Scott Burrows Sells 15,000 Shares of Spyre Therapeutics (NASDAQ:SYRE) Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CFO Scott Burrows sold 15,000 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $87.13, for a total transaction of $1,306,950.00. Following the transaction, the chief financial officer directly owned 97,994 shares in the company, valued at approximately $8,538,217.22. This represents a 13.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Spyre Therapeutics Trading Down 0.9%

NASDAQ:SYRE opened at $87.89 on Friday. Spyre Therapeutics, Inc. has a 12 month low of $14.00 and a 12 month high of $102.06. The stock has a market capitalization of $7.63 billion, a price-to-earnings ratio of -42.25 and a beta of 3.05. The firm has a fifty day simple moving average of $76.42 and a two-hundred day simple moving average of $51.89.

Spyre Therapeutics (NASDAQ:SYRE) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.08). Equities analysts predict that Spyre Therapeutics, Inc. will post -2.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SYRE. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Spyre Therapeutics in a research note on Thursday, June 4th. Robert W. Baird raised their price objective on Spyre Therapeutics from $65.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, April 14th. Citigroup boosted their price objective on Spyre Therapeutics from $64.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Wall Street Zen lowered Spyre Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Finally, Wells Fargo & Company lifted their price target on shares of Spyre Therapeutics from $50.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday, April 14th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $95.83.

Hedge Funds Weigh In On Spyre Therapeutics

Several large investors have recently added to or reduced their stakes in SYRE. Summit Securities Group LLC bought a new stake in Spyre Therapeutics during the 1st quarter worth approximately $28,000. KBC Group NV purchased a new stake in shares of Spyre Therapeutics in the first quarter worth approximately $69,000. Persistent Asset Partners Ltd bought a new position in shares of Spyre Therapeutics in the fourth quarter valued at approximately $74,000. ABS Direct Equity Fund LLC bought a new position in shares of Spyre Therapeutics in the first quarter valued at approximately $141,000. Finally, Royal Bank of Canada boosted its position in shares of Spyre Therapeutics by 63.5% during the first quarter. Royal Bank of Canada now owns 3,250 shares of the company’s stock valued at $164,000 after buying an additional 1,262 shares during the last quarter. 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.