Insider Selling: Spyre Therapeutics (NASDAQ:SYRE) CFO Sells $370,050.00 in Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CFO Scott Burrows sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $49.34, for a total transaction of $370,050.00. Following the sale, the chief financial officer directly owned 97,994 shares in the company, valued at $4,835,023.96. This trade represents a 7.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Spyre Therapeutics Stock Performance

Shares of SYRE stock opened at $47.58 on Monday. The company has a market capitalization of $3.74 billion, a PE ratio of -22.88 and a beta of 2.93. Spyre Therapeutics, Inc. has a 52-week low of $10.91 and a 52-week high of $51.06. The business’s fifty day moving average is $40.00 and its 200 day moving average is $31.16.

Spyre Therapeutics (NASDAQ:SYRE) last posted its earnings results on Thursday, February 26th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.04). On average, sell-side analysts forecast that Spyre Therapeutics, Inc. will post -4.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SYRE has been the topic of several research analyst reports. Stifel Nicolaus upped their price objective on shares of Spyre Therapeutics from $70.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Spyre Therapeutics in a research report on Monday, December 29th. BTIG Research reissued a “buy” rating and issued a $70.00 price target on shares of Spyre Therapeutics in a report on Tuesday, March 31st. Citigroup initiated 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 on the stock. Finally, Mizuho upgraded shares of Spyre Therapeutics to a “strong-buy” rating in a research report on Thursday, December 18th. Two 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. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $60.67.

Institutional Trading of Spyre Therapeutics

Several hedge funds have recently added to or reduced their stakes in SYRE. Persistent Asset Partners Ltd purchased a new stake in Spyre Therapeutics during the fourth quarter valued at about $74,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Spyre Therapeutics by 61.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,770 shares of the company’s stock worth $124,000 after buying an additional 1,435 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Spyre Therapeutics by 2,881.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company’s stock valued at $71,000 after acquiring an additional 4,092 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Spyre Therapeutics by 182.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,769 shares of the company’s stock valued at $86,000 after acquiring an additional 3,725 shares during the last quarter. Finally, Martingale Asset Management L P bought a new stake in shares of Spyre Therapeutics in the 4th quarter valued at about $227,000. 80.39% of the stock is owned by institutional investors.

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.