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

Spyre Therapeutics, Inc. (NASDAQ:SYRE) has earned an average rating of “Buy” from the ten ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $53.4444.

Several brokerages recently commented on SYRE. Citigroup started coverage on shares of Spyre Therapeutics in a report on Wednesday, December 17th. They set a “buy” rating and a $64.00 target price for the company. Leerink Partners raised Spyre Therapeutics to a “strong-buy” rating in a research report on Thursday, February 19th. BTIG Research reiterated a “buy” rating and set a $70.00 target price on shares of Spyre Therapeutics in a research note on Friday, February 20th. Wells Fargo & Company boosted their price target on Spyre Therapeutics from $40.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, February 20th. Finally, Wall Street Zen lowered Spyre Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 21st.

Insiders Place Their Bets

In other Spyre Therapeutics news, CEO Cameron Turtle sold 15,000 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $32.80, for a total value of $492,000.00. Following the completion of the sale, the chief executive officer owned 657,540 shares of the company’s stock, valued at $21,567,312. The trade was a 2.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 45,000 shares of company stock valued at $1,387,500. 15.43% of the stock is owned by insiders.

Institutional Investors Weigh In On Spyre Therapeutics

Institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Spyre Therapeutics by 18.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,018 shares of the company’s stock worth $442,000 after buying an additional 4,277 shares in the last quarter. CWM LLC lifted its position in shares of Spyre Therapeutics by 357.8% during the 2nd quarter. CWM LLC now owns 1,712 shares of the company’s stock valued at $26,000 after acquiring an additional 1,338 shares during the period. AlphaQuest LLC grew its holdings in shares of Spyre Therapeutics by 30.8% during the 2nd quarter. AlphaQuest LLC now owns 4,174 shares of the company’s stock worth $62,000 after purchasing an additional 983 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Spyre Therapeutics by 9.7% during the 2nd quarter. ProShare Advisors LLC now owns 12,479 shares of the company’s stock worth $187,000 after purchasing an additional 1,101 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Spyre Therapeutics by 15.8% in the second quarter. Geode Capital Management LLC now owns 1,227,232 shares of the company’s stock worth $18,373,000 after purchasing an additional 167,669 shares during the period. 80.39% of the stock is currently owned by institutional investors.

Spyre Therapeutics Trading Down 1.7%

SYRE opened at $43.15 on Friday. Spyre Therapeutics has a 1-year low of $10.91 and a 1-year high of $45.76. The stock’s fifty day simple moving average is $34.24 and its 200 day simple moving average is $26.07. The stock has a market cap of $3.39 billion, a PE ratio of -20.75 and a beta of 3.15.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.04). Equities analysts forecast that Spyre Therapeutics will post -4.46 earnings per share for the current year.

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.