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

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CFO Scott Burrows sold 7,500 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $87.31, for a total transaction of $654,825.00. Following the completion of the transaction, the chief financial officer directly owned 97,994 shares in the company, valued at approximately $8,555,856.14. This represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Spyre Therapeutics Trading Up 0.2%

Shares of NASDAQ:SYRE traded up $0.20 during trading on Thursday, reaching $87.25. 1,054,184 shares of the stock were exchanged, compared to its average volume of 1,063,422. Spyre Therapeutics, Inc. has a 12 month low of $14.51 and a 12 month high of $110.18. The firm has a market cap of $7.67 billion, a PE ratio of -44.74 and a beta of 2.99. The stock has a 50-day moving average price of $98.03 and a 200-day moving average price of $74.53.

Spyre Therapeutics (NASDAQ:SYRE) last posted its earnings results on Tuesday, August 4th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.40. On average, sell-side analysts expect that Spyre Therapeutics, Inc. will post -2.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on SYRE shares. Guggenheim upped their price objective on Spyre Therapeutics from $115.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Wedbush dropped their target price on Spyre Therapeutics from $130.00 to $123.00 and set an “outperform” rating for the company in a report on Wednesday, August 26th. Citigroup boosted their target price on shares of Spyre Therapeutics from $64.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Wells Fargo & Company upped their price target on shares of Spyre Therapeutics from $90.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Spyre Therapeutics in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.69.

Institutional Investors Weigh In On Spyre Therapeutics

Several institutional investors have recently made changes to their positions in SYRE. Summit Securities Group LLC acquired a new stake in Spyre Therapeutics during the first quarter worth approximately $28,000. GAMMA Investing LLC raised its holdings in Spyre Therapeutics by 26.8% in the 2nd quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock valued at $59,000 after acquiring an additional 140 shares in the last quarter. KBC Group NV acquired a new position in Spyre Therapeutics in the 1st quarter valued at $69,000. Russell Investments Group Ltd. lifted its position in shares of Spyre Therapeutics by 2,881.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company’s stock valued at $71,000 after acquiring an additional 4,092 shares during the period. Finally, Persistent Asset Partners Ltd bought a new stake in shares of Spyre Therapeutics during the 4th quarter valued at $74,000. 80.39% of the stock is currently owned by institutional investors.

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.