Spyre Therapeutics, Inc. (NASDAQ:SYRE) Given Average Rating of "Buy" by Brokerages

Key Points

• Analyst consensus: Buy. Thirteen brokerages cover Spyre Therapeutics with a consensus "Buy" (10 buys, 2 strong buys, 1 sell) and an average 1‑year price target of about $85.08, with several firms recently raising targets (e.g., Stifel to $92, Leerink to $106).
• Insiders selling under 10b5‑1 plans. CFO Scott Burrows sold 7,500 shares and CEO Cameron Turtle sold 15,000 shares on April 1 at roughly $49.33 per share; insiders have sold 62,958 shares (~$2.73M) in the past 90 days and now own 15.43% of the company.
• Stock and financial snapshot. Shares opened at $73.01 and sit near their one‑year high ($75.00) with a $5.75B market cap, but the company is loss‑making (last quarter EPS -$0.70, consensus -4.46 EPS for the year).

Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) has been given a consensus rating of "Buy" by the thirteen brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, ten have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $85.0833.

Several analysts recently commented on the stock. Stifel Nicolaus raised their price objective on shares of Spyre Therapeutics from $70.00 to $92.00 and gave the company a "buy" rating in a research note on Wednesday, March 18th. Robert W. Baird upped their target price on shares of Spyre Therapeutics from $65.00 to $90.00 and gave the stock an "outperform" rating in a research report on Tuesday. Wedbush increased their target price on shares of Spyre Therapeutics from $65.00 to $80.00 and gave the company an "outperform" rating in a report on Monday. Leerink Partners lifted their price target on shares of Spyre Therapeutics from $49.00 to $106.00 and gave the company an "outperform" rating in a research report on Monday, April 13th. Finally, JonesTrading boosted their price target on Spyre Therapeutics from $64.00 to $95.00 and gave the stock a "buy" rating in a research note on Friday.

Insider Buying and Selling

In related news, CFO Scott L. Burrows sold 7,500 shares of Spyre Therapeutics stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $49.34, for a total transaction of $370,050.00. Following the completion of the transaction, the chief financial officer directly owned 97,994 shares of the company's stock, valued at approximately $4,835,023.96. The trade was a 7.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 business's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $49.33, for a total value of $739,950.00. Following the sale, the chief executive officer owned 627,540 shares in the company, valued at approximately $30,956,548.20. The trade was a 2.33% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 62,958 shares of company stock valued at $2,734,375. 15.43% of the stock is owned by insiders.

Institutional Investors Weigh In On Spyre Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Persistent Asset Partners Ltd acquired a new stake in Spyre Therapeutics in the 4th quarter valued at about $74,000. Mirae Asset Global Investments Co. Ltd. raised its position in Spyre Therapeutics by 61.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,770 shares of the company's stock worth $124,000 after acquiring an additional 1,435 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Spyre Therapeutics by 2,881.7% in the third quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company's stock valued at $71,000 after purchasing an additional 4,092 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Spyre Therapeutics by 182.2% in the second quarter. Tower Research Capital LLC TRC now owns 5,769 shares of the company's stock valued at $86,000 after purchasing an additional 3,725 shares in the last quarter. Finally, High Net Worth Advisory Group LLC acquired a new stake in shares of Spyre Therapeutics in the first quarter valued at approximately $303,000. 80.39% of the stock is currently owned by hedge funds and other institutional investors.

Spyre Therapeutics Stock Performance

Spyre Therapeutics stock opened at $73.01 on Friday. Spyre Therapeutics has a one year low of $12.28 and a one year high of $75.00. The business has a fifty day moving average of $45.28 and a two-hundred day moving average of $33.98. The company has a market cap of $5.75 billion, a P/E ratio of -35.10 and a beta of 2.93.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last issued its earnings results on Thursday, February 19th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.04). Sell-side analysts predict that Spyre Therapeutics will post -4.46 EPS for the current year.

Spyre Therapeutics Company Profile

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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