Scott Burrows Sells 2,500 Shares of Spyre Therapeutics (NASDAQ:SYRE) Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CFO Scott Burrows sold 2,500 shares of Spyre Therapeutics stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $40.65, for a total value of $101,625.00. Following the completion of the sale, the chief financial officer directly owned 97,994 shares of the company’s stock, valued at approximately $3,983,456.10. This represents a 2.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Spyre Therapeutics Stock Down 5.7%

Shares of SYRE traded down $2.42 during mid-day trading on Tuesday, hitting $40.07. The company had a trading volume of 921,701 shares, compared to its average volume of 747,590. Spyre Therapeutics, Inc. has a 1-year low of $10.91 and a 1-year high of $45.76. The business’s 50-day simple moving average is $34.73 and its 200-day simple moving average is $26.74. The stock has a market cap of $3.15 billion, a PE ratio of -19.26 and a beta of 3.09.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.70) earnings per share (EPS) 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 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SYRE. CWM LLC boosted its position in Spyre Therapeutics by 357.8% in the 2nd quarter. CWM LLC now owns 1,712 shares of the company’s stock valued at $26,000 after buying an additional 1,338 shares during the last quarter. Persistent Asset Partners Ltd acquired a new position in shares of Spyre Therapeutics during the fourth quarter valued at $74,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Spyre Therapeutics by 61.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,770 shares of the company’s stock valued at $124,000 after acquiring an additional 1,435 shares during the last quarter. AlphaQuest LLC increased its position in Spyre Therapeutics by 30.8% in the second quarter. AlphaQuest LLC now owns 4,174 shares of the company’s stock worth $62,000 after purchasing an additional 983 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in Spyre Therapeutics by 2,881.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company’s stock valued at $71,000 after purchasing an additional 4,092 shares during the period. 80.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Leerink Partners raised shares of Spyre Therapeutics to a “strong-buy” rating in a report on Thursday, February 19th. JonesTrading upgraded Spyre Therapeutics from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Monday, December 1st. Wall Street Zen lowered Spyre Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Mizuho raised Spyre Therapeutics to a “strong-buy” rating in a report on Thursday, December 18th. Finally, Wells Fargo & Company lifted their price objective 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. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $53.44.

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.