Spyre Therapeutics (NASDAQ:SYRE) Rating Lowered to Sell at Wall Street Zen

Spyre Therapeutics (NASDAQ:SYRE) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Several other analysts have also commented on the company. BTIG Research reaffirmed a “buy” rating and issued a $70.00 price target on shares of Spyre Therapeutics in a research note on Tuesday, September 16th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Spyre Therapeutics in a research note on Friday, September 26th. They issued a “buy” rating and a $43.00 target price on the stock. Wedbush reiterated an “outperform” rating and set a $65.00 target price on shares of Spyre Therapeutics in a research report on Wednesday, August 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Spyre Therapeutics in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $52.50.

Spyre Therapeutics Stock Up 0.6%

NASDAQ SYRE opened at $22.52 on Friday. Spyre Therapeutics has a twelve month low of $10.91 and a twelve month high of $40.26. The stock has a market cap of $1.36 billion, a P/E ratio of -6.62 and a beta of 2.99. The company’s 50-day simple moving average is $19.01 and its 200 day simple moving average is $16.96.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.53. Research analysts anticipate that Spyre Therapeutics will post -4.46 earnings per share for the current year.

Insider Transactions at Spyre Therapeutics

In other Spyre Therapeutics news, CEO Cameron Turtle sold 45,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $23.33, for a total transaction of $1,049,850.00. Following the sale, the chief executive officer owned 701,907 shares of the company’s stock, valued at $16,375,490.31. This represents a 6.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Scott L. Burrows sold 18,428 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $16.26, for a total transaction of $299,639.28. Following the completion of the sale, the chief financial officer owned 97,994 shares of the company’s stock, valued at $1,593,382.44. The trade was a 15.83% decrease in their position. The SEC filing for this sale provides additional information. 15.43% of the stock is owned by corporate insiders.

Institutional Trading of Spyre Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of SYRE. CWM LLC raised its position in Spyre Therapeutics by 357.8% in the 2nd quarter. CWM LLC now owns 1,712 shares of the company’s stock worth $26,000 after purchasing an additional 1,338 shares during the last quarter. AlphaQuest LLC increased its stake in shares of Spyre Therapeutics by 45.2% in the 1st quarter. AlphaQuest LLC now owns 3,191 shares of the company’s stock valued at $51,000 after buying an additional 993 shares during the period. Ameritas Investment Partners Inc. raised its position in shares of Spyre Therapeutics by 25.8% during 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 lifted its stake in shares of Spyre Therapeutics by 182.2% during the second quarter. Tower Research Capital LLC TRC now owns 5,769 shares of the company’s stock valued at $86,000 after acquiring an additional 3,725 shares during the period. Finally, Man Group plc acquired a new position in shares of Spyre Therapeutics during the second quarter valued at $162,000. Institutional investors and hedge funds own 80.39% of the company’s stock.

Spyre Therapeutics Company Profile

Spyre Therapeutics, Inc, a preclinical stage biotechnology company, focuses on developing therapeutics for patients living with inflammatory bowel disease (IBD). It develops SPY001, a human monoclonal immunoglobulin G1 antibody designed to bind selectively to the a4ß7 integrin being developed for the treatment of IBD (ulcerative colitis and Crohn's disease).