Spyre Therapeutics (NASDAQ:SYRE – Get Free Report)‘s stock had its “buy” rating reaffirmed by equities researchers at BTIG Research in a note issued to investors on Monday, Benzinga reports. They presently have a $121.00 target price on the stock. BTIG Research’s price objective indicates a potential upside of 42.82% from the company’s previous close.
SYRE has been the topic of several other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Spyre Therapeutics in a report on Tuesday, September 1st. Robert W. Baird set a $120.00 price target on shares of Spyre Therapeutics in a research note on Wednesday, August 5th. Wall Street Zen upgraded shares of Spyre Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, October 3rd. Wolfe Research cut shares of Spyre Therapeutics from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, July 28th. Finally, Guggenheim upped their price objective on Spyre Therapeutics from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $110.40.
Get Our Latest Stock Analysis on Spyre Therapeutics
Spyre Therapeutics Price Performance
NASDAQ:SYRE traded up $4.82 on Monday, reaching $84.72. The stock had a trading volume of 1,272,037 shares, compared to its average volume of 1,140,896. The company has a market cap of $8.63 billion, a price-to-earnings ratio of -43.45 and a beta of 3.10. The firm’s fifty day moving average is $91.99 and its two-hundred day moving average is $84.39. Spyre Therapeutics has a 12-month low of $21.15 and a 12-month high of $110.18.
Spyre Therapeutics (NASDAQ:SYRE – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.40. As a group, research analysts forecast that Spyre Therapeutics will post -2.71 earnings per share for the current fiscal year.
Insider Buying and Selling at Spyre Therapeutics
In related news, CEO Cameron Turtle sold 15,000 shares of the company’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $92.01, for a total transaction of $1,380,150.00. Following the completion of the sale, the chief executive officer directly owned 537,540 shares of the company’s stock, valued at approximately $49,459,055.40. This represents a 2.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Scott Burrows sold 18,232 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $89.35, for a total value of $1,629,029.20. Following the completion of the sale, the chief financial officer owned 79,762 shares of the company’s stock, valued at approximately $7,126,734.70. This represents a 18.61% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 183,564 shares of company stock valued at $16,903,193. 15.69% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Spyre Therapeutics
Several hedge funds and other institutional investors have recently bought and sold shares of SYRE. Perceptive Advisors LLC grew its position in Spyre Therapeutics by 23.3% in the first quarter. Perceptive Advisors LLC now owns 3,783,225 shares of the company’s stock valued at $190,826,000 after acquiring an additional 714,000 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Spyre Therapeutics by 192.6% during the first quarter. Bank of America Corp DE now owns 1,228,093 shares of the company’s stock valued at $61,945,000 after purchasing an additional 808,366 shares during the period. Candriam S.C.A. lifted its position in shares of Spyre Therapeutics by 43.4% during the first quarter. Candriam S.C.A. now owns 610,282 shares of the company’s stock worth $30,783,000 after purchasing an additional 184,748 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Spyre Therapeutics in the 3rd quarter valued at about $53,349,000. Finally, ADAR1 Capital Management LLC boosted its holdings in Spyre Therapeutics by 893.6% in the first quarter. ADAR1 Capital Management LLC now owns 338,323 shares of the company’s stock valued at $17,065,000 after purchasing an additional 304,272 shares during the last quarter. 80.39% of the stock is owned by institutional investors and hedge funds.
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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