Insider Selling: Spyre Therapeutics (NASDAQ:SYRE) Insider Sells $624,975.00 in Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) insider Sheldon Sloan sold 8,333 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $75.00, for a total transaction of $624,975.00. Following the sale, the insider directly owned 8,333 shares in the company, valued at approximately $624,975. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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.
• On Wednesday, April 1st, Sheldon Sloan sold 7,958 shares of Spyre Therapeutics stock. The shares were sold at an average price of $50.00, for a total value of $397,900.00.

Spyre Therapeutics Stock Down 6.2%

NASDAQ SYRE opened at $73.65 on Friday. The company has a market capitalization of $6.40 billion, a price-to-earnings ratio of -35.41 and a beta of 3.05. Spyre Therapeutics, Inc. has a twelve month low of $13.93 and a twelve month high of $79.54. The stock has a fifty day simple moving average of $66.62 and a 200 day simple moving average of $45.92.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.08). Research analysts expect that Spyre Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. RTW Investments LP boosted its holdings in Spyre Therapeutics by 15.2% in the 4th quarter. RTW Investments LP now owns 4,171,996 shares of the company’s stock valued at $136,675,000 after purchasing an additional 550,000 shares during the period. Vanguard Group Inc. boosted its holdings in Spyre Therapeutics by 32.3% in the 4th quarter. Vanguard Group Inc. now owns 4,035,074 shares of the company’s stock valued at $132,189,000 after purchasing an additional 984,344 shares during the period. Perceptive Advisors LLC boosted its holdings in Spyre Therapeutics by 23.3% in the 1st quarter. Perceptive Advisors LLC now owns 3,783,225 shares of the company’s stock valued at $190,826,000 after purchasing an additional 714,000 shares during the period. Capital International Investors boosted its holdings in Spyre Therapeutics by 46.0% in the 4th quarter. Capital International Investors now owns 3,492,541 shares of the company’s stock valued at $114,416,000 after purchasing an additional 1,100,000 shares during the period. Finally, Commodore Capital LP boosted its holdings in Spyre Therapeutics by 20.1% in the 4th quarter. Commodore Capital LP now owns 2,388,245 shares of the company’s stock valued at $78,239,000 after purchasing an additional 400,161 shares during the period. 80.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SYRE shares. Raymond James Financial started 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 on the stock. Wells Fargo & Company upped their target price on shares of Spyre Therapeutics from $50.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, April 14th. JonesTrading upped their target price on shares of Spyre Therapeutics from $64.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, April 17th. BTIG Research upped their target price on shares of Spyre Therapeutics from $70.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Finally, Wall Street Zen lowered shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $91.33.

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.