Spyre Therapeutics (NASDAQ:SYRE) CFO Sells $658,050.00 in Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CFO Scott Burrows sold 7,500 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $87.74, for a total value of $658,050.00. Following the transaction, the chief financial officer directly owned 97,994 shares of the company’s stock, valued at $8,597,993.56. This trade represents a 7.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Spyre Therapeutics Price Performance

Shares of SYRE stock opened at $86.63 on Friday. The business has a fifty day simple moving average of $78.04 and a 200 day simple moving average of $53.78. The company has a market cap of $7.62 billion, a P/E ratio of -41.65 and a beta of 3.02. Spyre Therapeutics, Inc. has a twelve month low of $14.51 and a twelve month high of $102.06.

Spyre Therapeutics (NASDAQ:SYRE) last released 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). As a group, equities research analysts anticipate that Spyre Therapeutics, Inc. will post -2.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. JonesTrading lifted their price target on shares of Spyre Therapeutics from $64.00 to $95.00 and gave the company a “buy” rating in a report on Friday, April 17th. BTIG Research increased their price objective on shares of Spyre Therapeutics from $98.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Leerink Partners raised their target price on shares of Spyre Therapeutics from $49.00 to $106.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Spyre Therapeutics from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Finally, Wedbush reiterated an “outperform” rating and issued a $100.00 price target on shares of Spyre Therapeutics in a research note on Tuesday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Spyre Therapeutics currently has an average rating of “Buy” and a consensus price target of $95.83.

Institutional Investors Weigh In On Spyre Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Summit Securities Group LLC bought a new position in shares of Spyre Therapeutics during the first quarter valued at $28,000. KBC Group NV acquired a new stake in Spyre Therapeutics in the first quarter valued at $69,000. Russell Investments Group Ltd. increased its holdings in Spyre Therapeutics by 2,881.7% in the third quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company’s stock valued at $71,000 after purchasing an additional 4,092 shares during the period. Persistent Asset Partners Ltd acquired a new stake in Spyre Therapeutics in the fourth quarter valued at $74,000. Finally, Tower Research Capital LLC TRC raised its position in Spyre Therapeutics by 182.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,769 shares of the company’s stock worth $86,000 after purchasing an additional 3,725 shares during the last quarter. 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.