Scott Burrows Sells 7,500 Shares of Spyre Therapeutics (NASDAQ:SYRE) Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CFO Scott Burrows sold 7,500 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $49.34, for a total transaction of $370,050.00. Following the completion of the transaction, the chief financial officer owned 97,994 shares in the company, valued at approximately $4,835,023.96. This trade represents a 7.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Spyre Therapeutics Stock Performance

Spyre Therapeutics stock remained flat at $47.58 during trading hours on Friday. 438,025 shares of the company’s stock traded hands, compared to its average volume of 829,300. The business’s 50 day moving average is $40.00 and its 200-day moving average is $30.94. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of -22.88 and a beta of 2.93. Spyre Therapeutics, Inc. has a 52-week low of $10.91 and a 52-week high of $51.06.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings data 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). Equities analysts expect that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on SYRE. Wall Street Zen downgraded Spyre Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. BTIG Research reissued a “buy” rating and set a $70.00 target price on shares of Spyre Therapeutics in a report on Tuesday. Citigroup started coverage on Spyre Therapeutics in a report on Wednesday, December 17th. They set a “buy” rating and a $64.00 target price for the company. Mizuho upgraded shares of Spyre Therapeutics to a “strong-buy” rating in a research note on Thursday, December 18th. Finally, Wells Fargo & Company raised their price target on shares of Spyre Therapeutics from $40.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, February 20th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $60.67.

Hedge Funds Weigh In On Spyre Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Affinity Asset Advisors LLC increased its holdings in Spyre Therapeutics by 26.0% in the 2nd quarter. Affinity Asset Advisors LLC now owns 606,678 shares of the company’s stock valued at $9,082,000 after buying an additional 125,000 shares during the period. HighVista Strategies LLC lifted its holdings in shares of Spyre Therapeutics by 91.3% during the 3rd quarter. HighVista Strategies LLC now owns 215,746 shares of the company’s stock worth $3,616,000 after acquiring an additional 102,941 shares during the period. AlphaQuest LLC lifted its holdings in shares of Spyre Therapeutics by 1,485.1% during the 3rd quarter. AlphaQuest LLC now owns 66,163 shares of the company’s stock worth $1,109,000 after acquiring an additional 61,989 shares during the period. Candriam S.C.A. boosted its position in shares of Spyre Therapeutics by 64.4% during the 3rd quarter. Candriam S.C.A. now owns 404,362 shares of the company’s stock worth $6,777,000 after acquiring an additional 158,332 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Spyre Therapeutics in the third quarter valued at approximately $310,000. Institutional investors own 80.39% of the company’s stock.

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.