Key Points
- CEO Cameron Turtle sold 15,000 shares on Dec. 1 at an average price of $29.02 for $435,300, leaving him with 686,907 shares (a 2.14% reduction in ownership); he also sold 45,000 shares on Nov. 3 at $23.33 for about $1.05 million.
- Spyre's stock recently jumped (opened at $32.20, up 13.4%), the company has a $2.5 billion market cap and negative trailing P/E, and analysts have a consensus "Buy" rating with a $52.33 price target.
Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) CEO Cameron Turtle sold 15,000 shares of the company's stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $29.02, for a total transaction of $435,300.00. Following the completion of the transaction, the chief executive officer directly owned 686,907 shares of the company's stock, valued at approximately $19,934,041.14. The trade was a 2.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Cameron Turtle also recently made the following trade(s):
- On Monday, November 3rd, Cameron Turtle sold 45,000 shares of Spyre Therapeutics stock. The shares were sold at an average price of $23.33, for a total transaction of $1,049,850.00.
Spyre Therapeutics Stock Up 13.4%
NASDAQ:SYRE opened at $32.20 on Thursday. Spyre Therapeutics, Inc. has a 52 week low of $10.91 and a 52 week high of $32.26. The business's 50 day moving average is $22.65 and its two-hundred day moving average is $18.42. The company has a market cap of $2.50 billion, a PE ratio of -14.70 and a beta of 3.14.
Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.53. As a group, sell-side analysts expect that Spyre Therapeutics, Inc. will post -4.46 EPS for the current fiscal year.
Hedge Funds Weigh In On Spyre Therapeutics
Several hedge funds have recently added to or reduced their stakes in the company. CWM LLC boosted its holdings in Spyre Therapeutics by 357.8% during the second quarter. CWM LLC now owns 1,712 shares of the company's stock worth $26,000 after buying an additional 1,338 shares during the last quarter. AlphaQuest LLC lifted its stake in Spyre Therapeutics by 45.2% in the 1st quarter. AlphaQuest LLC now owns 3,191 shares of the company's stock valued at $51,000 after acquiring an additional 993 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Spyre Therapeutics by 2,881.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company's stock worth $71,000 after buying an additional 4,092 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in Spyre Therapeutics by 25.8% in the second quarter. Ameritas Investment Partners Inc. now owns 5,091 shares of the company's stock valued at $76,000 after purchasing an additional 1,045 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Spyre Therapeutics by 182.2% during the second quarter. Tower Research Capital LLC TRC now owns 5,769 shares of the company's stock worth $86,000 after buying an additional 3,725 shares during the last quarter. Institutional investors own 80.39% of the company's stock.
Wall Street Analyst Weigh In
SYRE has been the topic of a number of recent analyst reports. Wedbush restated an "outperform" rating and set a $65.00 price target on shares of Spyre Therapeutics in a report on Wednesday, August 6th. Wall Street Zen raised shares of Spyre Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, November 16th. Jones Trading raised Spyre Therapeutics from a "hold" rating to a "buy" rating and set a $64.00 price target for the company in a research note on Monday. Deutsche Bank Aktiengesellschaft initiated coverage on Spyre Therapeutics in a report on Friday, September 26th. They set a "buy" rating and a $43.00 target price on the stock. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Spyre Therapeutics in a research note on Tuesday, November 25th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $52.33.
Get Our Latest Analysis on Spyre Therapeutics
About Spyre Therapeutics
(
Get Free Report)
Spyre Therapeutics, Inc, a preclinical stage biotechnology company, focuses on developing therapeutics for patients living with inflammatory bowel disease (IBD). It develops SPY001, a human monoclonal immunoglobulin G1 antibody designed to bind selectively to the a4ß7 integrin being developed for the treatment of IBD (ulcerative colitis and Crohn's disease).
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