Spyre Therapeutics (NASDAQ:SYRE) Insider Sheldon Sloan Sells 7,958 Shares

Spyre Therapeutics, Inc. (NASDAQ:SYRE) insider Sheldon Sloan sold 7,958 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $50.00, for a total transaction of $397,900.00. Following the transaction, the insider directly owned 7,958 shares of the company’s stock, valued at $397,900. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Spyre Therapeutics Price Performance

Spyre Therapeutics stock opened at $47.58 on Friday. The business has a 50 day simple moving average of $40.00 and a 200 day simple moving average of $30.94. The company has a market capitalization of $3.74 billion, a PE ratio of -22.88 and a beta of 2.93. Spyre Therapeutics, Inc. has a one year low of $10.91 and a one year high of $51.06.

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

Analysts Set New Price Targets

A number of research firms have commented on SYRE. BTIG Research restated a “buy” rating and issued a $70.00 price target on shares of Spyre Therapeutics in a research report on Tuesday. Leerink Partners raised shares of Spyre Therapeutics to a “strong-buy” rating in a report on Thursday, February 19th. Mizuho raised Spyre Therapeutics to a “strong-buy” rating in a report on Thursday, December 18th. Wall Street Zen lowered Spyre Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Finally, Citigroup started coverage on Spyre Therapeutics in a report on Wednesday, December 17th. They set a “buy” rating and a $64.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Spyre Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $60.67.

Institutional Investors Weigh In On Spyre Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Affinity Asset Advisors LLC raised its position in Spyre Therapeutics by 26.0% in the 2nd quarter. Affinity Asset Advisors LLC now owns 606,678 shares of the company’s stock worth $9,082,000 after purchasing an additional 125,000 shares during the last quarter. HighVista Strategies LLC increased its stake in shares of Spyre Therapeutics by 91.3% in the 3rd quarter. HighVista Strategies LLC now owns 215,746 shares of the company’s stock valued at $3,616,000 after buying an additional 102,941 shares during the period. Candriam S.C.A. raised its position in shares of Spyre Therapeutics by 64.4% during the third quarter. Candriam S.C.A. now owns 404,362 shares of the company’s stock worth $6,777,000 after acquiring an additional 158,332 shares during the last quarter. AlphaQuest LLC lifted its stake in shares of Spyre Therapeutics by 1,485.1% during the third quarter. AlphaQuest LLC now owns 66,163 shares of the company’s stock valued at $1,109,000 after acquiring an additional 61,989 shares during the period. Finally, Baker BROS. Advisors LP boosted its holdings in Spyre Therapeutics by 59.6% in the third quarter. Baker BROS. Advisors LP now owns 1,000,000 shares of the company’s stock valued at $16,760,000 after acquiring an additional 373,297 shares during the last quarter. Institutional investors and hedge funds own 80.39% of the company’s stock.

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.