Spyre Therapeutics (NASDAQ:SYRE) Insider Sheldon Sloan Sells 8,334 Shares

Spyre Therapeutics, Inc. (NASDAQ:SYRE) insider Sheldon Sloan sold 8,334 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $87.70, for a total transaction of $730,891.80. Following the transaction, the insider directly owned 8,334 shares of the company’s stock, valued at $730,891.80. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Wednesday, June 3rd, Sheldon Sloan sold 8,333 shares of Spyre Therapeutics stock. The stock was sold at an average price of $75.00, for a total transaction of $624,975.00.
• On Friday, May 1st, Sheldon Sloan sold 78,333 shares of Spyre Therapeutics stock. The stock was sold at an average price of $71.50, for a total transaction of $5,600,809.50.

Spyre Therapeutics Trading Down 2.5%

Spyre Therapeutics stock opened at $86.63 on Friday. The business’s 50 day simple moving average is $77.77 and its 200 day simple moving average is $53.55. Spyre Therapeutics, Inc. has a 12 month low of $14.51 and a 12 month high of $102.06. The company has a market cap of $7.62 billion, a price-to-earnings ratio of -41.65 and a beta of 3.02.

Spyre Therapeutics (NASDAQ:SYRE) last released its 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). As a group, equities research analysts forecast that Spyre Therapeutics, Inc. will post -2.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Spyre Therapeutics

A number of large investors have recently made changes to their positions in SYRE. Summit Securities Group LLC bought a new stake in shares of Spyre Therapeutics during the 1st quarter valued at $28,000. KBC Group NV bought a new position in Spyre Therapeutics in the 1st quarter worth about $69,000. Russell Investments Group Ltd. boosted its stake in Spyre Therapeutics by 2,881.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company’s stock worth $71,000 after purchasing an additional 4,092 shares during the period. Persistent Asset Partners Ltd purchased a new position in Spyre Therapeutics during the 4th quarter valued at about $74,000. Finally, Tower Research Capital LLC TRC grew its holdings in Spyre Therapeutics by 182.2% during 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 in the last quarter. 80.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on SYRE. Jefferies Financial Group lifted their price objective on Spyre Therapeutics from $47.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Spyre Therapeutics from $115.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. BTIG Research increased their target price on shares of Spyre Therapeutics from $98.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Spyre Therapeutics in a research note on Thursday, June 4th. Finally, Stifel Nicolaus boosted their price target on shares of Spyre Therapeutics from $92.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Two 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. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $95.83.

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.