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

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

Spyre Therapeutics Price Performance

NASDAQ SYRE opened at $40.07 on Wednesday. The company has a fifty day moving average price of $34.73 and a 200-day moving average price of $26.74. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of -19.26 and a beta of 3.09. Spyre Therapeutics, Inc. has a 1 year low of $10.91 and a 1 year high of $45.76.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SYRE shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Spyre Therapeutics in a report on Monday, December 29th. JonesTrading raised Spyre Therapeutics from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research report on Monday, December 1st. Citigroup started coverage on Spyre Therapeutics in a research report on Wednesday, December 17th. They set a “buy” rating and a $64.00 target price for the company. Leerink Partners upgraded Spyre Therapeutics to a “strong-buy” rating in a research note on Thursday, February 19th. Finally, Wall Street Zen downgraded shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $53.44.

Institutional Trading of Spyre Therapeutics

Several hedge funds have recently made changes to their positions in the company. CWM LLC grew its stake in shares of Spyre Therapeutics by 357.8% during the 2nd quarter. CWM LLC now owns 1,712 shares of the company’s stock worth $26,000 after acquiring an additional 1,338 shares during the period. Persistent Asset Partners Ltd bought a new position in Spyre Therapeutics during the fourth quarter worth about $74,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Spyre Therapeutics by 61.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,770 shares of the company’s stock worth $124,000 after purchasing an additional 1,435 shares in the last quarter. AlphaQuest LLC increased its stake in shares of Spyre Therapeutics by 30.8% in the second 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. Finally, Russell Investments Group Ltd. lifted its stake in shares of Spyre Therapeutics by 2,881.7% during 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 in the last quarter. 80.39% of the stock is currently owned by institutional investors.

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.