Spyre Therapeutics (NASDAQ:SYRE) CEO Sells $632,850.00 in Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CEO Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $42.19, for a total transaction of $632,850.00. Following the transaction, the chief executive officer directly owned 642,540 shares in the company, valued at $27,108,762.60. This represents a 2.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, February 2nd, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The stock was sold at an average price of $32.80, for a total value of $492,000.00.
• On Friday, January 2nd, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The stock was sold at an average price of $30.68, for a total transaction of $460,200.00.

Spyre Therapeutics Trading Down 5.7%

Shares of SYRE stock traded down $2.42 during trading hours on Tuesday, reaching $40.07. 921,701 shares of the stock were exchanged, compared to its average volume of 747,590. The company’s 50-day moving average price is $34.73 and its 200-day moving average price is $26.74. Spyre Therapeutics, Inc. has a 12-month low of $10.91 and a 12-month high of $45.76. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of -19.26 and a beta of 3.09.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.04). On average, sell-side analysts expect that Spyre Therapeutics, Inc. will post -4.46 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Wall Street Zen cut Spyre Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Leerink Partners upgraded Spyre Therapeutics to a “strong-buy” rating in a report on Thursday, February 19th. Wells Fargo & Company raised their price target on shares of Spyre Therapeutics from $40.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. JonesTrading raised shares of Spyre Therapeutics from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Monday, December 1st. Finally, Mizuho upgraded Spyre Therapeutics to a “strong-buy” rating in a research report on Thursday, December 18th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $53.44.

Institutional Trading of Spyre Therapeutics

Institutional investors have recently modified their holdings of the business. Invesco Ltd. raised its stake in Spyre Therapeutics by 197.7% during the fourth quarter. Invesco Ltd. now owns 150,934 shares of the company’s stock valued at $4,945,000 after buying an additional 100,232 shares in the last quarter. VARCOV Co. acquired a new position in Spyre Therapeutics during the 4th quarter worth $262,000. Virtus Investment Advisers LLC grew its position in Spyre Therapeutics by 23.2% in the 4th quarter. Virtus Investment Advisers LLC now owns 7,913 shares of the company’s stock valued at $259,000 after buying an additional 1,488 shares in the last quarter. Susquehanna Portfolio Strategies LLC lifted its holdings in Spyre Therapeutics by 144.3% in the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 53,101 shares of the company’s stock valued at $1,740,000 after acquiring an additional 31,362 shares during the last quarter. Finally, Tudor Investment Corp ET AL bought a new stake in shares of Spyre Therapeutics during the 4th quarter worth $332,000. 80.39% of the stock is currently owned by hedge funds and other institutional investors.

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.