Key Points
- Spyre Therapeutics CFO Scott Burrows sold 7,500 shares on June 1 at an average price of $71.06, totaling about $532,950. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- SYRE shares rose 6.3% and opened at $73.52, near the stock’s 52-week high of $78.80. The company now has a market capitalization of about $6.38 billion.
- Analysts remain broadly positive on the stock, with an average rating of “Buy” and a consensus price target of $91.33. Recent target increases from firms including Leerink Partners, JonesTrading, Citigroup, and Wells Fargo helped lift expectations.
Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) CFO Scott Burrows sold 7,500 shares of the business's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $71.06, for a total value of $532,950.00. Following the completion of the sale, the chief financial officer directly owned 97,994 shares of the company's stock, valued at approximately $6,963,453.64. The trade was a 7.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Spyre Therapeutics Stock Up 6.3%
Shares of SYRE opened at $73.52 on Thursday. The firm has a market cap of $6.38 billion, a price-to-earnings ratio of -35.35 and a beta of 3.05. Spyre Therapeutics, Inc. has a 12 month low of $13.93 and a 12 month high of $78.80. The company's fifty day moving average is $65.34 and its 200-day moving average is $45.34.
Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last posted its 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). As a group, research analysts predict that Spyre Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on SYRE shares. Leerink Partners boosted their target price on Spyre Therapeutics from $49.00 to $106.00 and gave the stock an "outperform" rating in a report on Monday, April 13th. JonesTrading increased their price target on Spyre Therapeutics from $64.00 to $95.00 and gave the company a "buy" rating in a report on Friday, April 17th. Citigroup boosted their price objective on shares of Spyre Therapeutics from $64.00 to $97.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Wells Fargo & Company lifted their target price 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. Finally, Wall Street Zen cut shares of Spyre Therapeutics from a "hold" rating to a "sell" rating in a report on Sunday, April 26th. Two 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $91.33.
Check Out Our Latest Analysis on Spyre Therapeutics
Institutional Investors Weigh In On Spyre Therapeutics
Several hedge funds have recently made changes to their positions in the stock. Optimize Financial Inc increased its holdings in Spyre Therapeutics by 1.5% in the 4th 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 boosted its stake 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 purchasing an additional 522 shares in the last quarter. Summit Securities Group LLC bought a new stake in Spyre Therapeutics during the 1st quarter worth about $28,000. California State Teachers Retirement System grew its stake in shares of Spyre Therapeutics by 1.8% during the second quarter. California State Teachers Retirement System now owns 33,201 shares of the company's stock valued at $497,000 after purchasing an additional 603 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in Spyre Therapeutics by 4.5% in the 4th quarter. AQR Capital Management LLC now owns 17,820 shares of the company's stock valued at $584,000 after buying an additional 773 shares during the last quarter. Institutional investors own 80.39% of the company's stock.
Spyre Therapeutics Company Profile
(
Get Free Report)
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.
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