Sheldon Sloan Sells 8,333 Shares of Spyre Therapeutics (NASDAQ:SYRE) Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) insider Sheldon Sloan sold 8,333 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $75.00, for a total transaction of $624,975.00. Following the sale, the insider owned 8,333 shares in the company, valued at $624,975. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Sheldon Sloan also recently made the following trade(s):

• On Friday, May 1st, Sheldon Sloan sold 78,333 shares of Spyre Therapeutics stock. The shares were sold at an average price of $71.50, for a total transaction of $5,600,809.50.
• On Wednesday, April 1st, Sheldon Sloan sold 7,958 shares of Spyre Therapeutics stock. The shares were sold at an average price of $50.00, for a total transaction of $397,900.00.

Spyre Therapeutics Price Performance

Shares of NASDAQ:SYRE opened at $78.48 on Friday. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of -37.73 and a beta of 3.05. Spyre Therapeutics, Inc. has a 12 month low of $13.93 and a 12 month high of $79.54. The stock’s 50 day moving average price is $66.06 and its 200 day moving average price is $45.72.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.08). On average, sell-side analysts expect that Spyre Therapeutics, Inc. will post -2.79 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on SYRE. Wedbush lifted their target price on Spyre Therapeutics from $65.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Spyre Therapeutics from $102.00 to $115.00 and gave the company a “buy” rating in a report on Thursday. Wall Street Zen lowered shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Leerink Partners boosted their target price on shares of Spyre Therapeutics from $49.00 to $106.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Finally, Stifel Nicolaus increased their target price on shares of Spyre Therapeutics from $92.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $91.33.

Institutional Trading of Spyre Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. HighVista Strategies LLC lifted its stake in Spyre Therapeutics by 91.3% in 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 in the last quarter. Candriam S.C.A. increased its holdings in shares of Spyre Therapeutics by 64.4% in the 3rd quarter. Candriam S.C.A. now owns 404,362 shares of the company’s stock valued at $6,777,000 after purchasing an additional 158,332 shares during the period. Baker BROS. Advisors LP increased its holdings in shares of Spyre Therapeutics by 59.6% in the 3rd quarter. Baker BROS. Advisors LP now owns 1,000,000 shares of the company’s stock valued at $16,760,000 after purchasing an additional 373,297 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Spyre Therapeutics by 483.7% in the third quarter. JPMorgan Chase & Co. now owns 275,984 shares of the company’s stock worth $4,625,000 after purchasing an additional 228,705 shares in the last quarter. Finally, UBS Group AG boosted its holdings in shares of Spyre Therapeutics by 76.5% during the fourth quarter. UBS Group AG now owns 680,566 shares of the company’s stock worth $22,295,000 after purchasing an additional 294,977 shares during the period. Institutional investors and hedge funds own 80.39% of the company’s stock.

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.