Insider Selling: Spyre Therapeutics (NASDAQ:SYRE) CEO Sells 15,000 Shares of Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CEO Cameron Turtle sold 15,000 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $32.80, for a total value of $492,000.00. Following the transaction, the chief executive officer owned 657,540 shares in the company, valued at approximately $21,567,312. This represents a 2.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, January 2nd, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The shares were sold at an average price of $30.68, for a total value of $460,200.00.
• On Monday, December 1st, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The stock was sold at an average price of $29.02, for a total value of $435,300.00.

Spyre Therapeutics Price Performance

NASDAQ SYRE traded down $1.22 on Wednesday, reaching $32.07. The company had a trading volume of 408,602 shares, compared to its average volume of 529,962. Spyre Therapeutics, Inc. has a 1 year low of $10.91 and a 1 year high of $35.31. The firm has a 50-day moving average of $32.52 and a 200-day moving average of $23.76. The firm has a market capitalization of $2.49 billion, a PE ratio of -14.64 and a beta of 3.15.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.53. As a group, sell-side analysts expect that Spyre Therapeutics, Inc. will post -4.46 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Spyre Therapeutics in a report on Monday, December 29th. BTIG Research reissued a “buy” rating and set a $70.00 price target on shares of Spyre Therapeutics in a research report on Friday, January 16th. Mizuho raised shares of Spyre Therapeutics to a “strong-buy” rating in a report on Thursday, December 18th. Citigroup started coverage on shares of Spyre Therapeutics in a research note on Wednesday, December 17th. They set a “buy” rating and a $64.00 price objective on the stock. Finally, Wall Street Zen raised shares of Spyre Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Three research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $53.88.

Institutional Trading of Spyre Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC grew its stake in Spyre Therapeutics by 357.8% during the 2nd quarter. CWM LLC now owns 1,712 shares of the company’s stock worth $26,000 after buying an additional 1,338 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Spyre Therapeutics by 61.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,770 shares of the company’s stock worth $124,000 after acquiring an additional 1,435 shares during the last quarter. AlphaQuest LLC increased its holdings in shares of Spyre Therapeutics by 30.8% in the 2nd quarter. AlphaQuest LLC now owns 4,174 shares of the company’s stock worth $62,000 after acquiring an additional 983 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Spyre Therapeutics by 2,881.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company’s stock worth $71,000 after acquiring an additional 4,092 shares during the period. Finally, Ameritas Investment Partners Inc. lifted its position in Spyre Therapeutics by 25.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,091 shares of the company’s stock valued at $76,000 after purchasing an additional 1,045 shares during the last quarter. 80.39% of the stock is currently owned by institutional investors and hedge funds.

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.