Spyre Therapeutics (NASDAQ:SYRE) Price Target Raised to $98.00

Spyre Therapeutics (NASDAQ:SYRE) had its price objective boosted by BTIG Research from $70.00 to $98.00 in a report released on Monday, MarketBeat reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus increased their target price on shares of Spyre Therapeutics from $70.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of Spyre Therapeutics in a report on Monday, December 29th. Wells Fargo & Company increased their target price on shares of Spyre Therapeutics from $40.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. Wall Street Zen cut shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Finally, Citigroup assumed coverage on shares of Spyre Therapeutics in a report on Wednesday, December 17th. They issued a “buy” rating and a $64.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $82.50.

Spyre Therapeutics Stock Up 7.8%

SYRE opened at $68.99 on Monday. Spyre Therapeutics has a twelve month low of $12.04 and a twelve month high of $75.00. The company has a 50-day simple moving average of $43.78 and a 200 day simple moving average of $33.33. The stock has a market capitalization of $5.44 billion, a price-to-earnings ratio of -33.17 and a beta of 2.93.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings data on Thursday, February 19th. The company reported ($0.70) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.04). Sell-side analysts anticipate that Spyre Therapeutics will post -4.46 EPS for the current fiscal year.

Insider Activity

In other news, CEO Cameron Turtle sold 15,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 627,540 shares of the company’s stock, valued at $30,956,548.20. This represents a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Scott L. Burrows sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $49.34, for a total value 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 $4,835,023.96. This represents a 7.11% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 62,958 shares of company stock valued at $2,734,375 over the last quarter. 15.43% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SYRE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Spyre Therapeutics by 18.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,018 shares of the company’s stock valued at $442,000 after buying an additional 4,277 shares during the period. JPMorgan Chase & Co. increased its position in Spyre Therapeutics by 13.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 47,279 shares of the company’s stock valued at $708,000 after purchasing an additional 5,723 shares during the period. Rhumbline Advisers increased its position in Spyre Therapeutics by 30.6% during the 2nd quarter. Rhumbline Advisers now owns 73,168 shares of the company’s stock valued at $1,095,000 after purchasing an additional 17,145 shares during the period. New York State Common Retirement Fund increased its position in Spyre Therapeutics by 61.4% during the 2nd quarter. New York State Common Retirement Fund now owns 16,565 shares of the company’s stock valued at $248,000 after purchasing an additional 6,300 shares during the period. Finally, Invesco Ltd. increased its position in Spyre Therapeutics by 37.6% during the 2nd quarter. Invesco Ltd. now owns 34,680 shares of the company’s stock valued at $519,000 after purchasing an additional 9,473 shares during the period. Institutional investors and hedge funds own 80.39% of the company’s stock.

Spyre Therapeutics News Summary

Here are the key news stories impacting Spyre Therapeutics this week:

• Positive Sentiment: Mid?stage clinical data for SPY001 showed reduced disease activity and strong efficacy signals in ulcerative colitis (rapid, deep responses and a clean safety profile), giving the program potential “best?in?class” upside and a clear near?term clinical catalyst. Article Title
• Positive Sentiment: Multiple bullish analyst notes and price?target increases — including a Raymond James initiation with a strong?buy stance and several firms raising targets (e.g., Baird raised its target to $90) — are supporting upside expectations and likely amplifying buying interest. Article Title
• Positive Sentiment: Independent research houses (BTIG, Leerink Partners and others) published bullish forecasts and price?target lifts, reinforcing conviction among institutional investors and contributing to momentum. Article Title
• Neutral Sentiment: Spyre priced an upsized public offering of 6.5M shares at $62.00/share to raise roughly $403M (with a 30?day option for additional shares). This materially improves cash runway for development programs but is dilutive and could weigh on the share count/near?term EPS. Closing expected around April 16, subject to customary conditions. Article Title
• Negative Sentiment: Significant insider selling has been reported over recent months (multiple sales by executives), a flag some investors watch closely for signaling. Heavy insider sales can amplify concern about timing/valuation despite positive news flow. Article Title
• Negative Sentiment: Earlier coverage highlighted an initial negative reaction to plans for a stock offering (shares had fallen on offering news), underscoring how dilution risk can offset clinical and analyst positives. Article Title

About Spyre Therapeutics

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.