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 on Friday, January 2nd. The stock was sold at an average price of $30.68, for a total value of $460,200.00. Following the sale, the chief executive officer owned 671,907 shares in the company, valued at $20,614,106.76. This trade represents a 2.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, December 1st, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The stock was sold at an average price of $29.02, for a total value of $435,300.00.
• On Monday, November 3rd, Cameron Turtle sold 45,000 shares of Spyre Therapeutics stock. The stock was sold at an average price of $23.33, for a total value of $1,049,850.00.

Spyre Therapeutics Trading Up 1.2%

Shares of NASDAQ:SYRE opened at $30.33 on Wednesday. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of -13.85 and a beta of 3.17. The stock’s 50-day moving average price is $28.99 and its two-hundred day moving average price is $21.32. Spyre Therapeutics, Inc. has a 12-month low of $10.91 and a 12-month high of $35.31.

Spyre Therapeutics (NASDAQ:SYRE) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.53. As a group, research analysts forecast that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Spyre Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of SYRE. TCG Crossover Management LLC purchased a new position in shares of Spyre Therapeutics in the third quarter valued at $18,446,000. Millennium Management LLC acquired a new position in Spyre Therapeutics in the 3rd quarter worth $6,841,000. Baker BROS. Advisors LP boosted its position in Spyre Therapeutics by 59.6% in the 3rd quarter. Baker BROS. Advisors LP now owns 1,000,000 shares of the company’s stock valued at $16,760,000 after buying an additional 373,297 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Spyre Therapeutics by 483.7% during the third quarter. JPMorgan Chase & Co. now owns 275,984 shares of the company’s stock valued at $4,625,000 after acquiring an additional 228,705 shares in the last quarter. Finally, Parkman Healthcare Partners LLC purchased a new stake in shares of Spyre Therapeutics during the third quarter worth about $3,365,000. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SYRE shares. Mizuho upgraded shares of Spyre Therapeutics to a “strong-buy” rating in a report on Thursday, December 18th. Wall Street Zen raised Spyre Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. BTIG Research reissued a “buy” rating and set a $70.00 price target on shares of Spyre Therapeutics in a research report on Tuesday, September 16th. Jones Trading upgraded Spyre Therapeutics from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Monday, December 1st. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Spyre Therapeutics in a report on Friday, September 26th. They issued a “buy” rating and a $43.00 price objective on the stock. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Spyre Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $53.88.

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.