Insider Selling: Spyre Therapeutics (NASDAQ:SYRE) CEO Sells $460,200.00 in Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CEO Cameron Turtle sold 15,000 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $30.68, for a total transaction of $460,200.00. Following the completion of the sale, the chief executive officer directly owned 671,907 shares of the company’s stock, valued at $20,614,106.76. This represents a 2.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, December 1st, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The stock was sold at an average price of $29.02, for a total transaction of $435,300.00.
• On Monday, November 3rd, Cameron Turtle sold 45,000 shares of Spyre Therapeutics stock. The shares were sold at an average price of $23.33, for a total transaction of $1,049,850.00.

Spyre Therapeutics Trading Down 2.9%

Shares of SYRE stock opened at $30.14 on Friday. The stock has a market cap of $2.34 billion, a P/E ratio of -13.76 and a beta of 3.17. Spyre Therapeutics, Inc. has a 1 year low of $10.91 and a 1 year high of $35.31. The stock has a 50 day simple moving average of $29.25 and a 200 day simple moving average of $21.45.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.53. Analysts forecast that Spyre Therapeutics, Inc. will post -4.46 EPS for the current year.

Hedge Funds Weigh In On Spyre Therapeutics

A number of institutional investors have recently added to or reduced their stakes in SYRE. Affinity Asset Advisors LLC grew its holdings in shares of Spyre Therapeutics by 26.0% during the second quarter. Affinity Asset Advisors LLC now owns 606,678 shares of the company’s stock worth $9,082,000 after purchasing an additional 125,000 shares during the last quarter. Franklin Resources Inc. raised its holdings in Spyre Therapeutics by 4.6% in the 2nd quarter. Franklin Resources Inc. now owns 795,275 shares of the company’s stock valued at $11,905,000 after buying an additional 34,647 shares during the last quarter. Intech Investment Management LLC boosted its position in Spyre Therapeutics by 22.1% during the 2nd quarter. Intech Investment Management LLC now owns 24,945 shares of the company’s stock worth $373,000 after buying an additional 4,517 shares during the period. Emerald Advisers LLC grew its holdings in Spyre Therapeutics by 3.3% during the 2nd quarter. Emerald Advisers LLC now owns 565,863 shares of the company’s stock worth $8,471,000 after acquiring an additional 18,036 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Spyre Therapeutics by 15.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,227,232 shares of the company’s stock valued at $18,373,000 after acquiring an additional 167,669 shares during the period. 80.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SYRE shares. Jones Trading upgraded shares of Spyre Therapeutics from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Monday, December 1st. Mizuho raised shares of Spyre Therapeutics to a “strong-buy” rating in a report on Thursday, December 18th. BTIG Research reissued a “buy” rating and issued a $70.00 price objective on shares of Spyre Therapeutics in a research note on Tuesday, September 16th. Citigroup began coverage on shares of Spyre Therapeutics in a research report on Wednesday, December 17th. They set a “buy” rating and a $64.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft started coverage on Spyre Therapeutics in a research note on Friday, September 26th. They set a “buy” rating and a $43.00 target price for the company. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Spyre Therapeutics has a consensus rating of “Buy” and a consensus target price of $53.88.

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.