Insider Selling: Spyre Therapeutics (NASDAQ:SYRE) Insider Sells $730,891.80 in Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) insider Sheldon Sloan sold 8,334 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $87.70, for a total transaction of $730,891.80. Following the sale, the insider owned 8,334 shares of the company’s stock, valued at approximately $730,891.80. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Sheldon Sloan also recently made the following trade(s):

• On Wednesday, June 3rd, Sheldon Sloan sold 8,333 shares of Spyre Therapeutics stock. The shares were sold at an average price of $75.00, for a total value of $624,975.00.
• On Friday, May 1st, Sheldon Sloan sold 78,333 shares of Spyre Therapeutics stock. The stock was sold at an average price of $71.50, for a total value of $5,600,809.50.

Spyre Therapeutics Price Performance

Shares of NASDAQ:SYRE traded down $2.26 during mid-day trading on Thursday, hitting $86.63. The company had a trading volume of 973,914 shares, compared to its average volume of 1,804,648. The company has a market capitalization of $7.62 billion, a PE ratio of -41.65 and a beta of 3.02. Spyre Therapeutics, Inc. has a one year low of $14.51 and a one year high of $102.06. The firm has a fifty day moving average price of $77.77 and a 200 day moving average price of $53.55.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.08). Research analysts expect that Spyre Therapeutics, Inc. will post -2.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SYRE shares. Robert W. Baird boosted their target price on Spyre Therapeutics from $65.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, April 14th. Stifel Nicolaus increased their price target on Spyre Therapeutics from $92.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Leerink Partners raised their price objective on Spyre Therapeutics from $49.00 to $106.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Spyre Therapeutics in a research report on Thursday, June 4th. Finally, Wells Fargo & Company upped their target price on Spyre Therapeutics from $50.00 to $90.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 14th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $95.83.

Institutional Investors Weigh In On Spyre Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Optimize Financial Inc grew its stake in Spyre Therapeutics by 1.5% in the 4th quarter. Optimize Financial Inc now owns 25,331 shares of the company’s stock valued at $830,000 after purchasing an additional 364 shares during the period. Mercer Global Advisors Inc. ADV grew its position in Spyre Therapeutics by 0.5% during the third quarter. Mercer Global Advisors Inc. ADV now owns 106,664 shares of the company’s stock valued at $1,788,000 after buying an additional 522 shares during the period. Summit Securities Group LLC purchased a new stake in Spyre Therapeutics during the first quarter worth about $28,000. California State Teachers Retirement System raised its position in Spyre Therapeutics by 1.8% in the second quarter. California State Teachers Retirement System now owns 33,201 shares of the company’s stock worth $497,000 after acquiring an additional 603 shares during the period. Finally, AQR Capital Management LLC raised its position in Spyre Therapeutics by 4.5% in the fourth quarter. AQR Capital Management LLC now owns 17,820 shares of the company’s stock worth $584,000 after acquiring an additional 773 shares during the period. 80.39% of the stock is owned by institutional investors.

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.