Wall Street Zen Downgrades Spyre Therapeutics (NASDAQ:SYRE) to Sell

by · The Markets Daily

Spyre Therapeutics (NASDAQ:SYRE – Get Free Report) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Sunday.

SYRE has been the topic of a number of other research reports. BTIG Research boosted their target price on Spyre Therapeutics from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Citigroup raised their price target on Spyre Therapeutics from $64.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Robert W. Baird set a $120.00 price target on Spyre Therapeutics in a report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft boosted their price target on Spyre Therapeutics from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Finally, Guggenheim increased 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. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Spyre Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $111.69.

Get Our Latest Stock Report on Spyre Therapeutics

Spyre Therapeutics Trading Up 0.9%

Shares of NASDAQ SYRE opened at $104.60 on Friday. Spyre Therapeutics has a one year low of $14.51 and a one year high of $108.14. The firm has a market capitalization of $9.20 billion, a PE ratio of -53.64 and a beta of 3.03. The business has a 50-day moving average price of $94.87 and a two-hundred day moving average price of $68.63.

Spyre Therapeutics (NASDAQ:SYRE – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.40. Research analysts anticipate that Spyre Therapeutics will post -2.62 EPS for the current year.

Insider Buying and Selling at Spyre Therapeutics

In related news, Director Michael Thomas Henderson sold 20,000 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $100.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the director owned 68,606 shares in the company, valued at $6,860,600. This represents a 22.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey W. Albers sold 18,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were 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 directly owned 9,360 shares in the company, valued at $978,588. This trade represents a 65.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 142,167 shares of company stock worth $12,779,292 in the last ninety days. 15.69% of the stock is owned by insiders.

Institutional Investors Weigh In On Spyre Therapeutics

Several hedge funds have recently modified their holdings of the business. Perceptive Advisors LLC grew its stake in shares of Spyre Therapeutics by 149.6% in the fourth quarter. Perceptive Advisors LLC now owns 3,069,225 shares of the company’s stock worth $100,548,000 after acquiring an additional 1,839,780 shares during the last quarter. Janus Henderson Group PLC raised its stake in Spyre Therapeutics by 13,969.3% during the 4th quarter. Janus Henderson Group PLC now owns 1,829,009 shares of the company’s stock valued at $59,918,000 after purchasing an additional 1,816,009 shares during the last quarter. RA Capital Management L.P. bought a new stake in Spyre Therapeutics in the 4th quarter valued at $53,124,000. Remedium Capital Partners LLC bought a new stake in Spyre Therapeutics in the 4th quarter valued at $47,706,000. Finally, TCG Crossover Management LLC acquired a new stake in Spyre Therapeutics in the 3rd quarter worth $18,446,000. 80.39% of the stock is owned by institutional investors.

About Spyre Therapeutics

(Get Free Report)

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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