Insider Selling: Spyre Therapeutics (NASDAQ:SYRE) CEO Sells $1,432,650.00 in Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CEO Cameron Turtle sold 15,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $95.51, for a total transaction of $1,432,650.00. Following the completion of the sale, the chief executive officer owned 567,540 shares of the company’s stock, valued at $54,205,745.40. This trade represents a 2.57% decrease in their position. The transaction 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.

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

• On Wednesday, July 1st, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The stock was sold at an average price of $87.69, for a total transaction of $1,315,350.00.
• On Monday, June 1st, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The stock was sold at an average price of $70.43, for a total transaction of $1,056,450.00.

Spyre Therapeutics Stock Up 1.4%

Shares of NASDAQ:SYRE opened at $104.91 on Friday. Spyre Therapeutics, Inc. has a 52 week low of $14.51 and a 52 week high of $108.14. The company has a 50-day moving average price of $91.17 and a 200 day moving average price of $65.43. The company has a market cap of $9.23 billion, a P/E ratio of -53.80 and a beta of 3.03.

Spyre Therapeutics (NASDAQ:SYRE) last released its earnings results on Tuesday, August 4th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.40. Analysts expect that Spyre Therapeutics, Inc. will post -2.7 EPS for the current year.

Institutional Trading of Spyre Therapeutics

Several large investors have recently bought and sold shares of SYRE. Bank of New York Mellon Corp acquired a new position in shares of Spyre Therapeutics during the 2nd quarter worth $21,768,000. Handelsbanken Fonder AB purchased a new position in Spyre Therapeutics during the 2nd quarter valued at about $2,308,000. GAMMA Investing LLC increased its holdings in Spyre Therapeutics by 26.8% during the 2nd quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock valued at $59,000 after acquiring an additional 140 shares in the last quarter. Seven Fleet Capital Management LP acquired a new position in Spyre Therapeutics during the first quarter worth about $993,000. Finally, Perceptive Advisors LLC lifted its holdings in shares of Spyre Therapeutics by 23.3% in the first quarter. Perceptive Advisors LLC now owns 3,783,225 shares of the company’s stock valued at $190,826,000 after purchasing an additional 714,000 shares in the last quarter. Institutional investors and hedge funds own 80.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SYRE shares. BTIG Research raised their target price on Spyre Therapeutics from $98.00 to $112.00 and gave the company a “buy” rating in a report on Monday, June 15th. Mizuho increased their price target on shares of Spyre Therapeutics from $84.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Spyre Therapeutics in a research note on Thursday, June 4th. Robert W. Baird set a $120.00 price objective on shares of Spyre Therapeutics in a report on Wednesday. Finally, Wolfe Research lowered shares of Spyre Therapeutics from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, July 28th. One equities research 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 assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $110.15.

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.