Spyre Therapeutics (NASDAQ:SYRE – Get Free Report) had its price target hoisted by equities research analysts at Mizuho from $84.00 to $120.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price objective would indicate a potential upside of 22.77% from the stock’s current price.
SYRE has been the subject of several other research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Spyre Therapeutics in a research report on Thursday, June 4th. Stifel Nicolaus upped their price target on shares of Spyre Therapeutics from $92.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Raymond James Financial initiated coverage on Spyre Therapeutics in a report on Monday, April 13th. They issued a “strong-buy” rating and a $80.00 price target for the company. BTIG Research boosted their price objective on Spyre Therapeutics from $98.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Spyre Therapeutics from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Spyre Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $101.42.
Read Our Latest Stock Analysis on SYRE
Spyre Therapeutics Stock Performance
Spyre Therapeutics (NASDAQ:SYRE – Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.08). Analysts predict that Spyre Therapeutics will post -2.86 earnings per share for the current year.
Insider Activity
In related news, CFO Scott L. Burrows sold 15,000 shares of the firm’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $87.13, for a total transaction of $1,306,950.00. Following the completion of the sale, the chief financial officer directly owned 97,994 shares of the company’s stock, valued at approximately $8,538,217.22. This trade represents a 13.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sheldon Sloan sold 78,333 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $71.50, for a total transaction of $5,600,809.50. Following the sale, the insider directly owned 78,333 shares of the company’s stock, valued at approximately $5,600,809.50. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 282,500 shares of company stock valued at $21,741,101 over the last ninety days. 15.69% of the stock is owned by company insiders.
Institutional Trading of Spyre Therapeutics
A number of hedge funds and other institutional investors have recently modified their holdings of SYRE. Summit Securities Group LLC purchased a new position in Spyre Therapeutics in the first quarter valued at about $28,000. GAMMA Investing LLC increased its holdings in Spyre Therapeutics by 26.8% during the 2nd quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock worth $59,000 after purchasing an additional 140 shares during the last quarter. KBC Group NV acquired a new position in shares of Spyre Therapeutics in the 1st quarter valued at approximately $69,000. Russell Investments Group Ltd. raised its position in shares of Spyre Therapeutics by 2,881.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company’s stock valued at $71,000 after purchasing an additional 4,092 shares in the last quarter. Finally, Persistent Asset Partners Ltd purchased a new position in shares of Spyre Therapeutics during the 4th quarter valued at approximately $74,000. 80.39% of the stock is owned by hedge funds and other institutional investors.
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.
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