Spyre Therapeutics (NASDAQ:SYRE) CEO Sells $435,300.00 in Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CEO Cameron Turtle sold 15,000 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $29.02, for a total transaction of $435,300.00. Following the completion of the transaction, the chief executive officer directly owned 686,907 shares of the company’s stock, valued at approximately $19,934,041.14. This represents a 2.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Monday, November 3rd, Cameron Turtle sold 45,000 shares of Spyre Therapeutics stock. The shares were sold at an average price of $23.33, for a total transaction of $1,049,850.00.

Spyre Therapeutics Trading Up 13.4%

Shares of Spyre Therapeutics stock traded up $3.80 during midday trading on Wednesday, reaching $32.20. The company had a trading volume of 1,313,359 shares, compared to its average volume of 681,008. The stock has a fifty day simple moving average of $22.65 and a 200 day simple moving average of $18.42. Spyre Therapeutics, Inc. has a 1-year low of $10.91 and a 1-year high of $32.26. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of -14.70 and a beta of 3.14.

Spyre Therapeutics (NASDAQ:SYRE) last released its earnings results on Tuesday, November 4th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.53. Sell-side analysts expect that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current year.

Analyst Ratings Changes

SYRE has been the subject of several recent research reports. BTIG Research reissued a “buy” rating and set a $70.00 price objective on shares of Spyre Therapeutics in a report on Tuesday, September 16th. Jones Trading upgraded shares of Spyre Therapeutics from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Spyre Therapeutics in a report on Tuesday, November 25th. Wall Street Zen upgraded shares of Spyre Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Finally, Wedbush restated an “outperform” rating and issued a $65.00 price target on shares of Spyre Therapeutics in a research report on Wednesday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $52.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SYRE. CWM LLC raised its holdings in shares of Spyre Therapeutics by 357.8% during the second quarter. CWM LLC now owns 1,712 shares of the company’s stock worth $26,000 after acquiring an additional 1,338 shares during the period. AlphaQuest LLC increased its holdings in Spyre Therapeutics by 45.2% during the 1st quarter. AlphaQuest LLC now owns 3,191 shares of the company’s stock worth $51,000 after purchasing an additional 993 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Spyre Therapeutics by 2,881.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company’s stock valued at $71,000 after purchasing an additional 4,092 shares during the period. Ameritas Investment Partners Inc. raised its stake in shares of Spyre Therapeutics by 25.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,091 shares of the company’s stock valued at $76,000 after purchasing an additional 1,045 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Spyre Therapeutics by 182.2% in the second quarter. Tower Research Capital LLC TRC now owns 5,769 shares of the company’s stock valued at $86,000 after purchasing an additional 3,725 shares in the last quarter. Institutional investors and hedge funds own 80.39% of the company’s stock.

About Spyre Therapeutics

Spyre Therapeutics, Inc, a preclinical stage biotechnology company, focuses on developing therapeutics for patients living with inflammatory bowel disease (IBD). It develops SPY001, a human monoclonal immunoglobulin G1 antibody designed to bind selectively to the a4ß7 integrin being developed for the treatment of IBD (ulcerative colitis and Crohn's disease).