Key Points
- Spyre Therapeutics CFO Scott Burrows sold 15,000 shares on June 25 at an average price of $87.13, totaling about $1.31 million. After the sale, he still owned 97,994 shares valued at roughly $8.54 million.
- The stock closed at $87.89 and has traded between a 52-week low of $14.00 and high of $102.06, giving the company a market cap of about $7.63 billion. Shares have risen well above both the 50-day and 200-day moving averages.
- Spyre recently missed earnings estimates, reporting a quarterly loss of $0.74 per share versus expectations of a $0.66 loss. Even so, analysts remain largely bullish, with a consensus rating of “Buy” and an average target price of $95.83.
Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) CFO Scott Burrows sold 15,000 shares of Spyre Therapeutics stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $87.13, for a total value of $1,306,950.00. Following the sale, the chief financial officer directly owned 97,994 shares in the company, valued at approximately $8,538,217.22. The trade was a 13.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Spyre Therapeutics Stock Performance
Shares of NASDAQ:SYRE opened at $87.89 on Friday. Spyre Therapeutics, Inc. has a 52-week low of $14.00 and a 52-week high of $102.06. The firm has a market capitalization of $7.63 billion, a P/E ratio of -42.25 and a beta of 3.05. The stock has a 50 day moving average price of $76.42 and a 200-day moving average price of $51.89.
Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last released 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 analysts forecast that Spyre Therapeutics, Inc. will post -2.86 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on SYRE shares. Wells Fargo & Company boosted their price objective on shares of Spyre Therapeutics from $50.00 to $90.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 14th. Leerink Partners raised their target price on shares of Spyre Therapeutics from $49.00 to $106.00 and gave the company an "outperform" rating in a research note on Monday, April 13th. Wedbush reiterated an "outperform" rating and set a $100.00 target price on shares of Spyre Therapeutics in a report on Tuesday, June 16th. JonesTrading boosted their price target on Spyre Therapeutics from $64.00 to $95.00 and gave the stock a "buy" rating in a research report on Friday, April 17th. Finally, Raymond James Financial assumed coverage on Spyre Therapeutics in a research note on Monday, April 13th. They issued a "strong-buy" rating and a $80.00 price target on the stock. Two research 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. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $95.83.
Read Our Latest Stock Report on Spyre Therapeutics
Institutional Trading of Spyre Therapeutics
Several institutional investors have recently bought and sold shares of SYRE. Perceptive Advisors LLC increased its stake in Spyre Therapeutics by 149.6% during the 4th quarter. Perceptive Advisors LLC now owns 3,069,225 shares of the company's stock valued at $100,548,000 after purchasing an additional 1,839,780 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Spyre Therapeutics by 13,969.3% in the fourth quarter. Janus Henderson Group PLC now owns 1,829,009 shares of the company's stock worth $59,918,000 after buying an additional 1,816,009 shares in the last quarter. RA Capital Management L.P. purchased a new stake in shares of Spyre Therapeutics during the fourth quarter valued at approximately $53,124,000. Remedium Capital Partners LLC purchased a new stake in shares of Spyre Therapeutics during the fourth quarter valued at approximately $47,706,000. Finally, TCG Crossover Management LLC bought a new stake in shares of Spyre Therapeutics during the third quarter valued at approximately $18,446,000. 80.39% of the stock is owned by hedge funds and other institutional investors.
About Spyre Therapeutics
(
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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