Spyre Therapeutics, Inc. (NASDAQ:SYRE – Get Free Report) CFO Scott Burrows sold 7,500 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $95.57, for a total value of $716,775.00. Following the completion of the sale, the chief financial officer owned 97,994 shares in the company, valued at approximately $9,365,286.58. This trade represents a 7.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Spyre Therapeutics Stock Down 0.6%
Shares of NASDAQ:SYRE traded down $0.59 during mid-day trading on Wednesday, reaching $104.35. 1,037,381 shares of the stock were exchanged, compared to its average volume of 1,066,070. The stock’s 50 day simple moving average is $89.91 and its 200-day simple moving average is $64.66. Spyre Therapeutics, Inc. has a one year low of $14.51 and a one year high of $108.14. The company has a market cap of $9.18 billion, a P/E ratio of -53.51 and a beta of 3.03.
Spyre Therapeutics (NASDAQ:SYRE – Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.40. Analysts anticipate that Spyre Therapeutics, Inc. will post -2.86 EPS for the current fiscal year.
Institutional Inflows and Outflows
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Spyre Therapeutics in a research note on Thursday, June 4th. Wedbush raised their price target on Spyre Therapeutics from $100.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday. Wolfe Research downgraded Spyre Therapeutics from an “outperform” rating to a “peer perform” rating in a report on Tuesday, July 28th. Wall Street Zen downgraded shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Finally, Wells Fargo & Company upped their price target on shares of Spyre Therapeutics from $90.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $110.15.
Read Our Latest Stock Analysis on SYRE
Spyre Therapeutics Company Profile
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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