Insider Selling: Spyre Therapeutics (NASDAQ:SYRE) CEO Sells $492,000.00 in Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CEO Cameron Turtle sold 15,000 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $32.80, for a total value of $492,000.00. Following the transaction, the chief executive officer owned 657,540 shares of the company’s stock, valued at $21,567,312. This represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, January 2nd, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The shares were sold at an average price of $30.68, for a total transaction of $460,200.00.
• On Monday, December 1st, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The stock was sold at an average price of $29.02, for a total transaction of $435,300.00.

Spyre Therapeutics Stock Up 6.6%

Shares of Spyre Therapeutics stock opened at $35.12 on Friday. Spyre Therapeutics, Inc. has a 12-month low of $10.91 and a 12-month high of $35.31. The stock has a market capitalization of $2.72 billion, a P/E ratio of -16.04 and a beta of 3.15. The company has a 50-day simple moving average of $32.68 and a 200 day simple moving average of $23.95.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.53. On average, equities analysts anticipate that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on SYRE. Citigroup started coverage on Spyre Therapeutics in a report on Wednesday, December 17th. They set a “buy” rating and a $64.00 price target for the company. Jones Trading upgraded Spyre Therapeutics from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Monday, December 1st. Mizuho raised Spyre Therapeutics to a “strong-buy” rating in a report on Thursday, December 18th. BTIG Research reiterated a “buy” rating and set a $70.00 price target on shares of Spyre Therapeutics in a research report on Friday, January 16th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Spyre Therapeutics in a report on Monday, December 29th. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $53.88.

Hedge Funds Weigh In On Spyre Therapeutics

Several large investors have recently made changes to their positions in SYRE. PSP Research LLC bought a new position in Spyre Therapeutics in the fourth quarter valued at about $519,000. Profund Advisors LLC lifted its position in Spyre Therapeutics by 55.7% during the 4th quarter. Profund Advisors LLC now owns 20,593 shares of the company’s stock valued at $675,000 after purchasing an additional 7,370 shares during the period. ProShare Advisors LLC boosted its stake in shares of Spyre Therapeutics by 49.7% in the 4th quarter. ProShare Advisors LLC now owns 15,989 shares of the company’s stock valued at $524,000 after purchasing an additional 5,311 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in shares of Spyre Therapeutics by 34.9% during the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 24,950 shares of the company’s stock worth $817,000 after buying an additional 6,450 shares during the period. Finally, F m Investments LLC raised its stake in shares of Spyre Therapeutics by 88.9% during the fourth quarter. F m Investments LLC now owns 103,718 shares of the company’s stock worth $3,398,000 after buying an additional 48,825 shares during the last quarter. Institutional investors and hedge funds 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.