Spyre Therapeutics (NASDAQ:SYRE) CFO Scott Burrows Sells 7,500 Shares of Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CFO Scott Burrows sold 7,500 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $71.06, for a total transaction of $532,950.00. Following the completion of the sale, the chief financial officer owned 97,994 shares of the company’s stock, valued at $6,963,453.64. This trade represents a 7.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Spyre Therapeutics Stock Up 6.3%

Shares of NASDAQ SYRE opened at $73.52 on Thursday. Spyre Therapeutics, Inc. has a 52 week low of $13.93 and a 52 week high of $78.80. The firm has a 50-day moving average price of $65.34 and a 200 day moving average price of $45.34. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of -35.35 and a beta of 3.05.

Spyre Therapeutics (NASDAQ:SYRE) last announced its earnings results on Tuesday, May 5th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.08). Equities research analysts expect that Spyre Therapeutics, Inc. will post -2.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wall Street Zen lowered shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. 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 target price for the company. Leerink Partners raised their price target on shares of Spyre Therapeutics from $49.00 to $106.00 and gave the company an “outperform” rating in a report on Monday, April 13th. Wells Fargo & Company raised their price objective on Spyre Therapeutics from $50.00 to $90.00 and gave the company an “overweight” rating in a research note on Tuesday, April 14th. Finally, Citigroup upped their price objective on Spyre Therapeutics from $64.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $91.33.

Institutional Trading of Spyre Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. RTW Investments LP raised its position in shares of Spyre Therapeutics by 15.2% during the 4th quarter. RTW Investments LP now owns 4,171,996 shares of the company’s stock worth $136,675,000 after buying an additional 550,000 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Spyre Therapeutics by 32.3% in the 4th 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 last quarter. Perceptive Advisors LLC raised its holdings in Spyre Therapeutics by 23.3% during the 1st quarter. Perceptive Advisors LLC now owns 3,783,225 shares of the company’s stock worth $190,826,000 after buying an additional 714,000 shares during the period. Capital International Investors raised its holdings in shares of Spyre Therapeutics by 46.0% during the fourth quarter. Capital International Investors now owns 3,492,541 shares of the company’s stock valued at $114,416,000 after acquiring an additional 1,100,000 shares during the period. 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 valued at $78,239,000 after purchasing an additional 400,161 shares during the period. Institutional investors own 80.39% of the company’s stock.

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.