Spyre Therapeutics (NASDAQ:SYRE) CEO Cameron Turtle Sells 15,000 Shares of Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CEO Cameron Turtle sold 15,000 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $42.19, for a total value of $632,850.00. Following the completion of the sale, the chief executive officer owned 642,540 shares of the company’s stock, valued at approximately $27,108,762.60. This trade represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, February 2nd, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The shares were sold at an average price of $32.80, for a total transaction of $492,000.00.
• On Friday, January 2nd, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The shares were sold at an average price of $30.68, for a total transaction of $460,200.00.

Spyre Therapeutics Trading Down 5.7%

NASDAQ:SYRE opened at $40.07 on Wednesday. The company has a market cap of $3.15 billion, a PE ratio of -19.26 and a beta of 3.09. Spyre Therapeutics, Inc. has a twelve month low of $10.91 and a twelve month high of $45.76. The company’s 50 day moving average is $34.73 and its two-hundred day moving average is $26.74.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.04). As a group, analysts expect that Spyre Therapeutics, Inc. will post -4.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SYRE. RTW Investments LP grew its stake in shares of Spyre Therapeutics by 15.2% during the 4th quarter. RTW Investments LP now owns 4,171,996 shares of the company’s stock worth $136,675,000 after purchasing an additional 550,000 shares during the period. Vanguard Group Inc. increased its holdings in Spyre Therapeutics by 32.3% in the fourth quarter. Vanguard Group Inc. now owns 4,035,074 shares of the company’s stock valued at $132,189,000 after buying an additional 984,344 shares in the last quarter. Capital International Investors raised its position in shares of Spyre Therapeutics by 46.0% in the fourth quarter. Capital International Investors now owns 3,492,541 shares of the company’s stock worth $114,416,000 after acquiring an additional 1,100,000 shares during the period. Perceptive Advisors LLC boosted its stake in shares of Spyre Therapeutics by 149.6% during the 4th quarter. Perceptive Advisors LLC now owns 3,069,225 shares of the company’s stock worth $100,548,000 after acquiring an additional 1,839,780 shares in the last quarter. Finally, Commodore Capital LP grew its position 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 valued at $78,239,000 after acquiring an additional 400,161 shares during the period. 80.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SYRE has been the topic of several research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Spyre Therapeutics in a research note on Monday, December 29th. Citigroup assumed coverage on Spyre Therapeutics in a research report on Wednesday, December 17th. They issued a “buy” rating and a $64.00 target price on the stock. Leerink Partners raised shares of Spyre Therapeutics to a “strong-buy” rating in a research report on Thursday, February 19th. JonesTrading upgraded shares of Spyre Therapeutics from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Monday, December 1st. Finally, Mizuho upgraded shares of Spyre Therapeutics to a “strong-buy” rating in a research note on Thursday, December 18th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Spyre Therapeutics currently has a consensus rating of “Buy” and an average price target of $53.44.

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.