Sheldon Sloan Sells 8,334 Shares of Spyre Therapeutics (NASDAQ:SYRE) Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) insider Sheldon Sloan sold 8,334 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $87.70, for a total transaction of $730,891.80. Following the completion of the transaction, the insider owned 8,334 shares of the company’s stock, valued at $730,891.80. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Sheldon Sloan also recently made the following trade(s):

• On Wednesday, June 3rd, Sheldon Sloan sold 8,333 shares of Spyre Therapeutics stock. The stock was sold at an average price of $75.00, for a total transaction of $624,975.00.
• On Friday, May 1st, Sheldon Sloan sold 78,333 shares of Spyre Therapeutics stock. The stock was sold at an average price of $71.50, for a total transaction of $5,600,809.50.

Spyre Therapeutics Stock Performance

NASDAQ SYRE opened at $86.63 on Friday. The firm has a market capitalization of $7.62 billion, a price-to-earnings ratio of -41.65 and a beta of 3.02. The firm’s 50 day simple moving average is $78.04 and its 200 day simple moving average is $53.78. Spyre Therapeutics, Inc. has a 1 year low of $14.51 and a 1 year high of $102.06.

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

Analyst Ratings Changes

SYRE has been the subject of several recent analyst reports. Jefferies Financial Group upped their price objective on Spyre Therapeutics from $47.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Wall Street Zen cut Spyre Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Stifel Nicolaus boosted their target price on Spyre Therapeutics from $92.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Raymond James Financial assumed coverage on shares of Spyre Therapeutics in a report on Monday, April 13th. They issued a “strong-buy” rating and a $80.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Spyre Therapeutics from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $95.83.

Institutional Investors Weigh In On Spyre Therapeutics

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