Spyre Therapeutics (NASDAQ:SYRE) Stock: Insider Cameron Turtle Sells 15,000 Shares

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CEO Cameron Turtle sold 15,000 shares of the company’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $92.01, for a total transaction of $1,380,150.00. Following the completion of the sale, the chief executive officer directly owned 537,540 shares in the company, valued at approximately $49,459,055.40. The trade was a 2.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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 Tuesday, September 1st, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The stock was sold at an average price of $87.29, for a total transaction of $1,309,350.00.
• On Monday, August 3rd, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The stock was sold at an average price of $95.51, for a total transaction of $1,432,650.00.

Spyre Therapeutics Price Performance

Shares of NASDAQ:SYRE traded up $3.26 during trading on Friday, reaching $93.19. The stock had a trading volume of 1,235,015 shares, compared to its average volume of 1,229,962. Spyre Therapeutics, Inc. has a 52 week low of $15.86 and a 52 week high of $110.18. The business’s 50-day moving average price is $95.71 and its 200 day moving average price is $81.43. The stock has a market capitalization of $8.20 billion, a PE ratio of -47.79 and a beta of 3.10.

Spyre Therapeutics (NASDAQ:SYRE) last announced its earnings results on Tuesday, August 4th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.40. Analysts forecast that Spyre Therapeutics, Inc. will post -2.71 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on SYRE shares. BTIG Research reissued a “buy” rating and issued a $121.00 price target on shares of Spyre Therapeutics in a report on Thursday. Mizuho upped their price objective on Spyre Therapeutics from $84.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Wolfe Research cut Spyre Therapeutics from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, July 28th. JPMorgan Chase & Co. assumed coverage on Spyre Therapeutics in a research report on Thursday. They set an “overweight” rating and a $110.00 target price for the company. Finally, Wedbush reaffirmed an “outperform” rating and set a $123.00 price target on shares of Spyre Therapeutics in a research note on Wednesday, September 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Spyre Therapeutics has an average rating of “Moderate Buy” and an average target price of $109.71.

Institutional Trading of Spyre Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Engineers Gate Manager LP bought a new stake in shares of Spyre Therapeutics during the 2nd quarter valued at $3,416,000. Integrated Wealth Concepts LLC bought a new position in shares of Spyre Therapeutics in the 2nd quarter worth $31,000. Maven Securities LTD acquired a new stake in shares of Spyre Therapeutics during the second quarter worth $3,551,000. Squarepoint Ops LLC acquired a new stake in shares of Spyre Therapeutics during the second quarter worth $12,394,000. Finally, Arizona State Retirement System increased its holdings in Spyre Therapeutics by 15.1% in the second quarter. Arizona State Retirement System now owns 15,471 shares of the company’s stock valued at $1,374,000 after purchasing an additional 2,033 shares during the last quarter. Institutional investors own 80.39% of the company’s stock.

About Spyre Therapeutics

Spyre Therapeutics, Inc is a clinical-stage biotechnology company focused on developing antibody therapeutics for inflammatory bowel disease (IBD), including ulcerative colitis and Crohn’s disease. The company is working to create next-generation biologic medicines intended to address significant treatment needs in these chronic gastrointestinal conditions.

Spyre’s pipeline includes programs directed at validated inflammatory pathways, including interleukin-23 (IL-23) and tumor necrosis factor-like ligand 1A (TL1A).