Spyre Therapeutics (NASDAQ:SYRE) CFO Sells 7,500 Shares of Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CFO Scott Burrows sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $91.83, for a total transaction of $688,725.00. Following the completion of the sale, the chief financial officer owned 79,762 shares in the company, valued at $7,324,544.46. The trade was a 8.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Spyre Therapeutics Trading Up 3.6%

SYRE traded up $3.26 during trading hours on Friday, hitting $93.19. The company’s stock had a trading volume of 1,235,015 shares, compared to its average volume of 1,229,962. The company has a 50-day simple moving average of $95.71 and a 200 day simple moving average of $81.43. The firm has a market capitalization of $8.20 billion, a PE ratio of -47.79 and a beta of 3.10. Spyre Therapeutics, Inc. has a fifty-two week low of $15.86 and a fifty-two week high of $110.18.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.40. Research analysts expect that Spyre Therapeutics, Inc. will post -2.71 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SYRE. Wedbush reaffirmed an “outperform” rating and issued a $123.00 price target on shares of Spyre Therapeutics in a research note on Wednesday, September 9th. BTIG Research reissued a “buy” rating and set a $121.00 target price on shares of Spyre Therapeutics in a report on Thursday. Wolfe Research downgraded Spyre Therapeutics from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, July 28th. Wall Street Zen lowered Spyre Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, August 16th. Finally, Mizuho lifted their price target on Spyre Therapeutics from $84.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $109.71.

Institutional Trading of Spyre Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Perceptive Advisors LLC grew its position in Spyre Therapeutics by 149.6% in the fourth quarter. Perceptive Advisors LLC now owns 3,069,225 shares of the company’s stock worth $100,548,000 after buying an additional 1,839,780 shares during the last quarter. Capital International Investors lifted its position in shares of Spyre Therapeutics by 46.0% during the 4th quarter. Capital International Investors now owns 3,492,541 shares of the company’s stock valued at $114,416,000 after acquiring an additional 1,100,000 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Spyre Therapeutics by 192.6% during the 1st quarter. Bank of America Corp DE now owns 1,228,093 shares of the company’s stock worth $61,945,000 after acquiring an additional 808,366 shares in the last quarter. Commodore Capital LP boosted its stake in shares of Spyre Therapeutics by 20.1% during the 4th quarter. Commodore Capital LP now owns 2,388,245 shares of the company’s stock worth $78,239,000 after acquiring an additional 400,161 shares in the last quarter. Finally, ADAR1 Capital Management LLC grew its holdings in shares of Spyre Therapeutics by 893.6% in the 1st quarter. ADAR1 Capital Management LLC now owns 338,323 shares of the company’s stock worth $17,065,000 after acquiring an additional 304,272 shares during the last quarter. 80.39% of the stock is owned by institutional investors and hedge funds.

Spyre Therapeutics Company Profile

Spyre Therapeutics, Inc is a clinical-stage biotechnology company focused on developing antibody therapeutics for inflammatory bowel disease (IBD), including ulcerative colitis and Crohn’s disease. The company is working to create next-generation biologic medicines intended to address significant treatment needs in these chronic gastrointestinal conditions.

Spyre’s pipeline includes programs directed at validated inflammatory pathways, including interleukin-23 (IL-23) and tumor necrosis factor-like ligand 1A (TL1A).