Spyre Therapeutics (NASDAQ:SYRE) CEO Cameron Turtle Sells 15,000 Shares

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CEO Cameron Turtle sold 15,000 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $87.69, for a total transaction of $1,315,350.00. Following the completion of the transaction, the chief executive officer directly owned 582,540 shares of the company’s stock, valued at $51,082,932.60. This trade represents a 2.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, June 1st, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The shares were sold at an average price of $70.43, for a total value of $1,056,450.00.
• On Friday, May 1st, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The stock was sold at an average price of $71.37, for a total value of $1,070,550.00.

Spyre Therapeutics Price Performance

Shares of SYRE traded down $2.26 during mid-day trading on Thursday, reaching $86.63. The company had a trading volume of 973,914 shares, compared to its average volume of 1,804,648. The company has a market capitalization of $7.62 billion, a P/E ratio of -41.65 and a beta of 3.02. Spyre Therapeutics, Inc. has a twelve month low of $14.51 and a twelve month high of $102.06. The company’s 50-day moving average is $77.77 and its 200-day moving average is $53.55.

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

Wall Street Analyst Weigh In

A number of research firms have commented on SYRE. Citigroup boosted their price target on shares of Spyre Therapeutics from $64.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. JonesTrading boosted their price objective on Spyre Therapeutics from $64.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Raymond James Financial began coverage on shares of Spyre Therapeutics in a research report on Monday, April 13th. They set a “strong-buy” rating and a $80.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Spyre Therapeutics in a research report on Thursday, June 4th. Finally, BTIG Research boosted their price target on shares of Spyre Therapeutics from $98.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Spyre Therapeutics presently has an average rating of “Buy” and an average price target of $95.83.

Hedge Funds Weigh In On Spyre Therapeutics

Several hedge funds have recently added to or reduced their stakes in the stock. Summit Securities Group LLC bought a new stake in shares of Spyre Therapeutics in the 1st quarter valued at about $28,000. KBC Group NV bought a new position in Spyre Therapeutics during the 1st quarter worth approximately $69,000. Russell Investments Group Ltd. grew its holdings in Spyre Therapeutics by 2,881.7% during the third quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company’s stock valued at $71,000 after purchasing an additional 4,092 shares during the period. Persistent Asset Partners Ltd acquired a new position in Spyre Therapeutics during the fourth quarter valued at approximately $74,000. Finally, Tower Research Capital LLC TRC increased its stake in Spyre Therapeutics by 182.2% in 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. 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.