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 Wednesday, July 1st. The shares were sold at an average price of $87.74, for a total transaction of $658,050.00. Following the transaction, the chief financial officer owned 97,994 shares in the company, valued at $8,597,993.56. The trade was a 7.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Spyre Therapeutics Stock Down 2.5%

Shares of Spyre Therapeutics stock traded down $2.26 during trading on Thursday, reaching $86.63. The company’s stock had a trading volume of 973,914 shares, compared to its average volume of 1,804,648. The company has a market cap of $7.62 billion, a price-to-earnings ratio of -41.65 and a beta of 3.02. The firm’s 50-day moving average is $77.77 and its two-hundred day moving average is $53.55. Spyre Therapeutics, Inc. has a 52-week low of $14.51 and a 52-week high of $102.06.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.08). On average, equities research analysts anticipate that Spyre Therapeutics, Inc. will post -2.86 EPS for the current year.

Institutional Investors Weigh In On Spyre Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Optimize Financial Inc increased its position in shares of Spyre Therapeutics by 1.5% during the fourth quarter. Optimize Financial Inc now owns 25,331 shares of the company’s stock valued at $830,000 after buying an additional 364 shares during the period. Mercer Global Advisors Inc. ADV lifted its holdings in Spyre Therapeutics by 0.5% in the third quarter. Mercer Global Advisors Inc. ADV now owns 106,664 shares of the company’s stock worth $1,788,000 after buying an additional 522 shares during the period. Summit Securities Group LLC bought a new stake in Spyre Therapeutics during the 1st quarter valued at approximately $28,000. California State Teachers Retirement System boosted its position in Spyre Therapeutics by 1.8% during the 2nd quarter. California State Teachers Retirement System now owns 33,201 shares of the company’s stock valued at $497,000 after acquiring an additional 603 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Spyre Therapeutics by 4.5% during the 4th quarter. AQR Capital Management LLC now owns 17,820 shares of the company’s stock worth $584,000 after acquiring an additional 773 shares during the period. 80.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SYRE has been the topic of several recent analyst reports. JonesTrading raised their target price 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. Wells Fargo & Company raised their price target on shares of Spyre Therapeutics from $50.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, April 14th. Raymond James Financial started coverage on shares of Spyre Therapeutics in a research note on Monday, April 13th. They set a “strong-buy” rating and a $80.00 price objective for the company. Jefferies Financial Group raised their target price on Spyre Therapeutics from $47.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Finally, Leerink Partners increased their price objective on Spyre Therapeutics from $49.00 to $106.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $95.83.

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.