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

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CFO Scott Burrows sold 7,500 shares of Spyre Therapeutics stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $49.34, for a total transaction of $370,050.00. Following the completion of the sale, the chief financial officer owned 97,994 shares in the company, valued at $4,835,023.96. The trade was a 7.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Spyre Therapeutics Stock Performance

Shares of Spyre Therapeutics stock remained flat at $47.58 during trading hours on Friday. 438,025 shares of the stock were exchanged, compared to its average volume of 829,300. The business’s fifty day moving average is $40.00 and its 200 day moving average is $30.94. Spyre Therapeutics, Inc. has a one year low of $10.91 and a one year high of $51.06. The firm has a market cap of $3.74 billion, a PE ratio of -22.88 and a beta of 2.93.

Spyre Therapeutics (NASDAQ:SYRE) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.70) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.04). Equities analysts predict that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SYRE. Leerink Partners raised Spyre Therapeutics to a “strong-buy” rating in a research report on Thursday, February 19th. Wall Street Zen cut shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Stifel Nicolaus boosted their target price on shares of Spyre Therapeutics from $70.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Spyre Therapeutics in a report on Monday, December 29th. Finally, Mizuho raised shares of Spyre Therapeutics to a “strong-buy” rating in a research report on Thursday, December 18th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Spyre Therapeutics has an average rating of “Buy” and an average target price of $60.67.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Affinity Asset Advisors LLC raised its stake in Spyre Therapeutics by 26.0% in the 2nd quarter. Affinity Asset Advisors LLC now owns 606,678 shares of the company’s stock valued at $9,082,000 after acquiring an additional 125,000 shares during the period. HighVista Strategies LLC lifted its holdings in Spyre Therapeutics by 91.3% during the 3rd quarter. HighVista Strategies LLC now owns 215,746 shares of the company’s stock valued at $3,616,000 after purchasing an additional 102,941 shares during the last quarter. AlphaQuest LLC boosted its position in Spyre Therapeutics by 1,485.1% during the third quarter. AlphaQuest LLC now owns 66,163 shares of the company’s stock worth $1,109,000 after purchasing an additional 61,989 shares during the period. Candriam S.C.A. increased its holdings in shares of Spyre Therapeutics by 64.4% in the third quarter. Candriam S.C.A. now owns 404,362 shares of the company’s stock valued at $6,777,000 after purchasing an additional 158,332 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Spyre Therapeutics in the third quarter valued at $310,000. 80.39% of the stock is currently owned by 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.