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

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CEO Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $87.69, for a total value of $1,315,350.00. Following the sale, the chief executive officer directly owned 582,540 shares in the company, valued at $51,082,932.60. The trade was a 2.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, June 1st, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The shares were sold at an average price of $70.43, for a total transaction of $1,056,450.00.
• On Friday, May 1st, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The shares were sold at an average price of $71.37, for a total value of $1,070,550.00.

Spyre Therapeutics Price Performance

Spyre Therapeutics stock opened at $86.63 on Friday. Spyre Therapeutics, Inc. has a one year low of $14.51 and a one year high of $102.06. The business has a 50 day simple moving average of $77.77 and a 200 day simple moving average of $53.55. The company has a market capitalization of $7.62 billion, a PE ratio of -41.65 and a beta of 3.02.

Spyre Therapeutics (NASDAQ:SYRE) last posted its earnings results on Tuesday, May 5th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.08). Equities analysts anticipate that Spyre Therapeutics, Inc. will post -2.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SYRE has been the topic of several recent research reports. JonesTrading raised their price target on Spyre Therapeutics from $64.00 to $95.00 and gave the company a “buy” rating in a report on Friday, April 17th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Spyre Therapeutics from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Jefferies Financial Group upped their price target on Spyre Therapeutics from $47.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Raymond James Financial assumed coverage on Spyre Therapeutics in a research note on Monday, April 13th. They set a “strong-buy” rating and a $80.00 price objective on the stock. Finally, BTIG Research raised their price objective on Spyre Therapeutics from $98.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Spyre Therapeutics has a consensus rating of “Buy” and a consensus target price of $95.83.

Institutional Trading of Spyre Therapeutics

Several large investors have recently made changes to their positions in SYRE. Seven Fleet Capital Management LP bought a new position in shares of Spyre Therapeutics in the 1st quarter valued at $993,000. Perceptive Advisors LLC increased its position in Spyre Therapeutics by 23.3% in the 1st quarter. Perceptive Advisors LLC now owns 3,783,225 shares of the company’s stock valued at $190,826,000 after acquiring an additional 714,000 shares during the period. Bank of America Corp DE lifted its holdings in Spyre Therapeutics by 192.6% during the 1st quarter. Bank of America Corp DE now owns 1,228,093 shares of the company’s stock worth $61,945,000 after buying an additional 808,366 shares during the period. Stempoint Capital LP increased its position in Spyre Therapeutics by 417.7% during the 1st quarter. Stempoint Capital LP now owns 167,606 shares of the company’s stock valued at $8,454,000 after purchasing an additional 135,229 shares during the period. Finally, ADAR1 Capital Management LLC increased its position in shares of Spyre Therapeutics by 893.6% during the first quarter. ADAR1 Capital Management LLC now owns 338,323 shares of the company’s stock worth $17,065,000 after buying an additional 304,272 shares during the period. Institutional investors and hedge funds 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.