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 Wednesday, April 1st. The shares were sold at an average price of $49.33, for a total value of $739,950.00. Following the transaction, the chief executive officer directly owned 627,540 shares of the company’s stock, valued at approximately $30,956,548.20. This trade represents a 2.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, March 2nd, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The shares were sold at an average price of $42.19, for a total value of $632,850.00.
• On Monday, February 2nd, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The shares were sold at an average price of $32.80, for a total value of $492,000.00.

Spyre Therapeutics Stock Up 2.9%

SYRE stock opened at $48.98 on Tuesday. Spyre Therapeutics, Inc. has a twelve month low of $10.91 and a twelve month high of $51.06. The firm has a market cap of $3.85 billion, a PE ratio of -23.55 and a beta of 2.93. The business has a 50 day moving average of $40.34 and a 200 day moving average of $31.40.

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

Institutional Trading of Spyre Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of SYRE. Perceptive Advisors LLC increased its holdings in shares of Spyre Therapeutics by 149.6% in the 4th quarter. Perceptive Advisors LLC now owns 3,069,225 shares of the company’s stock worth $100,548,000 after purchasing an additional 1,839,780 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Spyre Therapeutics by 13,969.3% in the fourth quarter. Janus Henderson Group PLC now owns 1,829,009 shares of the company’s stock worth $59,918,000 after acquiring an additional 1,816,009 shares during the period. RA Capital Management L.P. bought a new stake in shares of Spyre Therapeutics in the fourth quarter worth $53,124,000. Remedium Capital Partners LLC bought a new stake in shares of Spyre Therapeutics in the fourth quarter worth $47,706,000. Finally, TCG Crossover Management LLC bought a new stake in shares of Spyre Therapeutics in the third quarter worth $18,446,000. Institutional investors own 80.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SYRE. Wall Street Zen lowered Spyre Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Mizuho raised Spyre Therapeutics to a “strong-buy” rating in a report on Thursday, December 18th. BTIG Research reissued a “buy” rating and issued a $70.00 target price on shares of Spyre Therapeutics in a report on Tuesday, March 31st. Weiss Ratings reissued a “sell (e+)” rating on shares of Spyre Therapeutics in a report on Monday, December 29th. Finally, Wells Fargo & Company lifted their target price on Spyre Therapeutics from $40.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus 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.