Insider Selling: Spyre Therapeutics (NASDAQ:SYRE) CFO Sells $1,306,950.00 in Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CFO Scott Burrows sold 15,000 shares of Spyre Therapeutics 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 of the company’s stock, valued at $8,538,217.22. The trade was a 13.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Spyre Therapeutics Stock Performance

SYRE stock traded down $0.78 during mid-day trading on Friday, reaching $87.89. 4,424,025 shares of the stock traded hands, compared to its average volume of 1,550,860. Spyre Therapeutics, Inc. has a one year low of $14.00 and a one year high of $102.06. The stock has a market capitalization of $7.63 billion, a PE ratio of -42.25 and a beta of 3.05. The business has a 50-day moving average price of $76.42 and a two-hundred day moving average price of $51.89.

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 the consensus estimate of ($0.66) by ($0.08). On average, equities analysts expect that Spyre Therapeutics, Inc. will post -2.86 earnings per share for the current fiscal year.

Institutional Trading of Spyre Therapeutics

Large investors have recently modified their holdings of the company. Perceptive Advisors LLC boosted its position in Spyre Therapeutics by 149.6% during the fourth quarter. Perceptive Advisors LLC now owns 3,069,225 shares of the company’s stock valued at $100,548,000 after purchasing an additional 1,839,780 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Spyre Therapeutics by 13,969.3% during the fourth quarter. Janus Henderson Group PLC now owns 1,829,009 shares of the company’s stock valued at $59,918,000 after buying an additional 1,816,009 shares during the last quarter. RA Capital Management L.P. purchased a new stake in shares of Spyre Therapeutics during the fourth quarter valued at about $53,124,000. Remedium Capital Partners LLC bought a new stake in shares of Spyre Therapeutics in the 4th quarter valued at about $47,706,000. Finally, TCG Crossover Management LLC bought a new stake in shares of Spyre Therapeutics in the 3rd quarter valued at about $18,446,000. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Leerink Partners increased their price target on Spyre Therapeutics from $49.00 to $106.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Wells Fargo & Company boosted their price objective on Spyre Therapeutics from $50.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, April 14th. BTIG Research upped their price objective on Spyre Therapeutics from $98.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Wall Street Zen downgraded Spyre Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Finally, Robert W. Baird boosted their target price on shares of Spyre Therapeutics from $65.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, April 14th. Two 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $95.83.

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.