Insider Selling: Spyre Therapeutics (NASDAQ:SYRE) CEO Sells 15,000 Shares of Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CEO Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $32.80, for a total transaction of $492,000.00. Following the completion of the transaction, the chief executive officer owned 657,540 shares in the company, valued at approximately $21,567,312. This trade represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, January 2nd, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The stock was sold at an average price of $30.68, for a total transaction of $460,200.00.
• 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.

Spyre Therapeutics Stock Down 3.7%

NASDAQ SYRE traded down $1.22 during mid-day trading on Wednesday, hitting $32.07. The stock had a trading volume of 408,602 shares, compared to its average volume of 529,962. The company has a 50 day simple moving average of $32.52 and a 200 day simple moving average of $23.76. The company has a market cap of $2.49 billion, a price-to-earnings ratio of -14.64 and a beta of 3.15. Spyre Therapeutics, Inc. has a 52-week low of $10.91 and a 52-week high of $35.31.

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

Institutional Investors Weigh In On Spyre Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Spyre Therapeutics by 18.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,018 shares of the company’s stock worth $442,000 after purchasing an additional 4,277 shares during the period. CWM LLC grew its stake in 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 buying an additional 1,338 shares during the period. TD Asset Management Inc raised its stake in shares of Spyre Therapeutics by 409.5% in the 2nd quarter. TD Asset Management Inc now owns 113,968 shares of the company’s stock valued at $1,706,000 after acquiring an additional 91,600 shares during the period. AlphaQuest LLC lifted its holdings in shares of Spyre Therapeutics by 30.8% during the 2nd quarter. AlphaQuest LLC now owns 4,174 shares of the company’s stock valued at $62,000 after acquiring an additional 983 shares in the last quarter. Finally, Emerald Advisers LLC boosted its position in Spyre Therapeutics by 3.3% during the 2nd quarter. Emerald Advisers LLC now owns 565,863 shares of the company’s stock worth $8,471,000 after purchasing an additional 18,036 shares during the period. 80.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SYRE shares. Jones Trading upgraded Spyre Therapeutics from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Monday, December 1st. BTIG Research reiterated a “buy” rating and set a $70.00 price objective on shares of Spyre Therapeutics in a research report on Friday, January 16th. Mizuho upgraded shares of Spyre Therapeutics to a “strong-buy” rating in a report on Thursday, December 18th. Citigroup began coverage on shares of Spyre Therapeutics in a research report on Wednesday, December 17th. They issued a “buy” rating and a $64.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Spyre Therapeutics in a research note on Monday, December 29th. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Spyre Therapeutics presently has an average rating of “Buy” and an average 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.