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 on Wednesday, April 1st. The shares were sold at an average price of $49.34, for a total transaction of $370,050.00. Following the transaction, the chief financial officer owned 97,994 shares of the company’s stock, valued at $4,835,023.96. This trade represents a 7.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Spyre Therapeutics Price Performance

Shares of NASDAQ:SYRE opened at $47.58 on Friday. The firm has a fifty day simple moving average of $40.00 and a two-hundred day simple moving average of $31.05. Spyre Therapeutics, Inc. has a 52 week low of $10.91 and a 52 week high of $51.06. The stock has a market capitalization of $3.74 billion, a P/E ratio of -22.88 and a beta of 2.93.

Spyre Therapeutics (NASDAQ:SYRE) last announced its earnings results on Thursday, February 26th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.04). On average, analysts expect that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SYRE. Russell Investments Group Ltd. lifted its holdings 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 valued at $71,000 after buying an additional 4,092 shares in the last quarter. Persistent Asset Partners Ltd bought a new position in Spyre Therapeutics in the 4th quarter worth about $74,000. Tower Research Capital LLC TRC grew its stake in Spyre Therapeutics by 182.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,769 shares of the company’s stock worth $86,000 after acquiring an additional 3,725 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Spyre Therapeutics by 61.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,770 shares of the company’s stock worth $124,000 after acquiring an additional 1,435 shares during the period. Finally, Man Group plc bought a new stake in shares of Spyre Therapeutics during the second quarter valued at approximately $162,000. 80.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. BTIG Research restated a “buy” rating and set a $70.00 price objective on shares of Spyre Therapeutics in a research report on Tuesday, March 31st. Leerink Partners upgraded Spyre Therapeutics to a “strong-buy” rating in a report on Thursday, February 19th. Stifel Nicolaus boosted their target price on Spyre Therapeutics from $70.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, March 18th. Mizuho upgraded Spyre Therapeutics to a “strong-buy” rating in a report on Thursday, December 18th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Spyre Therapeutics in a research report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $60.67.

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.