Spyre Therapeutics (NASDAQ:SYRE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Spyre Therapeutics (NASDAQ:SYRE) from a sell rating to a hold rating in a report released on Saturday morning.

Several other equities research analysts have also recently weighed in on SYRE. Stifel Nicolaus upped their price target on Spyre Therapeutics from $70.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, March 18th. Deutsche Bank Aktiengesellschaft upped their price target on Spyre Therapeutics from $55.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. JonesTrading upped their price target on Spyre Therapeutics from $64.00 to $95.00 and gave the company a “buy” rating in a research report on Friday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Spyre Therapeutics in a research report on Monday, December 29th. Finally, Leerink Partners upped their price target on Spyre Therapeutics from $49.00 to $106.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $85.08.

Spyre Therapeutics Stock Up 0.5%

NASDAQ SYRE opened at $73.39 on Friday. The company has a market cap of $5.78 billion, a PE ratio of -35.28 and a beta of 2.93. Spyre Therapeutics has a 52 week low of $12.28 and a 52 week high of $75.00. The firm’s 50-day simple moving average is $46.06 and its two-hundred day simple moving average is $34.63.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings data on Thursday, February 19th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.04). As a group, equities research analysts anticipate that Spyre Therapeutics will post -2.8 EPS for the current year.

Insider Buying and Selling

In related news, CFO Scott L. Burrows sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $49.34, for a total value of $370,050.00. Following the transaction, the chief financial officer directly owned 97,994 shares in the company, valued at approximately $4,835,023.96. This represents a 7.11% decrease in their ownership of the stock. The transaction 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, insider Sheldon Sloan sold 7,958 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $50.00, for a total transaction of $397,900.00. Following the completion of the transaction, the insider owned 7,958 shares in the company, valued at approximately $397,900. This trade 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. Over the last three months, insiders have sold 62,958 shares of company stock worth $2,734,375. Insiders own 15.69% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Optimize Financial Inc increased its position in shares of Spyre Therapeutics by 1.5% in the fourth quarter. Optimize Financial Inc now owns 25,331 shares of the company’s stock worth $830,000 after purchasing an additional 364 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of Spyre Therapeutics by 0.5% in the third quarter. Mercer Global Advisors Inc. ADV now owns 106,664 shares of the company’s stock worth $1,788,000 after purchasing an additional 522 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Spyre Therapeutics by 1.8% in the second quarter. California State Teachers Retirement System now owns 33,201 shares of the company’s stock worth $497,000 after purchasing an additional 603 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Spyre Therapeutics by 4.5% in the fourth quarter. AQR Capital Management LLC now owns 17,820 shares of the company’s stock worth $584,000 after purchasing an additional 773 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of Spyre Therapeutics by 1.1% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 110,456 shares of the company’s stock worth $1,851,000 after purchasing an additional 1,172 shares during the last quarter. 80.39% of the stock is currently owned by institutional investors.

Spyre Therapeutics Company Profile

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.