Spyre Therapeutics, Inc. (NASDAQ:SYRE) Receives $53.40 Consensus Target Price from Analysts

Key Points

• Spyre Therapeutics, Inc. has received an average rating of "Buy" from seven research firms, with five analysts recommending a buy and two a strong buy, projecting a price target of $53.40.
• The company recently reported an earnings per share (EPS) of ($0.49), beating estimates by $0.24, and expects to post -$4.46 EPS for the current fiscal year.
• Institutional investors hold a significant stake, owning 80.39% of Spyre Therapeutics, with notable increases in holdings from firms like Tower Research and BNP Paribas Financial Markets.

Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) has received an average rating of "Buy" from the seven ratings firms that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $53.40.

SYRE has been the subject of a number of recent analyst reports. Wall Street Zen upgraded Spyre Therapeutics from a "sell" rating to a "hold" rating in a report on Monday. Wedbush reissued an "outperform" rating and set a $65.00 price objective on shares of Spyre Therapeutics in a research report on Wednesday, August 6th.

Insiders Place Their Bets

In related news, CFO Scott L. Burrows sold 18,428 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $16.26, for a total value of $299,639.28. Following the transaction, the chief financial officer owned 97,994 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. Insiders own 6.20% of the company's stock.

Hedge Funds Weigh In On Spyre Therapeutics

Several hedge funds have recently modified their holdings of the company. GF Fund Management CO. LTD. purchased a new position in Spyre Therapeutics in the 4th quarter valued at approximately $29,000. CWM LLC lifted its holdings in shares of 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 during the last quarter. AlphaQuest LLC lifted its holdings in shares of 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 during the last quarter. GAMMA Investing LLC bought a new stake in shares of Spyre Therapeutics during the 1st quarter worth $70,000. Finally, Ameritas Investment Partners Inc. lifted its holdings in shares of 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 during the last quarter. Institutional investors own 80.39% of the company's stock.

Spyre Therapeutics Stock Down 2.3%

Spyre Therapeutics stock traded down $0.39 during trading hours on Friday, reaching $16.36. 46,817 shares of the company's stock were exchanged, compared to its average volume of 594,757. The firm's 50 day simple moving average is $16.49 and its 200 day simple moving average is $16.03. Spyre Therapeutics has a twelve month low of $10.91 and a twelve month high of $40.26. The firm has a market capitalization of $987.86 million, a PE ratio of -4.81 and a beta of 2.87.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.49) earnings per share for the quarter, topping analysts' consensus estimates of ($0.73) by $0.24. Analysts anticipate that Spyre Therapeutics will post -4.46 EPS for the current year.

About Spyre Therapeutics

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).