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 company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $87.74, for a total transaction of $658,050.00. Following the completion of the sale, the chief financial officer owned 97,994 shares in the company, valued at approximately $8,597,993.56. This trade represents a 7.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Spyre Therapeutics Stock Performance

Shares of NASDAQ SYRE opened at $86.63 on Friday. The company has a 50 day simple moving average of $77.77 and a two-hundred day simple moving average of $53.55. Spyre Therapeutics, Inc. has a fifty-two week low of $14.51 and a fifty-two week high of $102.06. The company has a market capitalization of $7.62 billion, a price-to-earnings ratio of -41.65 and a beta of 3.02.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.08). On average, analysts forecast that Spyre Therapeutics, Inc. will post -2.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Spyre Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Summit Securities Group LLC purchased a new stake in Spyre Therapeutics during the 1st quarter valued at $28,000. KBC Group NV purchased a new position in shares of Spyre Therapeutics in the first quarter worth $69,000. Russell Investments Group Ltd. raised its stake in shares of Spyre Therapeutics by 2,881.7% in the third quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company’s stock worth $71,000 after purchasing an additional 4,092 shares during the last quarter. Persistent Asset Partners Ltd bought a new position in shares of Spyre Therapeutics during the fourth quarter valued at $74,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Spyre Therapeutics by 182.2% during the second quarter. Tower Research Capital LLC TRC now owns 5,769 shares of the company’s stock valued at $86,000 after purchasing an additional 3,725 shares in the last quarter. 80.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on SYRE shares. Jefferies Financial Group boosted their target price on Spyre Therapeutics from $47.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Raymond James Financial assumed coverage on Spyre Therapeutics in a report on Monday, April 13th. They set a “strong-buy” rating and a $80.00 price target for the company. Deutsche Bank Aktiengesellschaft lifted their price target on Spyre Therapeutics from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Leerink Partners increased their price objective on shares of Spyre Therapeutics from $49.00 to $106.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Finally, JonesTrading increased their price objective on shares of Spyre Therapeutics from $64.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $95.83.

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.