Spyre Therapeutics (NASDAQ:SYRE – Get Free Report)‘s stock had its “buy” rating reaffirmed by stock analysts at BTIG Research in a note issued to investors on Monday, Benzinga reports. They currently have a $121.00 price objective on the stock. BTIG Research’s price target suggests a potential upside of 43.32% from the stock’s current price.
SYRE has been the topic of a number of other reports. Mizuho lifted their price objective on shares of Spyre Therapeutics from $84.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Wells Fargo & Company upped their price objective on shares of Spyre Therapeutics from $90.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Wedbush reiterated an “outperform” rating and issued a $123.00 price objective on shares of Spyre Therapeutics in a report on Wednesday, September 9th. Guggenheim boosted their target price on shares of Spyre Therapeutics from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, Robert W. Baird set a $120.00 target price on shares of Spyre Therapeutics in a research report on Wednesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $110.40.
Spyre Therapeutics Stock Up 5.7%
Spyre Therapeutics stock traded up $4.52 during midday trading on Monday, hitting $84.42. 668,837 shares of the stock were exchanged, compared to its average volume of 1,137,733. Spyre Therapeutics has a 52 week low of $21.15 and a 52 week high of $110.18. The company has a fifty day simple moving average of $91.99 and a two-hundred day simple moving average of $84.39. The stock has a market capitalization of $8.60 billion, a PE ratio of -43.29 and a beta of 3.10.
Spyre Therapeutics (NASDAQ:SYRE – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.40. As a group, equities research analysts anticipate that Spyre Therapeutics will post -2.71 EPS for the current fiscal year.
Insider Transactions at Spyre Therapeutics
In other news, Director Jeffrey Albers sold 18,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $104.55, for a total value of $1,881,900.00. Following the completion of the transaction, the director owned 9,360 shares of the company’s stock, valued at $978,588. This represents a 65.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Heidy King-Jones sold 28,933 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $91.03, for a total value of $2,633,770.99. Following the completion of the transaction, the insider directly owned 2,845 shares of the company’s stock, valued at $258,980.35. This represents a 91.05% decrease in their position. 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 ninety days, insiders sold 183,564 shares of company stock worth $16,903,193. 15.69% of the stock is owned by corporate insiders.
Institutional Trading of Spyre Therapeutics
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its holdings in shares of Spyre Therapeutics by 3,241.7% during the 3rd quarter. IFP Advisors Inc now owns 802 shares of the company’s stock worth $71,000 after buying an additional 778 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Spyre Therapeutics in the 3rd quarter worth $53,349,000. GAMMA Investing LLC lifted its holdings in shares of Spyre Therapeutics by 24.4% in the 3rd quarter. GAMMA Investing LLC now owns 825 shares of the company’s stock worth $73,000 after purchasing an additional 162 shares in the last quarter. Engineers Gate Manager LP bought a new position in shares of Spyre Therapeutics in the 2nd quarter worth $3,416,000. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Spyre Therapeutics in the 2nd quarter worth $31,000. Institutional investors and hedge funds own 80.39% of the company’s stock.
Spyre Therapeutics Company Profile
Spyre Therapeutics, Inc is a clinical-stage biotechnology company focused on developing next-generation treatments for inflammatory bowel disease (IBD), including Crohn’s disease and ulcerative colitis. The company’s approach is centered on engineered antibody therapies designed to provide durable disease control, convenient dosing and improved treatment characteristics.
Spyre’s investigational pipeline includes antibody programs directed at important inflammatory pathways, including interleukin-23 (IL-23) and TL1A.
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