Spyre Therapeutics (NASDAQ:SYRE) CFO Sells 18,232 Shares of Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CFO Scott Burrows sold 18,232 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $89.35, for a total transaction of $1,629,029.20. Following the completion of the sale, the chief financial officer owned 79,762 shares of the company’s stock, valued at approximately $7,126,734.70. This represents a 18.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Spyre Therapeutics Stock Up 0.2%

Spyre Therapeutics stock traded up $0.20 during midday trading on Thursday, hitting $87.25. 1,054,184 shares of the stock were exchanged, compared to its average volume of 1,063,422. Spyre Therapeutics, Inc. has a 52-week low of $14.51 and a 52-week high of $110.18. The stock has a market capitalization of $7.67 billion, a price-to-earnings ratio of -44.74 and a beta of 2.99. The business’s 50-day moving average price is $98.03 and its 200-day moving average price is $74.53.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.40. On average, sell-side analysts predict that Spyre Therapeutics, Inc. will post -2.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SYRE shares. Wedbush decreased their price target on Spyre Therapeutics from $130.00 to $123.00 and set an “outperform” rating for the company in a research report on Wednesday, August 26th. Guggenheim boosted their price objective on Spyre Therapeutics from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Spyre Therapeutics in a research note on Tuesday. Deutsche Bank Aktiengesellschaft decreased their target price on Spyre Therapeutics from $135.00 to $127.00 and set a “buy” rating for the company in a research report on Wednesday, August 26th. Finally, Mizuho lifted their target price on Spyre Therapeutics from $84.00 to $120.00 and gave the stock an “outperform” rating in a research note 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 assigned a Sell rating to the stock. According to data from MarketBeat, Spyre Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $109.69.

Institutional Investors Weigh In On Spyre Therapeutics

Large investors have recently modified their holdings of the stock. Summit Securities Group LLC bought a new stake in shares of Spyre Therapeutics in the 1st quarter worth approximately $28,000. GAMMA Investing LLC grew its holdings in Spyre Therapeutics by 26.8% during the second quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock valued at $59,000 after purchasing an additional 140 shares during the period. KBC Group NV bought a new position in Spyre Therapeutics during the first quarter valued at $69,000. Russell Investments Group Ltd. increased its position in Spyre Therapeutics by 2,881.7% in the third quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company’s stock worth $71,000 after buying an additional 4,092 shares during the last quarter. Finally, Persistent Asset Partners Ltd purchased a new stake in Spyre Therapeutics in the fourth quarter worth $74,000. Hedge funds and other institutional investors own 80.39% of the company’s stock.

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.