Cameron Turtle Sells 15,000 Shares of Spyre Therapeutics (NASDAQ:SYRE) Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CEO Cameron Turtle sold 15,000 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $95.51, for a total transaction of $1,432,650.00. Following the transaction, the chief executive officer directly owned 567,540 shares of the company’s stock, valued at $54,205,745.40. This represents a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cameron Turtle also recently made the following trade(s):

• On Wednesday, July 1st, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The shares were sold at an average price of $87.69, for a total value of $1,315,350.00.
• On Monday, June 1st, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The stock was sold at an average price of $70.43, for a total value of $1,056,450.00.

Spyre Therapeutics Trading Down 0.9%

Shares of SYRE stock opened at $103.42 on Friday. The stock has a 50 day simple moving average of $90.54 and a 200-day simple moving average of $65.15. The company has a market cap of $9.09 billion, a price-to-earnings ratio of -53.04 and a beta of 3.03. Spyre Therapeutics, Inc. has a 12-month low of $14.51 and a 12-month high of $108.14.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.40. On average, equities analysts forecast that Spyre Therapeutics, Inc. will post -2.86 earnings per share for the current fiscal year.

Key Headlines Impacting Spyre Therapeutics

Here are the key news stories impacting Spyre Therapeutics this week:

• Positive Sentiment: Second-quarter earnings beat expectations: Spyre reported a loss of $0.36 per share, substantially narrower than the consensus estimate of $0.76. The result suggests better-than-expected expense management and improved investor sentiment. SYRE Q2 earnings article
• Positive Sentiment: Pipeline momentum remains the key catalyst: The company reported positive progress in its Phase 2 programs and pointed to upcoming clinical data readouts. For this clinical-stage biotechnology company, successful trial updates could have a greater effect on valuation than near-term earnings. Spyre second-quarter corporate update
• Positive Sentiment: Analysts raised their targets: Wedbush increased its price target from $100 to $130 with an “Outperform” rating, while Guggenheim lifted its target from $115 to $130 and maintained a “Buy” rating. These revisions signal expectations for additional upside from Spyre’s pipeline and upcoming milestones. Analyst price-target updates
• Neutral Sentiment: Shares reached a new one-year high: The stock’s strength following the earnings release reflects growing optimism, although its elevated valuation and high beta indicate that future clinical results could produce significant volatility. Spyre reaches one-year high
• Negative Sentiment: Executives reported stock sales: CEO Cameron Turtle sold 15,000 shares and CFO Scott Burrows sold 7,500 shares at prices near $95.50. Both transactions were made under pre-arranged Rule 10b5-1 plans, reducing the negative signal, and both executives retained substantial positions. Spyre insider transactions

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. JonesTrading boosted their price objective on shares of Spyre Therapeutics from $64.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Wedbush upped their price target on Spyre Therapeutics from $100.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday. Raymond James Financial started coverage on Spyre Therapeutics in a research note on Monday, April 13th. They issued a “strong-buy” rating and a $80.00 price objective for the company. Wall Street Zen cut Spyre Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Finally, Citigroup boosted their target price on Spyre Therapeutics from $64.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $110.15.

Institutional Trading of Spyre Therapeutics

Several large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Spyre Therapeutics by 18.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,018 shares of the company’s stock worth $442,000 after purchasing an additional 4,277 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Spyre Therapeutics by 13.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 47,279 shares of the company’s stock valued at $708,000 after buying an additional 5,723 shares in the last quarter. Rhumbline Advisers lifted its stake in Spyre Therapeutics by 30.6% in the 2nd quarter. Rhumbline Advisers now owns 73,168 shares of the company’s stock valued at $1,095,000 after buying an additional 17,145 shares in the last quarter. New York State Common Retirement Fund grew its holdings in Spyre Therapeutics by 61.4% during the 2nd quarter. New York State Common Retirement Fund now owns 16,565 shares of the company’s stock valued at $248,000 after buying an additional 6,300 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Spyre Therapeutics by 37.6% during the 2nd quarter. Invesco Ltd. now owns 34,680 shares of the company’s stock valued at $519,000 after buying an additional 9,473 shares during the last quarter. 80.39% of the stock is currently owned by institutional investors and hedge funds.

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.