Spyre Therapeutics, Inc. (NASDAQ:SYRE) Receives $85.08 Consensus Target Price from Analysts

Spyre Therapeutics, Inc. (NASDAQ:SYRE) has earned an average recommendation of “Buy” from the thirteen research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, ten have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $85.0833.

A number of equities research analysts recently issued reports on SYRE shares. Wall Street Zen raised shares of Spyre Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Spyre Therapeutics from $55.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. BTIG Research raised their price target on shares of Spyre Therapeutics from $70.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Robert W. Baird raised their price target on shares of Spyre Therapeutics from $65.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, April 14th. Finally, Wedbush raised their price target on shares of Spyre Therapeutics from $65.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, April 13th.

Insider Buying and Selling at Spyre Therapeutics

In other Spyre Therapeutics news, CEO Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $49.33, for a total value of $739,950.00. Following the sale, the chief executive officer owned 627,540 shares in the company, valued at $30,956,548.20. The trade was a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Scott L. Burrows sold 7,500 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $49.34, for a total transaction of $370,050.00. Following the completion of the transaction, the chief financial officer directly owned 97,994 shares in the company, valued at $4,835,023.96. The trade was a 7.11% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 62,958 shares of company stock worth $2,734,375 over the last quarter. 15.69% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Spyre Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Optimize Financial Inc boosted its position in shares of Spyre Therapeutics by 1.5% during the 4th quarter. Optimize Financial Inc now owns 25,331 shares of the company’s stock worth $830,000 after purchasing an additional 364 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in shares of Spyre Therapeutics by 0.5% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 106,664 shares of the company’s stock worth $1,788,000 after purchasing an additional 522 shares during the period. California State Teachers Retirement System grew its stake 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 buying an additional 603 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Spyre Therapeutics by 4.5% in the fourth quarter. AQR Capital Management LLC now owns 17,820 shares of the company’s stock valued at $584,000 after buying an additional 773 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of Spyre Therapeutics by 1.1% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 110,456 shares of the company’s stock valued at $1,851,000 after buying an additional 1,172 shares in the last quarter. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Spyre Therapeutics Price Performance

SYRE opened at $73.39 on Friday. The company’s 50 day simple moving average is $46.06 and its two-hundred day simple moving average is $34.63. The firm has a market capitalization of $5.78 billion, a price-to-earnings ratio of -35.28 and a beta of 2.93. Spyre Therapeutics has a 1-year low of $12.28 and a 1-year high of $75.00.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings data on Thursday, February 19th. The company reported ($0.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.04). On average, equities analysts anticipate that Spyre Therapeutics will post -2.8 earnings per share for the current fiscal 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.