Spyre Therapeutics, Inc. (NASDAQ:SYRE) Given Consensus Recommendation of “Buy” by Brokerages

Spyre Therapeutics, Inc. (NASDAQ:SYRE) has received an average rating of “Buy” from the ten brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, six have issued a buy rating and three have given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $53.8750.

Several equities analysts have recently weighed in on the stock. BTIG Research reaffirmed a “buy” rating and set a $70.00 target price on shares of Spyre Therapeutics in a report on Friday, January 16th. Jones Trading raised shares of Spyre Therapeutics from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Monday, December 1st. Mizuho upgraded shares of Spyre Therapeutics to a “strong-buy” rating in a research report on Thursday, December 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Spyre Therapeutics in a research report on Monday, December 29th. Finally, Citigroup initiated coverage on Spyre Therapeutics in a research note on Wednesday, December 17th. They issued a “buy” rating and a $64.00 price target for the company.

Spyre Therapeutics Stock Down 4.8%

Shares of SYRE stock opened at $31.98 on Monday. Spyre Therapeutics has a 52-week low of $10.91 and a 52-week high of $35.31. The stock has a market cap of $2.48 billion, a PE ratio of -14.60 and a beta of 3.15. The business has a 50-day simple moving average of $32.27 and a 200-day simple moving average of $23.47.

Spyre Therapeutics (NASDAQ:SYRE) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.53. Sell-side analysts anticipate that Spyre Therapeutics will post -4.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Spyre Therapeutics

In other news, CEO Cameron Turtle sold 15,000 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $30.68, for a total transaction of $460,200.00. Following the transaction, the chief executive officer owned 671,907 shares in the company, valued at $20,614,106.76. This trade represents a 2.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 6.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Spyre Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. Affinity Asset Advisors LLC lifted its position in shares of Spyre Therapeutics by 26.0% in the second quarter. Affinity Asset Advisors LLC now owns 606,678 shares of the company’s stock valued at $9,082,000 after acquiring an additional 125,000 shares in the last quarter. Franklin Resources Inc. raised its stake in Spyre Therapeutics by 4.6% in the 2nd quarter. Franklin Resources Inc. now owns 795,275 shares of the company’s stock valued at $11,905,000 after purchasing an additional 34,647 shares during the last quarter. Intech Investment Management LLC lifted its holdings in Spyre Therapeutics by 22.1% in the 2nd quarter. Intech Investment Management LLC now owns 24,945 shares of the company’s stock valued at $373,000 after purchasing an additional 4,517 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Spyre Therapeutics during the 3rd quarter worth $310,000. Finally, Emerald Advisers LLC grew its holdings in shares of Spyre Therapeutics by 3.3% during the second quarter. Emerald Advisers LLC now owns 565,863 shares of the company’s stock worth $8,471,000 after buying an additional 18,036 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 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.