Spyre Therapeutics (NASDAQ:SYRE) CFO Sells $654,825.00 in Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CFO Scott Burrows sold 7,500 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $87.31, for a total transaction of $654,825.00. Following the sale, the chief financial officer owned 97,994 shares in the company, valued at $8,555,856.14. The trade was a 7.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Spyre Therapeutics Stock Performance

Shares of Spyre Therapeutics stock traded up $0.20 on Thursday, reaching $87.25. 1,054,184 shares of the stock were exchanged, compared to its average volume of 1,063,422. The firm’s 50 day moving average is $98.03 and its 200-day moving average is $74.53. Spyre Therapeutics, Inc. has a one year low of $14.51 and a one year high of $110.18. The firm has a market cap of $7.67 billion, a PE ratio of -44.74 and a beta of 2.99.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly 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. On average, equities research analysts expect that Spyre Therapeutics, Inc. will post -2.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SYRE. Stifel Nicolaus lifted their price target on Spyre Therapeutics from $92.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft dropped their price objective on Spyre Therapeutics from $135.00 to $127.00 and set a “buy” rating for the company in a research report on Wednesday, August 26th. Citigroup raised their price objective on Spyre Therapeutics from $64.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Mizuho boosted their target price on Spyre Therapeutics from $84.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Finally, BTIG Research dropped their target price on shares of Spyre Therapeutics from $132.00 to $121.00 and set a “buy” rating for the company in a report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $109.69.

Institutional Investors Weigh In On Spyre Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Summit Securities Group LLC acquired a new stake in shares of Spyre Therapeutics during the first quarter valued at about $28,000. GAMMA Investing LLC increased its position in Spyre Therapeutics by 26.8% in 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 during the period. KBC Group NV acquired a new position in Spyre Therapeutics in the 1st quarter valued at approximately $69,000. Nykredit A S bought a new position in shares of Spyre Therapeutics during the second quarter valued at $173,000. Finally, Persistent Asset Partners Ltd bought a new position in shares of Spyre Therapeutics during the fourth quarter valued at $74,000. Institutional investors 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.