Spyre Therapeutics, Inc. (NASDAQ:SYRE) Stock Has Consensus Target Price of $109.71 According to Analysts

Key Points

• Analyst sentiment is broadly positive: Sixteen analysts rate Spyre Therapeutics a consensus “Moderate Buy,” with 13 buys, one strong buy, one hold and one sell. The average 12-month price target is $109.71, above the reported share price of $85.69.
• Shares remain highly volatile: SYRE has traded between $18.12 and $110.18 over the past year, with a market capitalization of $8.73 billion and a beta of 3.10. The company reported a quarterly loss of $0.36 per share, better than the $0.76 loss analysts expected.
• Insiders have been selling while institutions hold a large stake: Insiders sold 183,564 shares worth roughly $16.9 million over the past 90 days, while institutional investors own 80.39% of the stock. Spyre is developing antibody therapies for inflammatory bowel diseases, including ulcerative colitis and Crohn’s disease.

Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) has received an average rating of "Moderate Buy" from the sixteen research firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, thirteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $109.71.

A number of research firms have commented on SYRE. Wall Street Zen upgraded Spyre Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, October 3rd. Mizuho raised their target price on shares of Spyre Therapeutics from $84.00 to $120.00 and gave the company an "outperform" rating in a report on Monday, July 13th. Robert W. Baird set a $120.00 price target on Spyre Therapeutics in a report on Wednesday, August 5th. Guggenheim upped their target price on shares of Spyre Therapeutics from $115.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Spyre Therapeutics from $135.00 to $127.00 and set a "buy" rating for the company in a research report on Wednesday, August 26th.

Spyre Therapeutics Stock Performance

SYRE stock opened at $85.69 on Friday. Spyre Therapeutics has a one year low of $18.12 and a one year high of $110.18. The firm has a market cap of $8.73 billion, a PE ratio of -43.94 and a beta of 3.10. The firm's 50 day moving average price is $94.15 and its 200-day moving average price is $82.86.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.36) earnings per share for the quarter, topping analysts' consensus estimates of ($0.76) by $0.40. Equities research analysts predict that Spyre Therapeutics will post -2.71 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Cameron Turtle sold 15,000 shares of the business's 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 transaction, the chief executive officer owned 537,540 shares in the company, valued at $49,459,055.40. The trade was a 2.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Heidy King-Jones sold 28,933 shares of the business's stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $91.03, for a total value of $2,633,770.99. Following the completion of the transaction, the insider directly owned 2,845 shares in the company, valued at approximately $258,980.35. The trade was a 91.05% decrease in their position. 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 have sold 183,564 shares of company stock worth $16,903,193. Insiders own 15.69% of the company's stock.

Hedge Funds Weigh In On Spyre Therapeutics

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in Spyre Therapeutics by 26.8% in the second quarter. GAMMA Investing LLC now owns 663 shares of the company's stock valued at $59,000 after buying an additional 140 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Spyre Therapeutics in the second quarter valued at approximately $31,000. Summit Securities Group LLC purchased a new position in shares of Spyre Therapeutics during the 1st quarter worth $28,000. Royal Bank of Canada boosted its stake in Spyre Therapeutics by 63.5% in the 1st quarter. Royal Bank of Canada now owns 3,250 shares of the company's stock worth $164,000 after buying an additional 1,262 shares during the last quarter. Finally, KBC Group NV purchased a new position in shares of Spyre Therapeutics during the 1st quarter worth about $69,000. Hedge funds and other institutional investors own 80.39% of the company's stock.

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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