Brokerages Set Spyre Therapeutics, Inc. (NASDAQ:SYRE) Price Target at $60.67

Spyre Therapeutics, Inc. (NASDAQ:SYRE) has earned a consensus rating of “Buy” from the ten research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $60.6667.

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

Spyre Therapeutics Price Performance

Shares of NASDAQ SYRE opened at $47.52 on Tuesday. The business has a fifty day moving average price of $38.26 and a two-hundred day moving average price of $29.61. The stock has a market capitalization of $3.73 billion, a PE ratio of -22.85 and a beta of 3.09. Spyre Therapeutics has a fifty-two week low of $10.91 and a fifty-two week high of $49.31.

Spyre Therapeutics (NASDAQ:SYRE) last released its 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 expect that Spyre Therapeutics will post -4.46 EPS for the current year.

Insider Buying and Selling at Spyre Therapeutics

In other Spyre Therapeutics news, CEO Cameron Turtle sold 15,000 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $42.19, for a total value of $632,850.00. Following the sale, the chief executive officer owned 642,540 shares of the company’s stock, valued at approximately $27,108,762.60. This trade represents a 2.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Scott L. Burrows sold 2,500 shares of Spyre Therapeutics stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $40.65, for a total value of $101,625.00. Following the completion of the transaction, the chief financial officer owned 97,994 shares in the company, valued at approximately $3,983,456.10. The trade was a 2.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 47,500 shares of company stock valued at $1,686,675 over the last 90 days. Corporate insiders own 15.43% of the company’s stock.

Institutional Trading of Spyre Therapeutics

Several large investors have recently bought and sold shares of the business. Russell Investments Group Ltd. raised its stake 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 acquiring an additional 4,092 shares in the last quarter. Persistent Asset Partners Ltd bought a new position in shares of Spyre Therapeutics in the fourth quarter worth about $74,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Spyre Therapeutics by 25.8% in the second quarter. Ameritas Investment Partners Inc. now owns 5,091 shares of the company’s stock worth $76,000 after acquiring an additional 1,045 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of 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 purchasing an additional 3,725 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Spyre Therapeutics by 61.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,770 shares of the company’s stock valued at $124,000 after purchasing an additional 1,435 shares in the last quarter. 80.39% of the stock is 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.