Cameron Turtle Sells 45,000 Shares of Spyre Therapeutics (NASDAQ:SYRE) Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CEO Cameron Turtle sold 45,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $23.33, for a total value of $1,049,850.00. Following the transaction, the chief executive officer owned 701,907 shares in the company, valued at $16,375,490.31. The trade was a 6.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Spyre Therapeutics Stock Down 2.0%

Spyre Therapeutics stock opened at $22.39 on Friday. The company has a market capitalization of $1.35 billion, a PE ratio of -6.59 and a beta of 2.99. Spyre Therapeutics, Inc. has a 12-month low of $10.91 and a 12-month high of $40.26. The firm’s fifty day moving average is $18.89 and its 200 day moving average is $16.86.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.53. Sell-side analysts expect that Spyre Therapeutics, Inc. will post -4.46 EPS for the current fiscal year.

Analysts Set New Price Targets

SYRE has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft started coverage on Spyre Therapeutics in a research report on Friday, September 26th. They issued a “buy” rating and a $43.00 target price for the company. Wedbush reaffirmed an “outperform” rating and set a $65.00 target price on shares of Spyre Therapeutics in a research report on Wednesday, August 6th. BTIG Research reiterated a “buy” rating and issued a $70.00 target price on shares of Spyre Therapeutics in a report on Tuesday, September 16th. Wall Street Zen upgraded shares of Spyre Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Spyre Therapeutics in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Spyre Therapeutics currently has an average rating of “Buy” and a consensus target price of $52.50.

Hedge Funds Weigh In On Spyre Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. CWM LLC grew its stake in shares of Spyre Therapeutics by 357.8% during the 2nd 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 boosted its position in Spyre Therapeutics by 45.2% during the first quarter. AlphaQuest LLC now owns 3,191 shares of the company’s stock worth $51,000 after purchasing an additional 993 shares during the period. Ameritas Investment Partners Inc. increased its stake in shares of Spyre Therapeutics by 25.8% in the second quarter. Ameritas Investment Partners Inc. now owns 5,091 shares of the company’s stock worth $76,000 after purchasing an additional 1,045 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Spyre Therapeutics by 182.2% in the second quarter. Tower Research Capital LLC TRC now owns 5,769 shares of the company’s stock worth $86,000 after purchasing an additional 3,725 shares in the last quarter. Finally, Man Group plc bought a new stake in shares of Spyre Therapeutics in the second quarter valued at approximately $162,000. Institutional investors own 80.39% of the company’s stock.

About Spyre Therapeutics

Spyre Therapeutics, Inc, a preclinical stage biotechnology company, focuses on developing therapeutics for patients living with inflammatory bowel disease (IBD). It develops SPY001, a human monoclonal immunoglobulin G1 antibody designed to bind selectively to the a4ß7 integrin being developed for the treatment of IBD (ulcerative colitis and Crohn's disease).