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

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CFO Scott Burrows sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $87.31, for a total value of $654,825.00. Following the completion of the sale, the chief financial officer owned 97,994 shares of the company’s stock, valued at $8,555,856.14. The trade was a 7.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 Stock Performance

NASDAQ:SYRE opened at $87.25 on Friday. Spyre Therapeutics, Inc. has a fifty-two week low of $14.51 and a fifty-two week 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 business 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 quarterly earnings results on Tuesday, August 4th. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.40. Research analysts predict that Spyre Therapeutics, Inc. will post -2.62 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wedbush lowered their price objective on shares of Spyre Therapeutics from $130.00 to $123.00 and set an “outperform” rating for the company in a research note on Wednesday, August 26th. BTIG Research reduced their price target on Spyre Therapeutics from $132.00 to $121.00 and set a “buy” rating on the stock in a report on Wednesday, August 26th. Guggenheim upped their price target on Spyre Therapeutics from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Spyre Therapeutics in a report on Tuesday. Finally, Wall Street Zen lowered Spyre Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, August 16th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $109.69.

Key Headlines Impacting Spyre Therapeutics

Here are the key news stories impacting Spyre Therapeutics this week:

• Positive Sentiment: Management will participate in the Citi BioPharma Back to School Conference on September 9, the Wells Fargo Healthcare Conference on September 10, and the Stifel Immunology and Inflammation Forum on September 23. Investor meetings and fireside chats could provide updates on Spyre’s clinical pipeline and development plans, potentially helping restore investor confidence. Spyre Therapeutics to Participate in Upcoming September Investor Conferences
• Neutral Sentiment: Spyre’s chief executive, chief financial officer and insider Heidy King-Jones collectively reported sales of approximately 69,000 shares during September 1–2. The transactions were made under pre-arranged Rule 10b5-1 plans, reducing their significance as discretionary signals about the company’s outlook.
• Negative Sentiment: The insider selling is nevertheless a potential overhang. CEO Cameron Turtle sold 15,000 shares, while CFO Scott Burrows sold 25,732 shares in two transactions. Burrows said his sales were made to cover tax-withholding obligations tied to vested equity awards. King-Jones sold 28,399 shares and was left with a substantially smaller position, which could reinforce concerns about insider confidence even though the sales were prearranged. CEO SEC filing CFO SEC filing
• Negative Sentiment: A Zacks review notes that SYRE has declined 16.6% since its latest earnings report, indicating that investors remain cautious following the quarterly update and are looking for new clinical or corporate catalysts before bidding the stock higher. Spyre Therapeutics Down 16.6% Since Last Earnings Report

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System grew its stake in Spyre Therapeutics by 9,594.0% in the second quarter. California State Teachers Retirement System now owns 5,742,912 shares of the company’s stock worth $509,856,000 after purchasing an additional 5,683,670 shares during the period. Perceptive Advisors LLC lifted its position in Spyre Therapeutics by 149.6% during the fourth quarter. Perceptive Advisors LLC now owns 3,069,225 shares of the company’s stock valued at $100,548,000 after buying an additional 1,839,780 shares during the period. Janus Henderson Group PLC lifted its position in Spyre Therapeutics by 13,969.3% during the fourth quarter. Janus Henderson Group PLC now owns 1,829,009 shares of the company’s stock valued at $59,918,000 after buying an additional 1,816,009 shares during the period. RA Capital Management L.P. bought a new stake in shares of Spyre Therapeutics during the 4th quarter valued at $53,124,000. Finally, Remedium Capital Partners LLC bought a new stake in shares of Spyre Therapeutics during the 4th quarter valued at $47,706,000. Hedge funds and other institutional investors own 80.39% of the company’s stock.

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.