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 firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $70.43, for a total transaction of $1,056,450.00. Following the transaction, the chief executive officer directly owned 597,540 shares of the company’s stock, valued at approximately $42,084,742.20. This trade represents a 2.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 transaction of $1,070,550.00.
• On Wednesday, April 1st, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The stock was sold at an average price of $49.33, for a total transaction of $739,950.00.

Spyre Therapeutics Price Performance

Shares of SYRE opened at $73.52 on Thursday. The firm has a 50 day simple moving average of $65.34 and a 200-day simple moving average of $45.34. Spyre Therapeutics, Inc. has a 1-year low of $13.93 and a 1-year high of $78.80. The stock has a market cap of $6.38 billion, a price-to-earnings ratio of -35.35 and a beta of 3.05.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings data 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). On average, equities analysts expect that Spyre Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SYRE. JonesTrading raised their target price on shares of Spyre Therapeutics from $64.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Jefferies Financial Group raised their target price on shares of Spyre Therapeutics from $47.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Wells Fargo & Company raised their target price on shares of Spyre Therapeutics from $50.00 to $90.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 14th. BTIG Research raised their target price on shares of Spyre Therapeutics from $70.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Finally, Leerink Partners raised their target price on shares of Spyre Therapeutics from $49.00 to $106.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $91.33.

Hedge Funds Weigh In On Spyre Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. RTW Investments LP boosted its holdings in shares of Spyre Therapeutics by 15.2% in the 4th quarter. RTW Investments LP now owns 4,171,996 shares of the company’s stock valued at $136,675,000 after purchasing an additional 550,000 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Spyre Therapeutics by 32.3% in the 4th quarter. Vanguard Group Inc. now owns 4,035,074 shares of the company’s stock valued at $132,189,000 after purchasing an additional 984,344 shares during the last quarter. Perceptive Advisors LLC boosted its holdings in shares of Spyre Therapeutics by 23.3% in the 1st quarter. Perceptive Advisors LLC now owns 3,783,225 shares of the company’s stock valued at $190,826,000 after purchasing an additional 714,000 shares during the last quarter. Capital International Investors boosted its holdings in shares of Spyre Therapeutics by 46.0% in the 4th quarter. Capital International Investors now owns 3,492,541 shares of the company’s stock valued at $114,416,000 after purchasing an additional 1,100,000 shares during the last quarter. Finally, Commodore Capital LP boosted its holdings in shares of Spyre Therapeutics by 20.1% in the 4th quarter. Commodore Capital LP now owns 2,388,245 shares of the company’s stock valued at $78,239,000 after purchasing an additional 400,161 shares during 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.