. BTIG Research reiterated a “buy” rating and set a $70.00 price target on shares of Spyre Therapeutics in a research note on Tuesday, September 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Spyre Therapeutics in a research note on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Spyre Therapeutics in a research note on Friday, September 26th. They issued a “buy” rating and a $43.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $54.29.

Spyre Therapeutics Stock Performance

Spyre Therapeutics stock opened at $18.92 on Tuesday. The business’s 50-day simple moving average is $16.49 and its two-hundred day simple moving average is $15.63. The company has a market cap of $1.14 billion, a PE ratio of -5.56 and a beta of 2.90. Spyre Therapeutics has a fifty-two week low of $10.91 and a fifty-two week high of $40.26.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($0.73) by $0.24. As a group, analysts predict that Spyre Therapeutics will post -4.46 EPS for the current fiscal year.

Insider Transactions at Spyre Therapeutics

In other Spyre Therapeutics news, CFO Scott L. Burrows sold 18,428 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $16.26, for a total transaction of $299,639.28. Following the transaction, the chief financial officer owned 97,994 shares in the company, valued at approximately $1,593,382.44. This represents a 15.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Spyre Therapeutics

Hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System lifted its position in shares of Spyre Therapeutics by 1.8% in the second quarter. California State Teachers Retirement System now owns 33,201 shares of the company’s stock valued at $497,000 after acquiring an additional 603 shares in the last quarter. F m Investments LLC lifted its position in shares of Spyre Therapeutics by 1.4% in the second quarter. F m Investments LLC now owns 52,546 shares of the company’s stock valued at $787,000 after acquiring an additional 702 shares in the last quarter. AlphaQuest LLC lifted its position in shares of Spyre Therapeutics by 30.8% in the second quarter. AlphaQuest LLC now owns 4,174 shares of the company’s stock valued at $62,000 after acquiring an additional 983 shares in the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of Spyre Therapeutics by 25.8% in the second quarter. Ameritas Investment Partners Inc. now owns 5,091 shares of the company’s stock valued at $76,000 after acquiring an additional 1,045 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Spyre Therapeutics by 9.7% in the second quarter. ProShare Advisors LLC now owns 12,479 shares of the company’s stock valued at $187,000 after acquiring an additional 1,101 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, 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).