Guggenheim Issues Positive Forecast for Spyre Therapeutics (NASDAQ:SYRE) Stock Price

Spyre Therapeutics (NASDAQ:SYRE) had its price objective upped by investment analysts at Guggenheim from $115.00 to $130.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s target price points to a potential upside of 25.18% from the stock’s previous close.

Several other research firms also recently weighed in on SYRE. Leerink Partners boosted their target price on shares of Spyre Therapeutics from $49.00 to $106.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. Wall Street Zen cut shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Robert W. Baird lifted their price objective on shares of Spyre Therapeutics from $65.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 14th. Wells Fargo & Company set a $115.00 price objective on shares of Spyre Therapeutics and gave the company an “overweight” rating in a report on Wednesday. Finally, Mizuho upped their target price on Spyre Therapeutics from $84.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Spyre Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $107.85.

Spyre Therapeutics Stock Performance

Shares of NASDAQ SYRE opened at $103.85 on Wednesday. The company has a market cap of $9.13 billion, a PE ratio of -49.93 and a beta of 3.03. The business has a 50-day simple moving average of $89.28 and a two-hundred day simple moving average of $64.16. Spyre Therapeutics has a fifty-two week low of $14.51 and a fifty-two week high of $108.14.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.40. On average, sell-side analysts predict that Spyre Therapeutics will post -2.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Spyre Therapeutics

In other Spyre Therapeutics news, CFO Scott L. Burrows sold 15,000 shares of Spyre Therapeutics stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $87.13, for a total transaction of $1,306,950.00. Following the completion of the sale, the chief financial officer directly owned 97,994 shares in the company, valued at approximately $8,538,217.22. The trade was a 13.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Michael Thomas Henderson sold 80,000 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $74.40, for a total transaction of $5,952,000.00. Following the transaction, the director directly owned 88,606 shares of the company’s stock, valued at approximately $6,592,286.40. This trade represents a 47.45% decrease in their position. 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. Insiders have sold a total of 176,667 shares of company stock worth $14,177,617 in the last 90 days. Corporate insiders own 15.69% of the company’s stock.

Institutional Investors Weigh In On Spyre Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital International Investors lifted its stake in shares of Spyre Therapeutics by 46.0% in the 4th quarter. Capital International Investors now owns 3,492,541 shares of the company’s stock valued at $114,416,000 after purchasing an additional 1,100,000 shares during the period. Vanguard Group Inc. grew its position in Spyre Therapeutics by 32.3% during the fourth quarter. Vanguard Group Inc. now owns 4,035,074 shares of the company’s stock valued at $132,189,000 after buying an additional 984,344 shares during the period. Seven Grand Managers LLC acquired a new stake in Spyre Therapeutics during the fourth quarter valued at $3,276,000. UBS Group AG grew its position in Spyre Therapeutics by 76.5% during the fourth quarter. UBS Group AG now owns 680,566 shares of the company’s stock valued at $22,295,000 after buying an additional 294,977 shares during the period. Finally, PSP Research LLC purchased a new position in Spyre Therapeutics in the fourth quarter valued at $519,000. 80.39% of the stock is owned by institutional investors and hedge funds.

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.