Key Points
- Spyre Therapeutics CEO Cameron Turtle sold 15,000 shares on July 1 at an average price of $87.69, totaling about $1.32 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Turtle still directly owned 582,540 shares valued at roughly $51.1 million, reflecting a 2.51% reduction in his position. He had also sold 15,000 shares in both May and June.
- Spyre Therapeutics’ stock has risen sharply over the past year, with shares trading near $86.63 versus a 52-week low of $14.51 and high of $102.06. Analysts remain generally bullish, with a consensus rating of Buy and a target price of about $95.83.
Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) CFO Scott Burrows sold 7,500 shares of the firm's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $87.74, for a total transaction of $658,050.00. Following the sale, the chief financial officer directly owned 97,994 shares in the company, valued at approximately $8,597,993.56. The trade was a 7.11% decrease in their position. 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 SYRE stock opened at $86.63 on Friday. The company has a 50 day moving average price of $77.77 and a 200-day moving average price of $53.55. Spyre Therapeutics, Inc. has a 52 week low of $14.51 and a 52 week high of $102.06. The firm has a market capitalization of $7.62 billion, a PE ratio of -41.65 and a beta of 3.02.
Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.74) earnings per share for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.08). Analysts anticipate that Spyre Therapeutics, Inc. will post -2.86 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in SYRE. RTW Investments LP boosted its stake in shares of Spyre Therapeutics by 15.2% during the 4th quarter. RTW Investments LP now owns 4,171,996 shares of the company's stock worth $136,675,000 after acquiring an additional 550,000 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Spyre Therapeutics by 32.3% during the 4th quarter. Vanguard Group Inc. now owns 4,035,074 shares of the company's stock valued at $132,189,000 after acquiring an additional 984,344 shares during the period. Perceptive Advisors LLC increased its stake in shares of Spyre Therapeutics by 23.3% in the 1st quarter. Perceptive Advisors LLC now owns 3,783,225 shares of the company's stock worth $190,826,000 after purchasing an additional 714,000 shares in the last quarter. Capital International Investors increased its stake in shares of Spyre Therapeutics by 46.0% in the 4th quarter. Capital International Investors now owns 3,492,541 shares of the company's stock worth $114,416,000 after purchasing an additional 1,100,000 shares in the last quarter. Finally, Commodore Capital LP raised its holdings in Spyre Therapeutics by 20.1% in the 4th quarter. Commodore Capital LP now owns 2,388,245 shares of the company's stock worth $78,239,000 after purchasing an additional 400,161 shares during the period. 80.39% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on SYRE shares. Raymond James Financial assumed coverage on Spyre Therapeutics in a report on Monday, April 13th. They set a "strong-buy" rating and a $80.00 price target on the stock. Wells Fargo & Company lifted their price objective on Spyre Therapeutics from $50.00 to $90.00 and gave the stock an "overweight" rating in a report on Tuesday, April 14th. BTIG Research upped their price objective on Spyre Therapeutics from $98.00 to $112.00 and gave the company a "buy" rating in a research report on Monday, June 15th. Wedbush reissued an "outperform" rating and issued a $100.00 target price on shares of Spyre Therapeutics in a report on Tuesday, June 16th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Spyre Therapeutics from $115.00 to $135.00 and gave the stock a "buy" rating in a research report on Tuesday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $95.83.
Read Our Latest Research Report on Spyre Therapeutics
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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