Spyre Therapeutics (NASDAQ:SYRE) Price Target Raised to $92.00 at Stifel Nicolaus

Spyre Therapeutics (NASDAQ:SYRE) had its price target increased by Stifel Nicolaus from $70.00 to $92.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the company. Citigroup initiated coverage on Spyre Therapeutics in a report on Wednesday, December 17th. They issued a “buy” rating and a $64.00 target price for the company. JonesTrading raised Spyre Therapeutics from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Monday, December 1st. Mizuho upgraded Spyre Therapeutics to a “strong-buy” rating in a research report on Thursday, December 18th. Wells Fargo & Company increased their price objective on Spyre Therapeutics from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, February 20th. Finally, Wall Street Zen downgraded shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $60.67.

Spyre Therapeutics Stock Performance

Shares of Spyre Therapeutics stock opened at $43.06 on Wednesday. The firm has a market cap of $3.38 billion, a P/E ratio of -20.70 and a beta of 3.09. The firm’s 50-day simple moving average is $36.86 and its 200-day simple moving average is $28.58. Spyre Therapeutics has a twelve month low of $10.91 and a twelve month high of $45.76.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.04). On average, equities analysts forecast that Spyre Therapeutics will post -4.46 earnings per share for the current fiscal year.

Insider Activity at Spyre Therapeutics

In related news, CFO Scott L. Burrows sold 2,500 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $40.65, for a total transaction of $101,625.00. Following the sale, the chief financial officer directly owned 97,994 shares in the company, valued at $3,983,456.10. This represents a 2.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Cameron Turtle sold 15,000 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $32.80, for a total value of $492,000.00. Following the sale, the chief executive officer directly owned 657,540 shares of the company’s stock, valued at $21,567,312. This represents a 2.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 47,500 shares of company stock worth $1,686,675 over the last three months. 15.43% of the stock is owned by company insiders.

Institutional Trading of Spyre Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Optimize Financial Inc lifted its position in shares of Spyre Therapeutics by 1.5% during the fourth quarter. Optimize Financial Inc now owns 25,331 shares of the company’s stock worth $830,000 after purchasing an additional 364 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of Spyre Therapeutics by 0.5% in the third quarter. Mercer Global Advisors Inc. ADV now owns 106,664 shares of the company’s stock valued at $1,788,000 after purchasing an additional 522 shares in the last quarter. California State Teachers Retirement System raised its position in Spyre Therapeutics by 1.8% in the 2nd quarter. California State Teachers Retirement System now owns 33,201 shares of the company’s stock worth $497,000 after purchasing an additional 603 shares during the last quarter. F m Investments LLC raised its position in Spyre Therapeutics by 1.4% in the 2nd quarter. F m Investments LLC now owns 52,546 shares of the company’s stock worth $787,000 after purchasing an additional 702 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Spyre Therapeutics by 4.5% during the 4th quarter. AQR Capital Management LLC now owns 17,820 shares of the company’s stock worth $584,000 after buying an additional 773 shares in the last quarter. 80.39% of the stock is currently owned by institutional investors and hedge funds.

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.