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 the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $30.68, for a total transaction of $460,200.00. Following the transaction, the chief executive officer owned 671,907 shares of the company’s stock, valued at approximately $20,614,106.76. This represents a 2.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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.
• On Monday, November 3rd, Cameron Turtle sold 45,000 shares of Spyre Therapeutics stock. The shares were sold at an average price of $23.33, for a total value of $1,049,850.00.

Spyre Therapeutics Stock Performance

Shares of Spyre Therapeutics stock traded up $0.37 during trading on Tuesday, reaching $30.33. 752,260 shares of the company’s stock were exchanged, compared to its average volume of 756,648. Spyre Therapeutics, Inc. has a 1-year low of $10.91 and a 1-year high of $35.31. The company has a market cap of $2.35 billion, a P/E ratio of -13.85 and a beta of 3.17. The firm’s 50-day moving average price is $28.99 and its 200 day moving average price is $21.32.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.53. As a group, equities research analysts predict that Spyre Therapeutics, Inc. will post -4.46 EPS for the current year.

Hedge Funds Weigh In On Spyre Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. CWM LLC lifted its stake in shares of Spyre Therapeutics by 357.8% in the second quarter. CWM LLC now owns 1,712 shares of the company’s stock worth $26,000 after acquiring an additional 1,338 shares during the period. AlphaQuest LLC lifted its position in shares of Spyre Therapeutics by 30.8% in the 2nd quarter. AlphaQuest LLC now owns 4,174 shares of the company’s stock worth $62,000 after purchasing an additional 983 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Spyre Therapeutics by 2,881.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company’s stock worth $71,000 after purchasing an additional 4,092 shares during the period. Ameritas Investment Partners Inc. boosted its stake in shares of Spyre Therapeutics by 25.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,091 shares of the company’s stock valued at $76,000 after purchasing an additional 1,045 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Spyre Therapeutics by 182.2% during the second quarter. Tower Research Capital LLC TRC now owns 5,769 shares of the company’s stock worth $86,000 after buying an additional 3,725 shares during the period. 80.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Spyre Therapeutics in a research note on Friday, September 26th. They issued a “buy” rating and a $43.00 price objective for the company. Jones Trading raised Spyre Therapeutics from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Monday, December 1st. Mizuho upgraded Spyre Therapeutics to a “strong-buy” rating in a research report on Thursday, December 18th. BTIG Research reiterated a “buy” rating and issued a $70.00 target price on shares of Spyre Therapeutics in a research report on Tuesday, September 16th. Finally, Wall Street Zen raised Spyre Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus 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.