Spyre Therapeutics (NASDAQ:SYRE) Releases Quarterly Earnings Results, Misses Expectations By $0.12 EPS

Spyre Therapeutics (NASDAQ:SYRE) announced its earnings results on Tuesday. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.12), FiscalAI reports.

Spyre Therapeutics Stock Down 3.2%

SYRE stock opened at $95.91 on Thursday. Spyre Therapeutics has a 12 month low of $21.15 and a 12 month high of $110.18. The firm has a market cap of $9.77 billion, a P/E ratio of -35.04 and a beta of 3.24. The company’s 50-day moving average price is $89.52 and its two-hundred day moving average price is $73.83.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SYRE shares. Robert W. Baird set a $120.00 price objective on shares of Spyre Therapeutics in a research report on Wednesday, August 5th. UBS Group initiated coverage on Spyre Therapeutics in a research report on Sunday, October 11th. They issued a “buy” rating and a $120.00 target price on the stock. Wolfe Research lowered Spyre Therapeutics from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, July 28th. Wedbush dropped their price target on Spyre Therapeutics from $123.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Spyre Therapeutics in a research note on Tuesday, September 1st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Spyre Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $110.53.

Insider Activity

In other news, CEO Cameron Turtle sold 15,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $87.29, for a total transaction of $1,309,350.00. Following the completion of the transaction, the chief executive officer owned 552,540 shares of the company’s stock, valued at approximately $48,231,216.60. The trade was a 2.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey W. Albers sold 18,000 shares of Spyre Therapeutics stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $104.55, for a total value of $1,881,900.00. Following the completion of the transaction, the director owned 9,360 shares in the company, valued at approximately $978,588. This represents a 65.79% 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. Insiders have sold a total of 161,064 shares of company stock valued at $14,753,768 over the last quarter. 15.69% of the stock is owned by corporate insiders.

Spyre Therapeutics Company Profile

Spyre Therapeutics, Inc is a clinical-stage biotechnology company focused on developing next-generation treatments for inflammatory bowel disease (IBD), including Crohn’s disease and ulcerative colitis. The company’s approach is centered on engineered antibody therapies designed to provide durable disease control, convenient dosing and improved treatment characteristics.

Spyre’s investigational pipeline includes antibody programs directed at important inflammatory pathways, including interleukin-23 (IL-23) and TL1A.