Scott Burrows Sells 7,500 Shares of Spyre Therapeutics (NASDAQ:SYRE) Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CFO Scott Burrows sold 7,500 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $95.57, for a total transaction of $716,775.00. Following the completion of the sale, the chief financial officer directly owned 97,994 shares in the company, valued at approximately $9,365,286.58. This trade represents a 7.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Spyre Therapeutics Stock Down 0.9%

Spyre Therapeutics stock opened at $103.42 on Friday. The firm has a 50-day moving average price of $90.54 and a two-hundred day moving average price of $65.15. The firm has a market capitalization of $9.09 billion, a price-to-earnings ratio of -53.04 and a beta of 3.03. Spyre Therapeutics, Inc. has a 52-week low of $14.51 and a 52-week high of $108.14.

Spyre Therapeutics (NASDAQ:SYRE) last posted its earnings results on Tuesday, August 4th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.40. Research analysts expect that Spyre Therapeutics, Inc. will post -2.86 earnings per share for the current year.

Key Spyre Therapeutics News

Here are the key news stories impacting Spyre Therapeutics this week:

• Positive Sentiment: Second-quarter earnings beat expectations: Spyre reported a loss of $0.36 per share, substantially narrower than the consensus estimate of $0.76. The result suggests better-than-expected expense management and improved investor sentiment. SYRE Q2 earnings article
• Positive Sentiment: Pipeline momentum remains the key catalyst: The company reported positive progress in its Phase 2 programs and pointed to upcoming clinical data readouts. For this clinical-stage biotechnology company, successful trial updates could have a greater effect on valuation than near-term earnings. Spyre second-quarter corporate update
• Positive Sentiment: Analysts raised their targets: Wedbush increased its price target from $100 to $130 with an “Outperform” rating, while Guggenheim lifted its target from $115 to $130 and maintained a “Buy” rating. These revisions signal expectations for additional upside from Spyre’s pipeline and upcoming milestones. Analyst price-target updates
• Neutral Sentiment: Shares reached a new one-year high: The stock’s strength following the earnings release reflects growing optimism, although its elevated valuation and high beta indicate that future clinical results could produce significant volatility. Spyre reaches one-year high
• Negative Sentiment: Executives reported stock sales: CEO Cameron Turtle sold 15,000 shares and CFO Scott Burrows sold 7,500 shares at prices near $95.50. Both transactions were made under pre-arranged Rule 10b5-1 plans, reducing the negative signal, and both executives retained substantial positions. Spyre insider transactions

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SYRE shares. Citigroup raised their price target on Spyre Therapeutics from $64.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. 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 report on Monday, June 15th. JonesTrading boosted their target price on Spyre Therapeutics from $64.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Wall Street Zen lowered Spyre Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Finally, Wedbush lifted their price target on Spyre Therapeutics from $100.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Spyre Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $110.15.

Hedge Funds Weigh In On Spyre Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SYRE. Perceptive Advisors LLC lifted its stake in shares of Spyre Therapeutics by 149.6% in the 4th 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 during the last quarter. Janus Henderson Group PLC raised its holdings in 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 in the last quarter. RA Capital Management L.P. acquired a new stake in shares of Spyre Therapeutics in the fourth quarter worth about $53,124,000. Remedium Capital Partners LLC bought a new stake in shares of Spyre Therapeutics during the 4th quarter worth about $47,706,000. Finally, TCG Crossover Management LLC bought a new stake in shares of Spyre Therapeutics during the 3rd quarter worth about $18,446,000. Institutional investors own 80.39% of the company’s stock.

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.