Spyre Therapeutics (NASDAQ:SYRE) CFO Scott Burrows Sells 15,000 Shares of Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CFO Scott Burrows sold 15,000 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $87.13, for a total value of $1,306,950.00. Following the completion of the sale, the chief financial officer directly owned 97,994 shares of the company’s stock, valued at approximately $8,538,217.22. This trade represents a 13.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Spyre Therapeutics Price Performance

SYRE opened at $87.89 on Friday. The stock’s 50 day simple moving average is $76.42 and its 200 day simple moving average is $51.89. Spyre Therapeutics, Inc. has a 1 year low of $14.00 and a 1 year high of $102.06. The firm has a market cap of $7.63 billion, a price-to-earnings ratio of -42.25 and a beta of 3.05.

Spyre Therapeutics (NASDAQ:SYRE) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.08). As a group, sell-side analysts anticipate that Spyre Therapeutics, Inc. will post -2.86 EPS for the current year.

Hedge Funds Weigh In On Spyre Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Optimize Financial Inc increased its position in Spyre Therapeutics by 1.5% during the 4th quarter. Optimize Financial Inc now owns 25,331 shares of the company’s stock valued at $830,000 after purchasing an additional 364 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in Spyre Therapeutics by 0.5% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 106,664 shares of the company’s stock worth $1,788,000 after purchasing an additional 522 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of Spyre Therapeutics in the 1st quarter worth about $28,000. California State Teachers Retirement System boosted its stake in shares of Spyre Therapeutics by 1.8% during the 2nd quarter. California State Teachers Retirement System now owns 33,201 shares of the company’s stock valued at $497,000 after purchasing an additional 603 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Spyre Therapeutics by 4.5% during the 4th quarter. AQR Capital Management LLC now owns 17,820 shares of the company’s stock valued at $584,000 after purchasing an additional 773 shares in the last quarter. Institutional investors own 80.39% of the company’s stock.

Analysts Set New Price Targets

SYRE has been the subject of a number of recent analyst reports. Leerink Partners upped their price target on shares of Spyre Therapeutics from $49.00 to $106.00 and gave the company an “outperform” rating in a report on Monday, April 13th. Wedbush reissued an “outperform” rating and issued a $100.00 price target on shares of Spyre Therapeutics in a report on Tuesday, June 16th. JonesTrading boosted their price objective on shares of Spyre Therapeutics from $64.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Wells Fargo & Company upped their price objective on shares of Spyre Therapeutics from $50.00 to $90.00 and gave the company an “overweight” rating in a research note on Tuesday, April 14th. Finally, Raymond James Financial started coverage on shares of Spyre Therapeutics in a report on Monday, April 13th. They set a “strong-buy” rating and a $80.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $95.83.

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.