Cameron Turtle Sells 15,000 Shares of Spyre Therapeutics (NASDAQ:SYRE) Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CEO Cameron Turtle sold 15,000 shares of the firm’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $49.33, for a total transaction of $739,950.00. Following the sale, the chief executive officer owned 627,540 shares in the company, valued at approximately $30,956,548.20. This trade represents a 2.33% decrease in their position. The transaction was disclosed in a filing with the SEC, 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 Monday, March 2nd, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The shares were sold at an average price of $42.19, for a total transaction of $632,850.00.
• On Monday, February 2nd, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The shares were sold at an average price of $32.80, for a total transaction of $492,000.00.

Spyre Therapeutics Stock Performance

Spyre Therapeutics stock opened at $51.20 on Wednesday. The firm’s fifty day moving average price is $40.69 and its 200-day moving average price is $31.66. The stock has a market cap of $4.02 billion, a P/E ratio of -24.62 and a beta of 2.93. Spyre Therapeutics, Inc. has a fifty-two week low of $10.91 and a fifty-two week high of $51.26.

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

Analyst Upgrades and Downgrades

SYRE has been the topic of several recent research reports. Wells Fargo & Company increased their target price on shares of Spyre Therapeutics from $40.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, February 20th. Stifel Nicolaus increased their target price on shares of Spyre Therapeutics from $70.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, March 18th. Leerink Partners raised shares of Spyre Therapeutics to a “strong-buy” rating in a report on Thursday, February 19th. BTIG Research reaffirmed a “buy” rating and set a $70.00 target price on shares of Spyre Therapeutics in a report on Tuesday, March 31st. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Spyre Therapeutics in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $62.63.

Institutional Investors Weigh In On Spyre Therapeutics

A number of large investors have recently added to or reduced their stakes in SYRE. Perceptive Advisors LLC grew its holdings in Spyre Therapeutics by 149.6% in the 4th quarter. Perceptive Advisors LLC now owns 3,069,225 shares of the company’s stock worth $100,548,000 after acquiring an additional 1,839,780 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Spyre Therapeutics by 13,969.3% during the 4th quarter. Janus Henderson Group PLC now owns 1,829,009 shares of the company’s stock valued at $59,918,000 after purchasing an additional 1,816,009 shares in the last quarter. RA Capital Management L.P. bought a new stake in shares of Spyre Therapeutics during the 4th quarter valued at about $53,124,000. Remedium Capital Partners LLC bought a new stake in shares of Spyre Therapeutics during the 4th quarter valued at about $47,706,000. Finally, TCG Crossover Management LLC bought a new stake in shares of Spyre Therapeutics during the 3rd quarter valued at 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.