Spyre Therapeutics (NASDAQ:SYRE) CEO Sells $1,432,650.00 in Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CEO Cameron Turtle sold 15,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $95.51, for a total value of $1,432,650.00. Following the completion of the sale, the chief executive officer directly owned 567,540 shares of the company’s stock, valued at $54,205,745.40. The trade was a 2.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, July 1st, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The shares were sold at an average price of $87.69, for a total value of $1,315,350.00.
• On Monday, June 1st, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The shares were sold at an average price of $70.43, for a total value of $1,056,450.00.

Spyre Therapeutics Price Performance

NASDAQ SYRE traded down $0.59 during trading on Wednesday, hitting $104.35. The company’s stock had a trading volume of 1,037,381 shares, compared to its average volume of 1,066,070. Spyre Therapeutics, Inc. has a fifty-two week low of $14.51 and a fifty-two week high of $108.14. The company has a market cap of $9.18 billion, a PE ratio of -53.51 and a beta of 3.03. The business’s 50 day simple moving average is $89.91 and its 200-day simple moving average is $64.66.

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

Hedge Funds Weigh In On Spyre Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Capital International Investors boosted its position in Spyre Therapeutics by 46.0% in the 4th quarter. Capital International Investors now owns 3,492,541 shares of the company’s stock worth $114,416,000 after purchasing an additional 1,100,000 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of 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. Seven Grand Managers LLC acquired a new stake in Spyre Therapeutics during the fourth quarter valued at $3,276,000. UBS Group AG increased its holdings in Spyre Therapeutics by 76.5% in the fourth quarter. UBS Group AG now owns 680,566 shares of the company’s stock valued at $22,295,000 after buying an additional 294,977 shares in the last quarter. Finally, PSP Research LLC acquired a new position in shares of Spyre Therapeutics in the fourth quarter worth about $519,000. Institutional investors and hedge funds own 80.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on SYRE. Wall Street Zen downgraded shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Deutsche Bank Aktiengesellschaft raised their target price on Spyre Therapeutics from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Stifel Nicolaus boosted their price target on Spyre Therapeutics from $92.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Jefferies Financial Group raised their price objective on Spyre Therapeutics from $47.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Finally, BTIG Research upped their target price on Spyre Therapeutics from $98.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $110.15.

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.