Wall Street Zen downgraded shares of Spyre Therapeutics (NASDAQ:SYRE – Free Report) from a hold rating to a sell rating in a research report released on Sunday.
Several other equities analysts have also recently issued reports on the company. Guggenheim upped their price objective on Spyre Therapeutics from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. BTIG Research lifted their target price on Spyre Therapeutics from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Mizuho boosted their price target on Spyre Therapeutics from $84.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Deutsche Bank Aktiengesellschaft upped their price target on Spyre Therapeutics from $115.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Finally, Wedbush increased their price objective on Spyre Therapeutics from $100.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Spyre Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $111.69.
View Our Latest Report on Spyre Therapeutics
Spyre Therapeutics Stock Performance
Spyre Therapeutics (NASDAQ:SYRE – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.40. As a group, equities research analysts forecast that Spyre Therapeutics will post -2.62 EPS for the current fiscal year.
Insiders Place Their Bets
In other Spyre Therapeutics news, Director Michael Thomas Henderson sold 20,000 shares of Spyre Therapeutics stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $100.00, for a total value of $2,000,000.00. Following the completion of the sale, the director owned 68,606 shares of the company’s stock, valued at approximately $6,860,600. The trade was a 22.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sheldon Sloan sold 8,334 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $87.70, for a total transaction 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 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 142,167 shares of company stock worth $12,779,292 in the last 90 days. Insiders own 15.69% of the company’s stock.
Institutional Trading of Spyre Therapeutics
A number of hedge funds have recently bought and sold shares of SYRE. Summit Securities Group LLC purchased a new position in Spyre Therapeutics in the first quarter worth about $28,000. GAMMA Investing LLC grew its stake in shares of Spyre Therapeutics by 26.8% during the 2nd 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 stake in shares of Spyre Therapeutics during the 1st quarter valued at about $69,000. Russell Investments Group Ltd. increased 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 valued at $71,000 after purchasing an additional 4,092 shares during the last quarter. Finally, Persistent Asset Partners Ltd purchased a new stake in shares of Spyre Therapeutics during the 4th quarter valued at about $74,000. Hedge funds and other institutional investors own 80.39% of the company’s stock.
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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