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

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CFO Scott Burrows sold 7,500 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $95.57, for a total transaction of $716,775.00. Following the completion of the transaction, the chief financial officer owned 97,994 shares in the company, valued at approximately $9,365,286.58. 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 Price Performance

Spyre Therapeutics stock traded down $0.59 during trading hours on Wednesday, hitting $104.35. The company had a trading volume of 1,037,381 shares, compared to its average volume of 1,066,070. The firm has a 50-day moving average of $89.91 and a 200 day moving average of $64.66. The firm has a market cap of $9.18 billion, a PE ratio of -53.51 and a beta of 3.03. Spyre Therapeutics, Inc. has a one year low of $14.51 and a one year high of $108.14.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.40. As a group, research analysts expect that Spyre Therapeutics, Inc. will post -2.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

SYRE has been the topic of several recent research reports. BTIG Research increased their price objective on Spyre Therapeutics from $98.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Wells Fargo & Company upped their price target on shares of Spyre Therapeutics from $90.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday. Citigroup raised their price target on shares of Spyre Therapeutics from $64.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Leerink Partners lifted their price objective on shares of Spyre Therapeutics from $49.00 to $106.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Finally, Wolfe Research lowered shares of Spyre Therapeutics from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Spyre Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $110.15.

Institutional Trading of Spyre Therapeutics

A number of institutional investors have recently modified their holdings of the stock. Handelsbanken Fonder AB acquired a new stake in shares of Spyre Therapeutics during the 2nd quarter worth $2,308,000. GAMMA Investing LLC raised its stake in Spyre Therapeutics by 26.8% in the second quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock valued at $59,000 after purchasing an additional 140 shares in the last quarter. Seven Fleet Capital Management LP bought a new stake in Spyre Therapeutics during the first quarter worth about $993,000. Perceptive Advisors LLC lifted its position in Spyre Therapeutics by 23.3% during the first quarter. Perceptive Advisors LLC now owns 3,783,225 shares of the company’s stock worth $190,826,000 after purchasing an additional 714,000 shares during the period. Finally, Bank of America Corp DE grew its stake in Spyre Therapeutics by 192.6% during the first quarter. Bank of America Corp DE now owns 1,228,093 shares of the company’s stock worth $61,945,000 after buying an additional 808,366 shares in the last quarter. 80.39% of the stock is currently owned by institutional investors.

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.