Heidy King-Jones Sells 27,999 Shares of Spyre Therapeutics (NASDAQ:SYRE) Stock

Key Points

• Insider sale: Heidy King-Jones sold 27,999 Spyre Therapeutics shares for approximately $2.44 million at an average price of $87.31, reducing their ownership by 90.78% to 2,845 shares. The transaction was conducted under a pre-arranged Rule 10b5-1 plan.
• Stock and earnings: SYRE recently traded around $87.25, with a $7.67 billion market capitalization, after reporting a quarterly loss of $0.36 per share—better than the $0.76 loss analysts expected.
• Analyst outlook: Institutional investors own 80.39% of the company, while analysts maintain a consensus “Moderate Buy” rating and an average price target of $109.69, despite one sell rating.

Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) insider Heidy King-Jones sold 27,999 shares of the business's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $87.31, for a total transaction of $2,444,592.69. Following the completion of the sale, the insider owned 2,845 shares in the company, valued at $248,396.95. The trade was a 90.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Heidy King-Jones also recently made the following trade(s):

• On Wednesday, September 2nd, Heidy King-Jones sold 400 shares of Spyre Therapeutics stock. The stock was sold at an average price of $90.00, for a total transaction of $36,000.00.

Spyre Therapeutics Stock Up 0.2%

Spyre Therapeutics stock traded up $0.20 during mid-day trading on Thursday, hitting $87.25. The company's stock had a trading volume of 1,054,184 shares, compared to its average volume of 1,063,422. The stock has a market capitalization of $7.67 billion, a P/E ratio of -44.74 and a beta of 2.99. Spyre Therapeutics, Inc. has a twelve month low of $14.51 and a twelve month high of $110.18. The stock's fifty day moving average price is $98.03 and its two-hundred day moving average price is $74.53.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.36) EPS for the quarter, beating analysts' consensus estimates of ($0.76) by $0.40. Equities analysts expect that Spyre Therapeutics, Inc. will post -2.62 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Spyre Therapeutics by 18.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,018 shares of the company's stock worth $442,000 after buying an additional 4,277 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Spyre Therapeutics by 13.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 47,279 shares of the company's stock worth $708,000 after acquiring an additional 5,723 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Spyre Therapeutics by 30.6% during the 2nd quarter. Rhumbline Advisers now owns 73,168 shares of the company's stock worth $1,095,000 after acquiring an additional 17,145 shares in the last quarter. New York State Common Retirement Fund increased its holdings in shares of Spyre Therapeutics by 61.4% during the 2nd quarter. New York State Common Retirement Fund now owns 16,565 shares of the company's stock valued at $248,000 after acquiring an additional 6,300 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Spyre Therapeutics by 37.6% in the 2nd quarter. Invesco Ltd. now owns 34,680 shares of the company's stock valued at $519,000 after acquiring an additional 9,473 shares in the last quarter. Institutional investors own 80.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on SYRE shares. Wells Fargo & Company upped their price objective on shares of Spyre Therapeutics from $90.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Spyre Therapeutics from $135.00 to $127.00 and set a "buy" rating for the company in a research report on Wednesday, August 26th. Stifel Nicolaus lifted their price objective on shares of Spyre Therapeutics from $92.00 to $107.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Weiss Ratings restated a "sell (d-)" rating on shares of Spyre Therapeutics in a report on Tuesday. Finally, Guggenheim lifted their price target on Spyre Therapeutics from $115.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Spyre Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $109.69.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source