Spyre Therapeutics (NASDAQ:SYRE – Get Free Report) had its price objective lifted by stock analysts at BTIG Research from $112.00 to $132.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price target points to a potential upside of 25.32% from the stock’s previous close.
Several other research firms have also recently commented on SYRE. Mizuho boosted their price objective on shares of Spyre Therapeutics from $84.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft lifted their price target on Spyre Therapeutics from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Spyre Therapeutics in a report on Thursday, June 4th. Robert W. Baird set a $120.00 target price on Spyre Therapeutics in a research report on Wednesday, August 5th. Finally, Leerink Partners upped their price target on Spyre Therapeutics from $49.00 to $106.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $111.69.
Read Our Latest Stock Analysis on SYRE
Spyre Therapeutics Price Performance
Spyre Therapeutics (NASDAQ:SYRE – Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.40. On average, research analysts expect that Spyre Therapeutics will post -2.62 earnings per share for the current year.
Insider Transactions at Spyre Therapeutics
In other Spyre Therapeutics news, CEO Cameron Turtle sold 15,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $70.43, for a total transaction of $1,056,450.00. Following the sale, the chief executive officer directly owned 597,540 shares in the company, valued at $42,084,742.20. This represents a 2.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sheldon Sloan sold 8,334 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $87.70, for a total value of $730,891.80. Following the sale, the insider owned 8,334 shares of the company’s stock, valued at approximately $730,891.80. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 142,167 shares of company stock worth $12,779,292. 15.69% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Spyre Therapeutics
A number of institutional investors have recently added to or reduced their stakes in the business. Summit Securities Group LLC acquired a new stake in Spyre Therapeutics in the first quarter valued at $28,000. GAMMA Investing LLC raised its holdings in shares of Spyre Therapeutics by 26.8% during the second quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock valued at $59,000 after purchasing an additional 140 shares during the period. KBC Group NV bought a new position in shares of Spyre Therapeutics during the 1st quarter worth about $69,000. Russell Investments Group Ltd. boosted its position in shares of Spyre Therapeutics by 2,881.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company’s stock worth $71,000 after purchasing an additional 4,092 shares in the last quarter. Finally, Persistent Asset Partners Ltd acquired a new stake in shares of Spyre Therapeutics in the 4th quarter valued at about $74,000. 80.39% of the stock is owned by 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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