Spyre Therapeutics (NASDAQ:SYRE) CEO Sells $632,850.00 in Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CEO Cameron Turtle sold 15,000 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $42.19, for a total transaction of $632,850.00. Following the completion of the sale, the chief executive officer owned 642,540 shares of the company’s stock, valued at approximately $27,108,762.60. The trade was a 2.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Cameron Turtle also recently made the following trade(s):

• On Monday, February 2nd, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The stock was sold at an average price of $32.80, for a total value of $492,000.00.
• On Friday, January 2nd, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The shares were sold at an average price of $30.68, for a total value of $460,200.00.

Spyre Therapeutics Stock Down 1.0%

Spyre Therapeutics stock opened at $40.59 on Friday. The business has a 50 day moving average price of $35.04 and a two-hundred day moving average price of $26.93. Spyre Therapeutics, Inc. has a 12 month low of $10.91 and a 12 month high of $45.76. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of -19.51 and a beta of 3.09.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.04). On average, analysts expect that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Spyre Therapeutics

A number of hedge funds have recently made changes to their positions in the company. RTW Investments LP boosted its position in Spyre Therapeutics by 15.2% in the fourth quarter. RTW Investments LP now owns 4,171,996 shares of the company’s stock valued at $136,675,000 after buying an additional 550,000 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Spyre Therapeutics by 32.3% in the fourth quarter. Vanguard Group Inc. now owns 4,035,074 shares of the company’s stock valued at $132,189,000 after acquiring an additional 984,344 shares during the last quarter. Capital International Investors boosted its holdings 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 worth $114,416,000 after acquiring an additional 1,100,000 shares in the last quarter. Perceptive Advisors LLC boosted its holdings in shares of Spyre Therapeutics by 149.6% in the 4th quarter. Perceptive Advisors LLC now owns 3,069,225 shares of the company’s stock worth $100,548,000 after acquiring an additional 1,839,780 shares in the last quarter. Finally, Commodore Capital LP grew its position in Spyre Therapeutics by 20.1% during the 4th quarter. Commodore Capital LP now owns 2,388,245 shares of the company’s stock worth $78,239,000 after acquiring an additional 400,161 shares during the last quarter. Institutional investors and hedge funds own 80.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SYRE. Citigroup began coverage on shares of Spyre Therapeutics in a research note on Wednesday, December 17th. They issued a “buy” rating and a $64.00 price objective for the company. Mizuho upgraded shares of Spyre Therapeutics to a “strong-buy” rating in a research report on Thursday, December 18th. Wall Street Zen cut shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of Spyre Therapeutics in a research report on Monday, December 29th. Finally, JonesTrading raised Spyre Therapeutics from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Monday, December 1st. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $53.44.

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.