Insider Selling: Spyre Therapeutics (NASDAQ:SYRE) CFO Sells 18,428 Shares of Stock

Key Points

• Spyre Therapeutics CFO Scott Burrows sold 18,428 shares of stock at an average price of $16.26, totaling approximately $300,000, which decreased his holdings by 15.83%.
• The company's stock has recently traded up 1.1% to $16.81, with a market capitalization of $1.02 billion and a 52-week stock price range between $10.91 and $40.26.
• Analysts have mixed ratings on Spyre Therapeutics, with an average rating of "Buy" and a consensus price target of $53.40, while some firms have adjusted their ratings and expectations downwards.

Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) CFO Scott Burrows sold 18,428 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $16.26, for a total value of $299,639.28. Following the completion of the transaction, the chief financial officer directly owned 97,994 shares in the company, valued at $1,593,382.44. This trade represents a 15.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Spyre Therapeutics Trading Up 1.1%

NASDAQ:SYRE traded up $0.18 during trading hours on Wednesday, hitting $16.81. The company's stock had a trading volume of 275,093 shares, compared to its average volume of 419,687. The stock has a market capitalization of $1.02 billion, a P/E ratio of -4.94 and a beta of 2.87. The stock has a fifty day moving average of $16.37 and a 200-day moving average of $16.23. Spyre Therapeutics, Inc. has a 52-week low of $10.91 and a 52-week high of $40.26.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.73) by $0.24. On average, sell-side analysts forecast that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on SYRE shares. Wedbush reissued an "outperform" rating and issued a $65.00 target price on shares of Spyre Therapeutics in a report on Wednesday, August 6th. Wall Street Zen lowered Spyre Therapeutics from a "hold" rating to a "sell" rating in a report on Sunday. Two equities research analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to MarketBeat.com, Spyre Therapeutics has an average rating of "Buy" and a consensus price target of $53.40.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets purchased a new position in shares of Spyre Therapeutics in the 4th quarter valued at approximately $437,000. First Trust Advisors LP purchased a new position in shares of Spyre Therapeutics in the 4th quarter valued at approximately $548,000. GAMMA Investing LLC purchased a new position in shares of Spyre Therapeutics in the 1st quarter valued at approximately $70,000. Northern Trust Corp lifted its position in Spyre Therapeutics by 11.0% in the fourth quarter. Northern Trust Corp now owns 348,983 shares of the company's stock valued at $8,124,000 after purchasing an additional 34,693 shares during the period. Finally, Deutsche Bank AG lifted its position in Spyre Therapeutics by 46.1% in the fourth quarter. Deutsche Bank AG now owns 31,418 shares of the company's stock valued at $731,000 after purchasing an additional 9,910 shares during the period. 80.39% of the stock is currently owned by hedge funds and other institutional investors.

About Spyre Therapeutics

Spyre Therapeutics, Inc, a preclinical stage biotechnology company, focuses on developing therapeutics for patients living with inflammatory bowel disease (IBD). It develops SPY001, a human monoclonal immunoglobulin G1 antibody designed to bind selectively to the a4ß7 integrin being developed for the treatment of IBD (ulcerative colitis and Crohn's disease).

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