Spyre Therapeutics (NASDAQ:SYRE) Upgraded by Wall Street Zen to Hold Rating

Spyre Therapeutics (NASDAQ:SYRE) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Sunday.

SYRE has been the subject of a number of other reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Spyre Therapeutics in a research note on Thursday. Wedbush reiterated an “outperform” rating and issued a $65.00 target price on shares of Spyre Therapeutics in a research report on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft began coverage on Spyre Therapeutics in a report on Friday, September 26th. They issued a “buy” rating and a $43.00 price target for the company. Finally, BTIG Research reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Spyre Therapeutics in a report on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $50.00.

Spyre Therapeutics Trading Up 3.8%

Spyre Therapeutics stock opened at $23.50 on Friday. Spyre Therapeutics has a 52 week low of $10.91 and a 52 week high of $31.35. The stock has a market cap of $1.82 billion, a P/E ratio of -6.91 and a beta of 2.99. The stock has a 50 day moving average of $19.63 and a 200-day moving average of $17.24.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.53. As a group, equities analysts predict that Spyre Therapeutics will post -4.46 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Scott L. Burrows sold 18,428 shares of the company’s 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 completion of the transaction, the chief financial officer directly owned 97,994 shares in the company, valued at $1,593,382.44. The trade was a 15.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Cameron Turtle sold 45,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $23.33, for a total value of $1,049,850.00. Following the completion of the sale, the chief executive officer directly owned 701,907 shares of the company’s stock, valued at $16,375,490.31. This represents a 6.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 15.43% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Spyre Therapeutics

Large investors have recently bought and sold shares of the stock. CWM LLC grew its position in Spyre Therapeutics by 357.8% in the 2nd quarter. CWM LLC now owns 1,712 shares of the company’s stock worth $26,000 after purchasing an additional 1,338 shares during the last quarter. AlphaQuest LLC lifted its stake in shares of Spyre Therapeutics by 45.2% in the first quarter. AlphaQuest LLC now owns 3,191 shares of the company’s stock valued at $51,000 after buying an additional 993 shares during the period. Russell Investments Group Ltd. grew its position in Spyre Therapeutics by 2,881.7% during the third quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company’s stock worth $71,000 after buying an additional 4,092 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in Spyre Therapeutics by 25.8% during 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 during the period. Finally, Tower Research Capital LLC TRC raised its holdings in Spyre Therapeutics by 182.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,769 shares of the company’s stock valued at $86,000 after acquiring an additional 3,725 shares in the last quarter. 80.39% of the stock is currently owned by institutional investors and hedge funds.

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).