Insider Selling: Spyre Therapeutics, Inc. (NASDAQ:SYRE) Director Sells 300 Shares of Stock

Spyre Therapeutics, Inc. (NASDAQ:SYREGet Free Report) Director Jeffrey W. Albers sold 300 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $36.43, for a total transaction of $10,929.00. Following the sale, the director now owns 34,060 shares of the company’s stock, valued at $1,240,805.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Spyre Therapeutics Price Performance

Spyre Therapeutics stock traded down $0.41 during mid-day trading on Monday, hitting $34.40. The company’s stock had a trading volume of 230,308 shares, compared to its average volume of 511,872. The company has a market cap of $1.39 billion, a PE ratio of -0.49 and a beta of 2.92. Spyre Therapeutics, Inc. has a 52-week low of $8.43 and a 52-week high of $47.97. The firm’s 50 day moving average is $29.09 and its 200 day moving average is $30.34.

Spyre Therapeutics (NASDAQ:SYREGet Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.86) EPS for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.04. As a group, analysts forecast that Spyre Therapeutics, Inc. will post -3.68 EPS for the current year.

Hedge Funds Weigh In On Spyre Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Driehaus Capital Management LLC acquired a new position in Spyre Therapeutics in the second quarter worth approximately $16,153,000. Ensign Peak Advisors Inc bought a new position in shares of Spyre Therapeutics during the 2nd quarter valued at $1,939,000. Bank of New York Mellon Corp bought a new position in shares of Spyre Therapeutics during the 2nd quarter valued at $2,767,000. Rhumbline Advisers bought a new stake in Spyre Therapeutics in the second quarter worth $1,220,000. Finally, Assenagon Asset Management S.A. acquired a new position in Spyre Therapeutics during the third quarter worth $33,609,000. 80.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Guggenheim raised their price objective on Spyre Therapeutics from $50.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday. Evercore ISI started coverage on Spyre Therapeutics in a research report on Tuesday, July 16th. They issued an “outperform” rating for the company. Finally, Wedbush assumed coverage on Spyre Therapeutics in a report on Wednesday, September 4th. They set an “outperform” rating and a $45.00 price objective on the stock. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $46.43.

View Our Latest Stock Analysis on Spyre Therapeutics

About Spyre Therapeutics

(Get Free Report)

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).

Further Reading

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