Spyre Therapeutics (NASDAQ:SYRE) Coverage Initiated at Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank initiated coverage on Spyre Therapeutics (NASDAQ:SYRE) with a "buy" rating and a price target of $43.00, suggesting a potential upside of 175.46% from its previous close.
• Spyre Therapeutics currently has a consensus rating of "Buy" from analysts, with a consensus target price of $54.29 after multiple firms provided positive ratings.
• The company reported a loss of ($0.49) EPS in its last quarterly earnings, beating expectations of ($0.73) EPS, indicating better-than-anticipated financial performance.

Stock analysts at Deutsche Bank Aktiengesellschaft started coverage on shares of Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) in a research note issued to investors on Friday,Benzinga reports. The brokerage set a "buy" rating and a $43.00 price target on the stock. Deutsche Bank Aktiengesellschaft's target price would indicate a potential upside of 175.46% from the company's previous close.

Several other research firms have also recently issued reports on SYRE. Wedbush restated an "outperform" rating and set a $65.00 target price on shares of Spyre Therapeutics in a research note on Wednesday, August 6th. Wall Street Zen cut shares of Spyre Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, September 20th. Finally, BTIG Research restated a "buy" rating and issued a $70.00 target price on shares of Spyre Therapeutics in a report on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to MarketBeat, Spyre Therapeutics presently has a consensus rating of "Buy" and a consensus target price of $54.29.

Spyre Therapeutics Trading Down 8.2%

Spyre Therapeutics stock opened at $15.61 on Friday. Spyre Therapeutics has a 12 month low of $10.91 and a 12 month high of $40.26. The stock has a fifty day simple moving average of $16.40 and a two-hundred day simple moving average of $15.74. The firm has a market cap of $942.84 million, a price-to-earnings ratio of -4.59 and a beta of 2.87.

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

Insider Buying and Selling at Spyre Therapeutics

In related news, CFO Scott L. Burrows sold 18,428 shares of the firm's stock in a transaction that occurred on 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 15.43% of the stock is owned by company insiders.

Institutional Trading of Spyre Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SYRE. California State Teachers Retirement System lifted its position in shares of Spyre Therapeutics by 1.8% during the 2nd quarter. California State Teachers Retirement System now owns 33,201 shares of the company's stock valued at $497,000 after buying an additional 603 shares in the last quarter. F m Investments LLC raised its stake in Spyre Therapeutics by 1.4% during the 2nd quarter. F m Investments LLC now owns 52,546 shares of the company's stock worth $787,000 after acquiring an additional 702 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Spyre Therapeutics by 4.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,741 shares of the company's stock worth $527,000 after acquiring an additional 916 shares during the period. AlphaQuest LLC lifted its holdings in Spyre Therapeutics by 30.8% during the second quarter. AlphaQuest LLC now owns 4,174 shares of the company's stock valued at $62,000 after purchasing an additional 983 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its position in shares of Spyre Therapeutics by 25.8% in the second quarter. Ameritas Investment Partners Inc. now owns 5,091 shares of the company's stock worth $76,000 after purchasing an additional 1,045 shares during the period. 80.39% of the stock is owned by hedge funds and other institutional investors.

Spyre Therapeutics Company Profile

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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