Scott Burrows Sells 7,500 Shares of Spyre Therapeutics (NASDAQ:SYRE) Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CFO Scott Burrows sold 7,500 shares of Spyre Therapeutics stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $87.74, for a total value of $658,050.00. Following the sale, the chief financial officer directly owned 97,994 shares of the company’s stock, valued at approximately $8,597,993.56. This trade represents a 7.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Spyre Therapeutics Stock Performance

NASDAQ:SYRE opened at $86.63 on Friday. Spyre Therapeutics, Inc. has a 1-year low of $14.51 and a 1-year high of $102.06. The firm has a market capitalization of $7.62 billion, a price-to-earnings ratio of -41.65 and a beta of 3.02. The business’s 50-day moving average price is $78.04 and its two-hundred day moving average price is $53.78.

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

Institutional Trading of Spyre Therapeutics

Large investors have recently bought and sold shares of the business. Summit Securities Group LLC bought a new stake in Spyre Therapeutics during the 1st quarter worth approximately $28,000. KBC Group NV bought a new position in Spyre Therapeutics in the first quarter valued at approximately $69,000. Persistent Asset Partners Ltd bought a new position in Spyre Therapeutics in the fourth quarter valued at approximately $74,000. ABS Direct Equity Fund LLC acquired a new position in shares of Spyre Therapeutics in the first quarter valued at approximately $141,000. Finally, Royal Bank of Canada boosted its holdings in shares of Spyre Therapeutics by 63.5% in the first quarter. Royal Bank of Canada now owns 3,250 shares of the company’s stock valued at $164,000 after buying an additional 1,262 shares during the period. 80.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SYRE shares. Wells Fargo & Company upped their target price on shares of Spyre Therapeutics from $50.00 to $90.00 and gave the company an “overweight” rating in a research note on Tuesday, April 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Spyre Therapeutics in a research report on Thursday, June 4th. Jefferies Financial Group boosted their price target on shares of Spyre Therapeutics from $47.00 to $85.00 and gave the company a “buy” rating in a report on Monday, April 13th. BTIG Research upped their price objective on shares of Spyre Therapeutics from $98.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Finally, Wedbush reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Spyre Therapeutics in a research note on Tuesday, June 16th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $95.83.

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.