Scott Burrows Sells 2,500 Shares of Spyre Therapeutics (NASDAQ:SYRE) Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CFO Scott Burrows sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $40.65, for a total transaction of $101,625.00. Following the completion of the transaction, the chief financial officer directly owned 97,994 shares in the company, valued at approximately $3,983,456.10. The trade was a 2.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Spyre Therapeutics Price Performance

Shares of Spyre Therapeutics stock traded down $2.42 on Tuesday, hitting $40.07. 921,701 shares of the company’s stock traded hands, compared to its average volume of 747,590. The firm’s 50-day moving average price is $34.73 and its two-hundred day moving average price is $26.74. The stock has a market capitalization of $3.15 billion, a PE ratio of -19.26 and a beta of 3.09. Spyre Therapeutics, Inc. has a one year low of $10.91 and a one year high of $45.76.

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SYRE shares. Leerink Partners raised shares of Spyre Therapeutics to a “strong-buy” rating in a research note on Thursday, February 19th. Citigroup assumed coverage on shares of Spyre Therapeutics in a research report on Wednesday, December 17th. They set a “buy” rating and a $64.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of Spyre Therapeutics from $40.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, February 20th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Spyre Therapeutics in a research note on Monday, December 29th. Finally, Wall Street Zen cut Spyre Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Two equities research 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.com, the stock has an average rating of “Buy” and a consensus price target of $53.44.

Institutional Investors Weigh In On Spyre Therapeutics

Several institutional investors have recently added to or reduced their stakes in SYRE. CWM LLC boosted its position in Spyre Therapeutics by 357.8% during the second quarter. CWM LLC now owns 1,712 shares of the company’s stock valued at $26,000 after purchasing an additional 1,338 shares during the last quarter. AlphaQuest LLC raised its stake in shares of Spyre Therapeutics by 30.8% during the 2nd quarter. AlphaQuest LLC now owns 4,174 shares of the company’s stock worth $62,000 after purchasing an additional 983 shares in the last quarter. Russell Investments Group Ltd. boosted 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 valued at $71,000 after buying an additional 4,092 shares during the last quarter. Persistent Asset Partners Ltd bought a new position in shares of Spyre Therapeutics in the fourth quarter valued at $74,000. Finally, Ameritas Investment Partners Inc. grew its stake in shares of Spyre Therapeutics by 25.8% in the second quarter. Ameritas Investment Partners Inc. now owns 5,091 shares of the company’s stock valued at $76,000 after buying an additional 1,045 shares in the last quarter. 80.39% of the stock is owned by institutional investors.

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.