Spyre Therapeutics (NASDAQ:SYRE) CFO Sells $1,573,075.00 in Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CFO Scott Burrows sold 17,500 shares of the business’s stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $89.89, for a total transaction of $1,573,075.00. Following the transaction, the chief financial officer owned 79,762 shares in the company, valued at $7,169,806.18. This trade represents a 17.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Spyre Therapeutics Price Performance

Shares of NASDAQ:SYRE traded up $3.26 during trading hours on Friday, hitting $93.19. 1,235,015 shares of the company’s stock traded hands, compared to its average volume of 1,229,962. The firm has a market capitalization of $8.20 billion, a P/E ratio of -47.79 and a beta of 3.10. The business has a fifty day moving average price of $95.71 and a 200-day moving average price of $81.43. Spyre Therapeutics, Inc. has a 1 year low of $15.86 and a 1 year high of $110.18.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.40. As a group, equities analysts predict that Spyre Therapeutics, Inc. will post -2.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SYRE. Wells Fargo & Company lifted their target price on Spyre Therapeutics from $90.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Robert W. Baird set a $120.00 price target on shares of Spyre Therapeutics in a research note on Wednesday, August 5th. JPMorgan Chase & Co. began coverage on shares of Spyre Therapeutics in a report on Thursday. They set an “overweight” rating and a $110.00 price objective for the company. Mizuho boosted their price objective on shares of Spyre Therapeutics from $84.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Finally, Wedbush restated an “outperform” rating and issued a $123.00 target price on shares of Spyre Therapeutics in a research note on Wednesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Spyre Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $109.71.

Institutional Investors Weigh In On Spyre Therapeutics

Several hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC bought a new position in shares of Spyre Therapeutics during the second quarter valued at approximately $31,000. Summit Securities Group LLC bought a new position in Spyre Therapeutics in the first quarter worth approximately $28,000. GAMMA Investing LLC lifted its holdings in Spyre Therapeutics by 26.8% during the second quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock worth $59,000 after buying an additional 140 shares during the period. KBC Group NV purchased a new stake in Spyre Therapeutics during the first quarter worth $69,000. Finally, Nykredit A S bought a new stake in Spyre Therapeutics during the 2nd quarter valued at $173,000. Hedge funds and other institutional investors own 80.39% of the company’s stock.

About Spyre Therapeutics

Spyre Therapeutics, Inc is a clinical-stage biotechnology company focused on developing antibody therapeutics for inflammatory bowel disease (IBD), including ulcerative colitis and Crohn’s disease. The company is working to create next-generation biologic medicines intended to address significant treatment needs in these chronic gastrointestinal conditions.

Spyre’s pipeline includes programs directed at validated inflammatory pathways, including interleukin-23 (IL-23) and tumor necrosis factor-like ligand 1A (TL1A).