Spyre Therapeutics (NASDAQ:SYRE) CFO Sells $716,775.00 in Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CFO Scott Burrows sold 7,500 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $95.57, for a total transaction of $716,775.00. Following the transaction, the chief financial officer directly owned 97,994 shares of the company’s stock, valued at approximately $9,365,286.58. This trade represents a 7.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Spyre Therapeutics Stock Performance

Spyre Therapeutics stock opened at $104.91 on Friday. The firm has a market capitalization of $9.23 billion, a P/E ratio of -53.80 and a beta of 3.03. The company has a 50-day simple moving average of $91.17 and a 200-day simple moving average of $65.43. Spyre Therapeutics, Inc. has a one year low of $14.51 and a one year high of $108.14.

Spyre Therapeutics (NASDAQ:SYRE) last posted its earnings results on Tuesday, August 4th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.40. As a group, sell-side analysts forecast that Spyre Therapeutics, Inc. will post -2.7 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp purchased a new stake in Spyre Therapeutics in the 2nd quarter worth approximately $21,768,000. Handelsbanken Fonder AB acquired a new position in shares of Spyre Therapeutics in the second quarter worth $2,308,000. GAMMA Investing LLC increased its stake in shares of Spyre Therapeutics by 26.8% in the second quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock worth $59,000 after acquiring an additional 140 shares during the last quarter. Seven Fleet Capital Management LP purchased a new stake in shares of Spyre Therapeutics during the first quarter worth $993,000. Finally, Perceptive Advisors LLC boosted its position in Spyre Therapeutics by 23.3% during the first quarter. Perceptive Advisors LLC now owns 3,783,225 shares of the company’s stock valued at $190,826,000 after purchasing an additional 714,000 shares during the last quarter. Institutional investors and hedge funds own 80.39% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on SYRE. Raymond James Financial began coverage on Spyre Therapeutics in a research note on Monday, April 13th. They issued a “strong-buy” rating and a $80.00 price objective on the stock. Wall Street Zen upgraded shares of Spyre Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday. Wolfe Research downgraded shares of Spyre Therapeutics from an “outperform” rating to a “peer perform” rating in a report on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Spyre Therapeutics from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Finally, Mizuho boosted their target price on shares of Spyre Therapeutics from $84.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Spyre Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $110.15.

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.