Spyre Therapeutics (NASDAQ:SYRE) Insider Sheldon Sloan Sells 7,958 Shares

Spyre Therapeutics, Inc. (NASDAQ:SYRE) insider Sheldon Sloan sold 7,958 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $50.00, for a total value of $397,900.00. Following the completion of the transaction, the insider directly owned 7,958 shares of the company’s stock, valued at $397,900. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Spyre Therapeutics Price Performance

SYRE remained flat at $47.58 during trading on Friday. The company’s stock had a trading volume of 438,025 shares, compared to its average volume of 829,300. The stock’s 50-day moving average price is $40.00 and its 200 day moving average price is $30.94. The firm has a market capitalization of $3.74 billion, a P/E ratio of -22.88 and a beta of 2.93. Spyre Therapeutics, Inc. has a one year low of $10.91 and a one year high of $51.06.

Spyre Therapeutics (NASDAQ:SYRE) last posted its 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). Equities research analysts anticipate that Spyre Therapeutics, Inc. will post -4.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Spyre Therapeutics

Hedge funds have recently modified their holdings of the company. Affinity Asset Advisors LLC lifted its stake in shares of Spyre Therapeutics by 26.0% during the second quarter. Affinity Asset Advisors LLC now owns 606,678 shares of the company’s stock valued at $9,082,000 after buying an additional 125,000 shares during the period. HighVista Strategies LLC grew its stake in Spyre Therapeutics by 91.3% in the 3rd quarter. HighVista Strategies LLC now owns 215,746 shares of the company’s stock worth $3,616,000 after acquiring an additional 102,941 shares during the period. Candriam S.C.A. grew its stake in Spyre Therapeutics by 64.4% in the 3rd quarter. Candriam S.C.A. now owns 404,362 shares of the company’s stock worth $6,777,000 after acquiring an additional 158,332 shares during the period. AlphaQuest LLC raised its holdings in Spyre Therapeutics by 1,485.1% in the 3rd quarter. AlphaQuest LLC now owns 66,163 shares of the company’s stock valued at $1,109,000 after acquiring an additional 61,989 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Spyre Therapeutics in the 3rd quarter valued at $310,000. 80.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Spyre Therapeutics from $40.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, February 20th. BTIG Research reiterated a “buy” rating and issued a $70.00 price target on shares of Spyre Therapeutics in a research report on Tuesday. Mizuho raised shares of Spyre Therapeutics to a “strong-buy” rating in a research note on Thursday, December 18th. Leerink Partners upgraded Spyre Therapeutics to a “strong-buy” rating in a research report on Thursday, February 19th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Spyre Therapeutics in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $60.67.

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.