Insider Selling: Spyre Therapeutics (NASDAQ:SYRE) CEO Sells 15,000 Shares of Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CEO Cameron Turtle sold 15,000 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $30.68, for a total value of $460,200.00. Following the sale, the chief executive officer owned 671,907 shares of the company’s stock, valued at approximately $20,614,106.76. The trade was a 2.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Cameron Turtle also recently made the following trade(s):

• On Monday, December 1st, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The shares were sold at an average price of $29.02, for a total value of $435,300.00.
• On Monday, November 3rd, Cameron Turtle sold 45,000 shares of Spyre Therapeutics stock. The shares were sold at an average price of $23.33, for a total value of $1,049,850.00.

Spyre Therapeutics Trading Up 1.2%

NASDAQ SYRE traded up $0.37 during trading hours on Tuesday, hitting $30.33. 752,260 shares of the company’s stock were exchanged, compared to its average volume of 756,648. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of -13.85 and a beta of 3.17. The stock has a 50-day simple moving average of $28.99 and a 200 day simple moving average of $21.32. Spyre Therapeutics, Inc. has a 1-year low of $10.91 and a 1-year high of $35.31.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings results on Tuesday, November 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.53. On average, sell-side analysts anticipate that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SYRE shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Spyre Therapeutics in a research note on Monday, December 29th. Wall Street Zen raised shares of Spyre Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Citigroup began coverage on Spyre Therapeutics in a research note on Wednesday, December 17th. They issued a “buy” rating and a $64.00 target price for the company. BTIG Research reaffirmed a “buy” rating and set a $70.00 price target on shares of Spyre Therapeutics in a research note on Tuesday, September 16th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Spyre Therapeutics in a report on Friday, September 26th. They issued a “buy” rating and a $43.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $53.88.

Institutional Investors Weigh In On Spyre Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. MetLife Investment Management LLC lifted its position in Spyre Therapeutics by 11.0% in the 1st quarter. MetLife Investment Management LLC now owns 23,733 shares of the company’s stock valued at $383,000 after acquiring an additional 2,351 shares in the last quarter. Corebridge Financial Inc. lifted its holdings in shares of Spyre Therapeutics by 13.8% in the first quarter. Corebridge Financial Inc. now owns 19,595 shares of the company’s stock valued at $316,000 after purchasing an additional 2,382 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Spyre Therapeutics by 18.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,018 shares of the company’s stock valued at $442,000 after buying an additional 4,277 shares during the last quarter. Woodline Partners LP boosted its position in shares of Spyre Therapeutics by 31.8% during the first quarter. Woodline Partners LP now owns 464,808 shares of the company’s stock valued at $7,500,000 after buying an additional 112,128 shares during the last quarter. Finally, CWM LLC grew its holdings in Spyre Therapeutics by 357.8% during the second quarter. CWM LLC now owns 1,712 shares of the company’s stock worth $26,000 after buying an additional 1,338 shares in the last quarter. 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.