Spyre Therapeutics (NASDAQ:SYRE – Get Free Report) was upgraded by investment analysts at UBS Group to a “strong-buy” rating in a research report issued to clients and investors on Sunday, Zacks reports.
SYRE has been the subject of several other research reports. 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 note on Wednesday, August 5th. Wedbush reissued an “outperform” rating and set a $123.00 price target on shares of Spyre Therapeutics in a report on Wednesday, September 9th. Wolfe Research lowered shares of Spyre Therapeutics from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft decreased their price target on Spyre Therapeutics from $135.00 to $127.00 and set a “buy” rating for the company in a research note on Wednesday, August 26th. Finally, BTIG Research reiterated a “buy” rating and issued a $121.00 target price on shares of Spyre Therapeutics in a research report on Thursday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $110.40.
View Our Latest Report on SYRE
Spyre Therapeutics Price Performance
Spyre Therapeutics (NASDAQ:SYRE – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.40. On average, sell-side analysts anticipate that Spyre Therapeutics will post -2.71 EPS for the current year.
Insider Activity
In other news, Director Jeffrey Albers sold 18,000 shares of the stock in a transaction 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 sale, the director owned 9,360 shares in the company, valued at $978,588. This represents a 65.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cameron Turtle sold 15,000 shares of the stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $92.01, for a total value 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 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 90 days, insiders sold 183,564 shares of company stock worth $16,903,193. Company insiders own 15.69% of the company’s stock.
Institutional Investors Weigh In On Spyre Therapeutics
Several institutional investors have recently made changes to their positions in SYRE. GAMMA Investing LLC raised its holdings in shares of Spyre Therapeutics by 24.4% during the 3rd quarter. GAMMA Investing LLC now owns 825 shares of the company’s stock valued at $73,000 after purchasing an additional 162 shares in the last quarter. Engineers Gate Manager LP bought a new stake in Spyre Therapeutics during the second quarter worth approximately $3,416,000. Integrated Wealth Concepts LLC acquired a new position in Spyre Therapeutics during the second quarter valued at approximately $31,000. Maven Securities LTD acquired a new position in Spyre Therapeutics during the second quarter valued at approximately $3,551,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Spyre Therapeutics during the 2nd quarter worth $12,394,000. 80.39% of the stock is currently owned by institutional investors and hedge funds.
Spyre Therapeutics Company Profile
Spyre Therapeutics, Inc is a clinical-stage biotechnology company focused on developing antibody therapeutics for inflammatory bowel disease (IBD), including ulcerative colitis and Crohn’s disease. The company is working to create next-generation biologic medicines intended to address significant treatment needs in these chronic gastrointestinal conditions.
Spyre’s pipeline includes programs directed at validated inflammatory pathways, including interleukin-23 (IL-23) and tumor necrosis factor-like ligand 1A (TL1A).
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