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 Spyre Therapeutics stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $87.69, for a total value of $1,315,350.00. Following the transaction, the chief executive officer owned 582,540 shares in the company, valued at approximately $51,082,932.60. This represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, June 1st, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The stock was sold at an average price of $70.43, for a total value of $1,056,450.00.
• On Friday, May 1st, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The shares were sold at an average price of $71.37, for a total value of $1,070,550.00.

Spyre Therapeutics Stock Down 2.5%

Shares of SYRE traded down $2.26 on Thursday, hitting $86.63. The company’s stock had a trading volume of 973,914 shares, compared to its average volume of 1,804,648. The firm’s fifty day moving average price is $77.77 and its 200-day moving average price is $53.55. Spyre Therapeutics, Inc. has a fifty-two week low of $14.51 and a fifty-two week high of $102.06. The firm has a market capitalization of $7.62 billion, a price-to-earnings ratio of -41.65 and a beta of 3.02.

Spyre Therapeutics (NASDAQ:SYRE) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.08). As a group, equities analysts predict that Spyre Therapeutics, Inc. will post -2.86 earnings per share for the current fiscal year.

Institutional Trading of Spyre Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of SYRE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Spyre Therapeutics by 18.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,018 shares of the company’s stock valued at $442,000 after purchasing an additional 4,277 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Spyre Therapeutics by 13.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 47,279 shares of the company’s stock worth $708,000 after purchasing an additional 5,723 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Spyre Therapeutics by 30.6% in the 2nd quarter. Rhumbline Advisers now owns 73,168 shares of the company’s stock valued at $1,095,000 after buying an additional 17,145 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Spyre Therapeutics by 61.4% in the 2nd quarter. New York State Common Retirement Fund now owns 16,565 shares of the company’s stock valued at $248,000 after buying an additional 6,300 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Spyre Therapeutics by 37.6% in the second quarter. Invesco Ltd. now owns 34,680 shares of the company’s stock valued at $519,000 after buying an additional 9,473 shares in the last quarter. Institutional investors own 80.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SYRE shares. Robert W. Baird increased their target price on Spyre Therapeutics from $65.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, April 14th. Wedbush reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Spyre Therapeutics in a research report on Tuesday, June 16th. Wells Fargo & Company lifted their target price on Spyre Therapeutics from $50.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft boosted their target price on Spyre Therapeutics from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Finally, BTIG Research raised their price target on shares of Spyre Therapeutics from $98.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Spyre Therapeutics currently has an average rating of “Buy” and a consensus price target of $95.83.

About Spyre Therapeutics

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.