Insider Selling: Spyre Therapeutics (NASDAQ:SYRE) CEO Sells 15,000 Shares of Stock

Key Points

• CEO Cameron Turtle sold 15,000 Spyre Therapeutics shares at an average price of $87.29, generating $1.31 million; the transaction occurred under a pre-arranged Rule 10b5-1 plan and reduced his ownership by 2.64%.
• Spyre shares rose 0.2% to $87.25, while the company reported quarterly EPS of -$0.36, beating the consensus estimate of -$0.76.
• Analysts maintain a generally positive view, with a “Moderate Buy” consensus and an average price target of $109.69; institutional investors own 80.39% of the stock.

Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) CEO Cameron Turtle sold 15,000 shares of the business's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $87.29, for a total transaction of $1,309,350.00. Following the completion of the transaction, the chief executive officer owned 552,540 shares of the company's stock, valued at $48,231,216.60. This represents a 2.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cameron Turtle also recently made the following trade(s):

• On Monday, August 3rd, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The shares were sold at an average price of $95.51, for a total transaction of $1,432,650.00.
• On Wednesday, July 1st, Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock. The shares were sold at an average price of $87.69, for a total transaction of $1,315,350.00.

Spyre Therapeutics Stock Up 0.2%

Shares of Spyre Therapeutics stock traded up $0.20 on Thursday, reaching $87.25. The stock had a trading volume of 1,054,184 shares, compared to its average volume of 1,063,422. The company has a 50 day moving average price of $98.03 and a 200 day moving average price of $74.53. Spyre Therapeutics, Inc. has a 1 year low of $14.51 and a 1 year high of $110.18. 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 (NASDAQ:SYRE - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported ($0.36) EPS for the quarter, beating analysts' consensus estimates of ($0.76) by $0.40. On average, analysts forecast that Spyre Therapeutics, Inc. will post -2.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

SYRE has been the subject of a number of recent analyst reports. Mizuho raised their price objective on Spyre Therapeutics from $84.00 to $120.00 and gave the stock an "outperform" rating in a research report on Monday, July 13th. BTIG Research decreased their price target on Spyre Therapeutics from $132.00 to $121.00 and set a "buy" rating for the company in a research note on Wednesday, August 26th. Stifel Nicolaus raised their price target on Spyre Therapeutics from $92.00 to $107.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Wedbush dropped their price target on Spyre Therapeutics from $130.00 to $123.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 26th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Spyre Therapeutics in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Spyre Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $109.69.

Institutional Investors Weigh In On Spyre Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System grew its holdings in shares of Spyre Therapeutics by 9,594.0% during the second quarter. California State Teachers Retirement System now owns 5,742,912 shares of the company's stock valued at $509,856,000 after buying an additional 5,683,670 shares during the last quarter. RTW Investments LP raised its stake in Spyre Therapeutics by 15.2% in 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. raised its stake in Spyre Therapeutics by 32.3% in the 4th quarter. Vanguard Group Inc. now owns 4,035,074 shares of the company's stock worth $132,189,000 after acquiring an additional 984,344 shares during the last quarter. Perceptive Advisors LLC lifted its position in Spyre Therapeutics by 23.3% during the 1st quarter. Perceptive Advisors LLC now owns 3,783,225 shares of the company's stock worth $190,826,000 after acquiring an additional 714,000 shares during the period. Finally, Capital International Investors lifted its position in Spyre Therapeutics by 46.0% during the 4th quarter. Capital International Investors now owns 3,492,541 shares of the company's stock worth $114,416,000 after acquiring an additional 1,100,000 shares during the period. 80.39% of the stock is currently owned by institutional investors and hedge funds.

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.

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