Insider Selling: Spyre Therapeutics (NASDAQ:SYRE) Insider Sells $36,000.00 in Stock

Key Points

• Spyre Therapeutics insider Heidy King-Jones sold 400 shares for $36,000 under a pre-arranged Rule 10b5-1 plan, reducing her ownership by 12.33%. She had also sold 27,999 shares worth approximately $2.44 million the previous day.
• SYRE shares rose 0.2% to $87.25, giving the company a market capitalization of about $7.67 billion. The stock has traded between $14.51 and $110.18 over the past year.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $109.69; institutional investors own 80.39% of the shares.

Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) insider Heidy King-Jones sold 400 shares of the company's stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $90.00, for a total value of $36,000.00. Following the completion of the transaction, the insider owned 2,845 shares of the company's stock, valued at $256,050. The trade was a 12.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 Tuesday, September 1st, Heidy King-Jones sold 27,999 shares of Spyre Therapeutics stock. The shares were sold at an average price of $87.31, for a total value of $2,444,592.69.

Spyre Therapeutics Stock Up 0.2%

Shares of Spyre Therapeutics stock traded up $0.20 during trading on Thursday, hitting $87.25. 1,054,184 shares of the stock traded hands, compared to its average volume of 1,063,422. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of -44.74 and a beta of 2.99. Spyre Therapeutics, Inc. has a 52 week low of $14.51 and a 52 week high of $110.18. The firm's fifty day moving average is $98.03 and its 200-day moving average is $74.53.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last released its 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. On average, analysts forecast that Spyre Therapeutics, Inc. will post -2.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System raised its position in Spyre Therapeutics by 9,594.0% during the 2nd quarter. California State Teachers Retirement System now owns 5,742,912 shares of the company's stock valued at $509,856,000 after purchasing an additional 5,683,670 shares during the last quarter. RTW Investments LP lifted its holdings 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 buying an additional 550,000 shares during the period. Vanguard Group Inc. grew its position in shares of 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 buying an additional 984,344 shares during the last quarter. Perceptive Advisors LLC grew its position 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 buying an additional 714,000 shares during the last quarter. Finally, Capital International Investors increased its stake in shares of Spyre Therapeutics by 46.0% during the fourth quarter. Capital International Investors now owns 3,492,541 shares of the company's stock valued at $114,416,000 after buying an additional 1,100,000 shares during the period. Hedge funds and other institutional investors own 80.39% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SYRE. Mizuho upped their price objective on shares of Spyre Therapeutics from $84.00 to $120.00 and gave the company an "outperform" rating in a research note on Monday, July 13th. Wall Street Zen cut shares of Spyre Therapeutics from a "hold" rating to a "sell" rating in a research report on Sunday, August 16th. Deutsche Bank Aktiengesellschaft lowered 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 note on Wednesday, August 26th. Citigroup upped their price target on shares of Spyre Therapeutics from $64.00 to $97.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Finally, BTIG Research reduced their price objective on Spyre Therapeutics from $132.00 to $121.00 and set a "buy" rating on the stock in a research note on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Spyre Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $109.69.

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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