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

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CFO Scott Burrows sold 7,500 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $71.06, for a total transaction of $532,950.00. Following the sale, the chief financial officer owned 97,994 shares in the company, valued at approximately $6,963,453.64. This trade represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Spyre Therapeutics Stock Up 6.7%

Shares of SYRE stock opened at $78.48 on Friday. The firm has a 50 day moving average of $66.06 and a two-hundred day moving average of $45.72. The stock has a market capitalization of $6.82 billion, a PE ratio of -37.73 and a beta of 3.05. Spyre Therapeutics, Inc. has a 52 week low of $13.93 and a 52 week high of $79.54.

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

Analyst Ratings Changes

SYRE has been the topic of a number of analyst reports. BTIG Research increased their price target on Spyre Therapeutics from $70.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Wells Fargo & Company upped their target price on shares of Spyre Therapeutics from $50.00 to $90.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Spyre Therapeutics from $102.00 to $115.00 and gave the company a “buy” rating in a report on Thursday. JonesTrading lifted their price target 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. Finally, Jefferies Financial Group boosted their price target on shares of Spyre Therapeutics from $47.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $91.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SYRE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Spyre Therapeutics by 18.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,018 shares of the company’s stock valued at $442,000 after acquiring an additional 4,277 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Spyre Therapeutics by 13.8% during the second quarter. JPMorgan Chase & Co. now owns 47,279 shares of the company’s stock worth $708,000 after purchasing an additional 5,723 shares during the last quarter. Rhumbline Advisers boosted its holdings in Spyre Therapeutics by 30.6% in the second quarter. Rhumbline Advisers now owns 73,168 shares of the company’s stock valued at $1,095,000 after purchasing an additional 17,145 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in Spyre Therapeutics by 61.4% in the second quarter. New York State Common Retirement Fund now owns 16,565 shares of the company’s stock valued at $248,000 after purchasing an additional 6,300 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Spyre Therapeutics by 37.6% in the second quarter. Invesco Ltd. now owns 34,680 shares of the company’s stock valued at $519,000 after purchasing an additional 9,473 shares during the last quarter. 80.39% of the stock is owned by institutional investors and hedge funds.

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.