Spyre Therapeutics (NASDAQ:SYRE) CFO Sells $101,625.00 in Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CFO Scott Burrows sold 2,500 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $40.65, for a total value of $101,625.00. Following the sale, the chief financial officer owned 97,994 shares in the company, valued at approximately $3,983,456.10. The trade was a 2.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Spyre Therapeutics Stock Performance

Shares of SYRE opened at $40.59 on Friday. The firm has a market cap of $3.19 billion, a PE ratio of -19.51 and a beta of 3.09. Spyre Therapeutics, Inc. has a 52-week low of $10.91 and a 52-week high of $45.76. The business’s 50 day moving average price is $35.04 and its two-hundred day moving average price is $26.93.

Spyre Therapeutics (NASDAQ:SYRE) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.04). Research analysts predict that Spyre Therapeutics, Inc. will post -4.46 EPS for the current fiscal year.

Institutional Trading of Spyre Therapeutics

Several large investors have recently modified their holdings of SYRE. RTW Investments LP raised its position in Spyre Therapeutics by 15.2% during the 4th quarter. RTW Investments LP now owns 4,171,996 shares of the company’s stock valued at $136,675,000 after purchasing an additional 550,000 shares during the last quarter. Vanguard Group Inc. grew its holdings 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 worth $132,189,000 after acquiring an additional 984,344 shares during the period. Capital International Investors lifted its position in shares of Spyre Therapeutics by 46.0% during the 4th quarter. Capital International Investors now owns 3,492,541 shares of the company’s stock valued at $114,416,000 after buying an additional 1,100,000 shares in the last quarter. Perceptive Advisors LLC increased its holdings in 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 raised its stake 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 period. 80.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SYRE has been the subject of several research reports. JonesTrading raised shares of Spyre Therapeutics from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research report on Monday, December 1st. Wells Fargo & Company increased their target price on Spyre Therapeutics from $40.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, February 20th. Citigroup initiated coverage on Spyre Therapeutics in a research report on Wednesday, December 17th. They issued a “buy” rating and a $64.00 price target for the company. Mizuho upgraded Spyre Therapeutics to a “strong-buy” rating in a research note on Thursday, December 18th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Spyre Therapeutics in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $53.44.

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.