Spyre Therapeutics (NASDAQ:SYRE) Stock: Insider Heidy King-Jones Sells 28,933 Shares

Spyre Therapeutics, Inc. (NASDAQ:SYRE) insider Heidy King-Jones sold 28,933 shares of the firm’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $91.03, for a total value of $2,633,770.99. Following the transaction, the insider directly owned 2,845 shares of the company’s stock, valued at $258,980.35. This represents a 91.05% decrease in their position. The sale 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.

Heidy King-Jones also recently made the following trade(s):

• On Tuesday, September 1st, Heidy King-Jones sold 27,999 shares of Spyre Therapeutics stock. The stock was sold at an average price of $87.31, for a total transaction of $2,444,592.69.
• On Wednesday, September 2nd, Heidy King-Jones sold 400 shares of Spyre Therapeutics stock. The shares were sold at an average price of $90.00, for a total transaction of $36,000.00.

Spyre Therapeutics Stock Performance

NASDAQ SYRE traded up $3.26 on Friday, reaching $93.19. The company’s stock had a trading volume of 1,235,015 shares, compared to its average volume of 1,229,962. Spyre Therapeutics, Inc. has a twelve month low of $15.86 and a twelve month high of $110.18. The firm’s 50 day moving average is $95.71 and its two-hundred day moving average is $81.43. The stock has a market cap of $8.20 billion, a PE ratio of -47.79 and a beta of 3.10.

Spyre Therapeutics (NASDAQ:SYRE) last released its earnings results on Tuesday, August 4th. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.40. Equities research analysts anticipate that Spyre Therapeutics, Inc. will post -2.71 EPS for the current fiscal year.

Analysts Set New Price Targets

SYRE has been the topic of several research reports. Guggenheim upped their price target on Spyre Therapeutics from $115.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft decreased their target price on Spyre Therapeutics from $135.00 to $127.00 and set a “buy” rating on the stock in a report on Wednesday, August 26th. Wells Fargo & Company boosted their target price on Spyre Therapeutics from $90.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Robert W. Baird set a $120.00 target price on Spyre Therapeutics in a report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. began coverage on Spyre Therapeutics in a research report on Thursday. They issued an “overweight” rating and a $110.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $109.71.

Institutional Investors Weigh In On Spyre Therapeutics

Several hedge funds have recently bought and sold shares of SYRE. Engineers Gate Manager LP acquired a new stake in shares of Spyre Therapeutics during the second quarter worth approximately $3,416,000. Integrated Wealth Concepts LLC purchased a new position in Spyre Therapeutics during the second quarter valued at approximately $31,000. Maven Securities LTD acquired a new position in Spyre Therapeutics in the 2nd quarter valued at approximately $3,551,000. Squarepoint Ops LLC purchased a new stake in Spyre Therapeutics in the 2nd quarter worth approximately $12,394,000. Finally, Arizona State Retirement System lifted its position in Spyre Therapeutics by 15.1% in the 2nd quarter. Arizona State Retirement System now owns 15,471 shares of the company’s stock worth $1,374,000 after buying an additional 2,033 shares in the last quarter. 80.39% of the stock is owned by hedge funds and other institutional investors.

About Spyre Therapeutics

Spyre Therapeutics, Inc is a clinical-stage biotechnology company focused on developing antibody therapeutics for inflammatory bowel disease (IBD), including ulcerative colitis and Crohn’s disease. The company is working to create next-generation biologic medicines intended to address significant treatment needs in these chronic gastrointestinal conditions.

Spyre’s pipeline includes programs directed at validated inflammatory pathways, including interleukin-23 (IL-23) and tumor necrosis factor-like ligand 1A (TL1A).