Spyre Therapeutics (NASDAQ:SYRE) CEO Sells $1,056,450.00 in Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CEO Cameron Turtle sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $70.43, for a total value of $1,056,450.00. Following the sale, the chief executive officer owned 597,540 shares in the company, valued at approximately $42,084,742.20. This trade represents a 2.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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.
• On Wednesday, April 1st, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The shares were sold at an average price of $49.33, for a total value of $739,950.00.

Spyre Therapeutics Price Performance

Shares of SYRE stock opened at $73.65 on Friday. Spyre Therapeutics, Inc. has a 1 year low of $13.93 and a 1 year high of $79.54. The stock’s 50 day simple moving average is $66.62 and its two-hundred day simple moving average is $45.92. The company has a market cap of $6.40 billion, a PE ratio of -35.41 and a beta of 3.05.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.08). Equities research analysts expect that Spyre Therapeutics, Inc. will post -2.79 EPS for the current year.

Analyst Ratings Changes

SYRE has been the topic of several recent analyst reports. Raymond James Financial initiated coverage on Spyre Therapeutics in a report on Monday, April 13th. They issued a “strong-buy” rating and a $80.00 price target on the stock. Robert W. Baird increased their price target on Spyre Therapeutics from $65.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, April 14th. Wells Fargo & Company increased their price target on Spyre Therapeutics from $50.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, April 14th. Wall Street Zen downgraded Spyre Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Spyre Therapeutics from $102.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Spyre Therapeutics has a consensus rating of “Buy” and a consensus target price of $91.33.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. RTW Investments LP increased its holdings in Spyre Therapeutics by 15.2% during the 4th quarter. RTW Investments LP now owns 4,171,996 shares of the company’s stock worth $136,675,000 after purchasing an additional 550,000 shares during the period. Vanguard Group Inc. boosted its position in Spyre Therapeutics by 32.3% during the 4th quarter. Vanguard Group Inc. now owns 4,035,074 shares of the company’s stock valued at $132,189,000 after acquiring an additional 984,344 shares in the last quarter. Perceptive Advisors LLC boosted its position in Spyre Therapeutics by 23.3% during 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 in the last quarter. Capital International Investors boosted its position in Spyre Therapeutics by 46.0% during the 4th quarter. Capital International Investors now owns 3,492,541 shares of the company’s stock valued at $114,416,000 after acquiring an additional 1,100,000 shares in the last quarter. Finally, Commodore Capital LP boosted its position in Spyre Therapeutics by 20.1% during the 4th quarter. Commodore Capital LP now owns 2,388,245 shares of the company’s stock valued at $78,239,000 after acquiring an additional 400,161 shares in the last quarter. 80.39% of the stock is currently owned by hedge funds and other 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.