Insider Selling: Spyre Therapeutics (NASDAQ:SYRE) CEO Sells 15,000 Shares of Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CEO Cameron Turtle sold 15,000 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $71.37, for a total transaction of $1,070,550.00. Following the sale, the chief executive officer directly owned 612,540 shares of the company’s stock, valued at approximately $43,716,979.80. The trade was a 2.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, April 1st, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The shares were sold at an average price of $49.33, for a total transaction of $739,950.00.
• On Monday, March 2nd, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The stock was sold at an average price of $42.19, for a total transaction of $632,850.00.
• On Monday, February 2nd, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The shares were sold at an average price of $32.80, for a total transaction of $492,000.00.

Spyre Therapeutics Price Performance

NASDAQ SYRE traded down $5.03 on Friday, hitting $69.42. The stock had a trading volume of 1,463,178 shares, compared to its average volume of 1,426,069. The business’s fifty day moving average price is $51.75 and its 200 day moving average price is $37.36. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of -33.38 and a beta of 3.12. Spyre Therapeutics, Inc. has a 52-week low of $12.28 and a 52-week high of $76.00.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings data on Thursday, February 19th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.04). As a group, sell-side analysts anticipate that Spyre Therapeutics, Inc. will post -2.8 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SYRE shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Spyre Therapeutics from $55.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Wells Fargo & Company raised their price target on shares of Spyre Therapeutics from $50.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, April 14th. Jefferies Financial Group lifted their price objective on shares of Spyre Therapeutics from $47.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Wall Street Zen downgraded Spyre Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Finally, Leerink Partners raised their target price on Spyre Therapeutics from $49.00 to $106.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $85.08.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Candriam S.C.A. boosted its holdings in Spyre Therapeutics by 43.4% in the first quarter. Candriam S.C.A. now owns 610,282 shares of the company’s stock valued at $30,783,000 after purchasing an additional 184,748 shares during the last quarter. Summit Securities Group LLC purchased a new position in Spyre Therapeutics during the first quarter valued at approximately $28,000. Strs Ohio purchased a new stake in Spyre Therapeutics in the 1st quarter worth approximately $227,000. Union Bancaire Privee UBP SA purchased a new position in shares of Spyre Therapeutics during the 1st quarter valued at approximately $196,000. Finally, High Net Worth Advisory Group LLC purchased a new stake in Spyre Therapeutics during the first quarter worth $303,000. 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.