Spyre Therapeutics, Inc. (NASDAQ:SYRE) Receives $52.50 Consensus PT from Brokerages

by · The Cerbat Gem

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE – Get Free Report) have received a consensus rating of “Buy” from the nine brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, six have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $52.50.

SYRE has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Spyre Therapeutics in a research note on Wednesday, October 8th. Wall Street Zen upgraded Spyre Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, October 14th. BTIG Research reiterated a “buy” rating and issued a $70.00 price target on shares of Spyre Therapeutics in a research note on Tuesday, September 16th. Wedbush reiterated an “outperform” rating and issued a $65.00 price target on shares of Spyre Therapeutics in a research note on Wednesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Spyre Therapeutics in a research note on Friday, September 26th. They issued a “buy” rating and a $43.00 price target on the stock.

Get Our Latest Stock Report on SYRE

Spyre Therapeutics Stock Up 0.8%

Spyre Therapeutics stock opened at $24.46 on Friday. Spyre Therapeutics has a 52-week low of $10.91 and a 52-week high of $40.26. The firm has a fifty day moving average of $18.40 and a 200-day moving average of $16.57. The firm has a market capitalization of $1.48 billion, a P/E ratio of -7.19 and a beta of 2.90.

Spyre Therapeutics (NASDAQ:SYRE – Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.73) by $0.24. On average, research analysts expect that Spyre Therapeutics will post -4.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other Spyre Therapeutics news, CFO Scott L. Burrows sold 18,428 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $16.26, for a total transaction of $299,639.28. Following the completion of the transaction, the chief financial officer directly owned 97,994 shares of the company’s stock, valued at $1,593,382.44. This trade represents a 15.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 15.43% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. CWM LLC grew its holdings in Spyre Therapeutics by 357.8% during the 2nd quarter. CWM LLC now owns 1,712 shares of the company’s stock worth $26,000 after acquiring an additional 1,338 shares in the last quarter. AlphaQuest LLC grew its holdings in Spyre Therapeutics by 45.2% during the 1st quarter. AlphaQuest LLC now owns 3,191 shares of the company’s stock worth $51,000 after acquiring an additional 993 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in Spyre Therapeutics by 25.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,091 shares of the company’s stock worth $76,000 after acquiring an additional 1,045 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Spyre Therapeutics by 182.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,769 shares of the company’s stock worth $86,000 after acquiring an additional 3,725 shares in the last quarter. Finally, Man Group plc acquired a new position in Spyre Therapeutics during the 2nd quarter worth $162,000. 80.39% of the stock is owned by institutional investors and hedge funds.

About Spyre Therapeutics

(Get Free Report)

Spyre Therapeutics, Inc, a preclinical stage biotechnology company, focuses on developing therapeutics for patients living with inflammatory bowel disease (IBD). It develops SPY001, a human monoclonal immunoglobulin G1 antibody designed to bind selectively to the a4ß7 integrin being developed for the treatment of IBD (ulcerative colitis and Crohn's disease).

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