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

Spyre Therapeutics, Inc. (NASDAQ:SYRE) insider Sheldon Sloan sold 8,333 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $75.00, for a total transaction of $624,975.00. Following the transaction, the insider directly owned 8,333 shares of the company’s stock, valued at approximately $624,975. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $50.00, for a total transaction of $397,900.00.

Spyre Therapeutics Stock Up 6.3%

SYRE stock opened at $73.52 on Thursday. The stock has a market capitalization of $6.38 billion, a P/E ratio of -35.35 and a beta of 3.05. The firm has a 50-day simple moving average of $65.34 and a 200-day simple moving average of $45.34. Spyre Therapeutics, Inc. has a 52 week low of $13.93 and a 52 week high of $78.80.

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

Institutional Trading of Spyre Therapeutics

Several large investors have recently bought and sold shares of SYRE. Summit Securities Group LLC purchased a new stake in Spyre Therapeutics during the 1st quarter valued at about $28,000. KBC Group NV purchased a new stake in shares of Spyre Therapeutics in the 1st quarter valued at approximately $69,000. Russell Investments Group Ltd. grew its stake 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 valued at $71,000 after buying an additional 4,092 shares during the period. Persistent Asset Partners Ltd purchased a new stake in shares of Spyre Therapeutics in the 4th quarter valued at approximately $74,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Spyre Therapeutics by 182.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,769 shares of the company’s stock valued at $86,000 after buying an additional 3,725 shares during the period. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on SYRE shares. Citigroup boosted their target price on shares of Spyre Therapeutics from $64.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. JonesTrading boosted their target price on shares of Spyre Therapeutics from $64.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. 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 research note on Monday, April 13th. Jefferies Financial Group boosted their target price on shares of Spyre Therapeutics from $47.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $115.00 price objective on shares of Spyre Therapeutics in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $91.33.

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.