Spyre Therapeutics (NASDAQ:SYRE) CFO Sells $1,306,950.00 in Stock

by · The Markets Daily

Spyre Therapeutics, Inc. (NASDAQ:SYRE – Get Free Report) CFO Scott Burrows sold 15,000 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer directly owned 97,994 shares in the company, valued at approximately $8,538,217.22. The trade was a 13.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Spyre Therapeutics Price Performance

NASDAQ SYRE traded down $0.78 during trading hours on Friday, hitting $87.89. The company’s stock had a trading volume of 4,424,025 shares, compared to its average volume of 1,550,860. Spyre Therapeutics, Inc. has a 12 month low of $14.00 and a 12 month high of $102.06. The company’s 50 day simple moving average is $76.42 and its two-hundred day simple moving average is $51.89. The company has a market cap of $7.63 billion, a P/E ratio of -42.25 and a beta of 3.05.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Summit Securities Group LLC purchased a new position in shares of Spyre Therapeutics in the 1st quarter worth $28,000. KBC Group NV bought a new position in shares of Spyre Therapeutics in the 1st quarter valued at about $69,000. Russell Investments Group Ltd. grew its position in Spyre Therapeutics by 2,881.7% in the third quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company’s stock worth $71,000 after acquiring an additional 4,092 shares in the last quarter. Persistent Asset Partners Ltd purchased a new position in Spyre Therapeutics in the fourth quarter worth about $74,000. Finally, Tower Research Capital LLC TRC increased its stake in Spyre Therapeutics by 182.2% during the second quarter. Tower Research Capital LLC TRC now owns 5,769 shares of the company’s stock worth $86,000 after acquiring an additional 3,725 shares during the last quarter. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SYRE shares. Leerink Partners upped their price objective on Spyre Therapeutics from $49.00 to $106.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Stifel Nicolaus boosted their price objective on shares of Spyre Therapeutics from $92.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Wall Street Zen cut Spyre Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Deutsche Bank Aktiengesellschaft lifted their target price on Spyre Therapeutics from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Raymond James Financial started coverage on Spyre Therapeutics in a research report on Monday, April 13th. They issued a “strong-buy” rating and a $80.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Spyre Therapeutics currently has an average rating of “Buy” and a consensus target price of $95.83.

Read Our Latest Report on SYRE

Spyre Therapeutics Company Profile

(Get Free Report)

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.

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