Spyre Therapeutics (NASDAQ:SYRE) Insider Sells 27,999 Shares of Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) insider Heidy King-Jones sold 27,999 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $87.31, for a total transaction of $2,444,592.69. Following the completion of the transaction, the insider owned 2,845 shares in the company, valued at $248,396.95. The trade was a 90.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Heidy King-Jones also recently made the following trade(s):

• On Wednesday, September 2nd, Heidy King-Jones sold 400 shares of Spyre Therapeutics stock. The stock was sold at an average price of $90.00, for a total transaction of $36,000.00.

Spyre Therapeutics Stock Performance

Shares of NASDAQ:SYRE traded up $0.20 during midday trading on Thursday, hitting $87.25. The company’s stock had a trading volume of 1,054,184 shares, compared to its average volume of 1,063,422. The stock’s 50 day simple moving average is $98.03 and its 200 day simple moving average is $74.53. The stock has a market capitalization of $7.67 billion, a price-to-earnings ratio of -44.74 and a beta of 2.99. Spyre Therapeutics, Inc. has a fifty-two week low of $14.51 and a fifty-two week high of $110.18.

Spyre Therapeutics (NASDAQ:SYRE) last announced its earnings results on Tuesday, August 4th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.40. As a group, analysts anticipate that Spyre Therapeutics, Inc. will post -2.62 EPS for the current year.

Institutional Investors Weigh In On Spyre Therapeutics

A number of large investors have recently bought and sold shares of the business. California State Teachers Retirement System raised its position in Spyre Therapeutics by 9,594.0% in the 2nd quarter. California State Teachers Retirement System now owns 5,742,912 shares of the company’s stock valued at $509,856,000 after purchasing an additional 5,683,670 shares during the last quarter. RTW Investments LP raised its holdings in shares of Spyre Therapeutics by 15.2% in the fourth quarter. RTW Investments LP now owns 4,171,996 shares of the company’s stock valued at $136,675,000 after buying an additional 550,000 shares during the last quarter. Vanguard Group Inc. lifted 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 worth $132,189,000 after buying an additional 984,344 shares in the last quarter. Perceptive Advisors LLC lifted 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 worth $190,826,000 after buying an additional 714,000 shares in the last quarter. Finally, Capital International Investors raised its stake in shares of Spyre Therapeutics by 46.0% in the fourth quarter. Capital International Investors now owns 3,492,541 shares of the company’s stock worth $114,416,000 after acquiring an additional 1,100,000 shares during the last quarter. 80.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Spyre Therapeutics from $135.00 to $127.00 and set a “buy” rating on the stock in a research report on Wednesday, August 26th. Wells Fargo & Company boosted their price target on Spyre Therapeutics from $90.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Mizuho raised their price objective on Spyre Therapeutics from $84.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Guggenheim lifted their price objective on Spyre Therapeutics from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Wolfe Research lowered Spyre Therapeutics from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.69.

About Spyre Therapeutics

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.