Spyre Therapeutics (NASDAQ:SYRE) Insider Sheldon Sloan Sells 7,958 Shares of Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) insider Sheldon Sloan sold 7,958 shares of Spyre Therapeutics stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $50.00, for a total value of $397,900.00. Following the completion of the sale, the insider directly owned 7,958 shares of the company’s stock, valued at approximately $397,900. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Spyre Therapeutics Price Performance

Spyre Therapeutics stock remained flat at $47.58 during trading on Friday. The company had a trading volume of 438,025 shares, compared to its average volume of 829,300. The stock has a fifty day moving average price of $40.00 and a two-hundred day moving average price of $30.94. Spyre Therapeutics, Inc. has a 52-week low of $10.91 and a 52-week high of $51.06. The stock has a market capitalization of $3.74 billion, a PE ratio of -22.88 and a beta of 2.93.

Spyre Therapeutics (NASDAQ:SYRE) last issued 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). Equities research analysts forecast that Spyre Therapeutics, Inc. will post -4.46 EPS for the current fiscal year.

Analyst Ratings Changes

SYRE has been the subject of a number of recent analyst reports. Citigroup initiated coverage on shares of Spyre Therapeutics in a report on Wednesday, December 17th. They issued a “buy” rating and a $64.00 target price for the company. Mizuho raised shares of Spyre Therapeutics to a “strong-buy” rating in a research note on Thursday, December 18th. BTIG Research reiterated a “buy” rating and issued a $70.00 price target on shares of Spyre Therapeutics in a report on Tuesday. Stifel Nicolaus boosted their price objective on shares of Spyre Therapeutics from $70.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, March 18th. Finally, Wells Fargo & Company upped their price objective on Spyre Therapeutics from $40.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $60.67.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Optimize Financial Inc lifted its position in Spyre Therapeutics by 1.5% during the fourth quarter. Optimize Financial Inc now owns 25,331 shares of the company’s stock valued at $830,000 after buying an additional 364 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in Spyre Therapeutics by 0.5% during the third quarter. Mercer Global Advisors Inc. ADV now owns 106,664 shares of the company’s stock worth $1,788,000 after buying an additional 522 shares during the period. California State Teachers Retirement System increased its position in shares of Spyre Therapeutics by 1.8% in the second quarter. California State Teachers Retirement System now owns 33,201 shares of the company’s stock worth $497,000 after acquiring an additional 603 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Spyre Therapeutics by 4.5% in the 4th quarter. AQR Capital Management LLC now owns 17,820 shares of the company’s stock valued at $584,000 after acquiring an additional 773 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of Spyre Therapeutics by 1.1% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 110,456 shares of the company’s stock valued at $1,851,000 after acquiring an additional 1,172 shares during the period. Hedge funds and other institutional investors own 80.39% of the company’s stock.

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.