Spyre Therapeutics, Inc. (NASDAQ:SYRE) Director Jeffrey W. Albers Sells 300 Shares

Spyre Therapeutics, Inc. (NASDAQ:SYRE) Director Jeffrey W. Albers sold 300 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $36.43, for a total transaction of $10,929.00. Following the completion of the transaction, the director now owns 34,060 shares of the company’s stock, valued at $1,240,805.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Spyre Therapeutics Stock Performance

Shares of SYRE stock opened at $34.16 on Thursday. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of -0.48 and a beta of 2.92. Spyre Therapeutics, Inc. has a one year low of $8.43 and a one year high of $47.97. The company’s 50-day simple moving average is $29.51 and its 200-day simple moving average is $30.31.

Spyre Therapeutics (NASDAQ:SYRE) last issued its earnings results on Wednesday, August 7th. The company reported ($0.86) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.04. As a group, research analysts forecast that Spyre Therapeutics, Inc. will post -3.68 EPS for the current year.

Hedge Funds Weigh In On Spyre Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank bought a new position in shares of Spyre Therapeutics in the 2nd quarter worth about $28,000. Quest Partners LLC acquired a new stake in Spyre Therapeutics during the second quarter worth about $36,000. SG Americas Securities LLC bought a new position in Spyre Therapeutics in the second quarter worth about $130,000. Carlyle Group Inc. acquired a new position in Spyre Therapeutics in the second quarter valued at approximately $227,000. Finally, Profund Advisors LLC bought a new stake in Spyre Therapeutics in the second quarter valued at $296,000. Institutional investors and hedge funds own 80.39% of the company’s stock.

Wall Street Analyst Weigh In

SYRE has been the topic of a number of recent analyst reports. Evercore ISI assumed coverage on shares of Spyre Therapeutics in a report on Tuesday, July 16th. They issued an “outperform” rating on the stock. Wedbush started coverage on Spyre Therapeutics in a research note on Wednesday, September 4th. They issued an “outperform” rating and a $45.00 price target on the stock. Finally, Guggenheim raised their price objective on Spyre Therapeutics from $50.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $46.43.

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).