Spyre Therapeutics (NASDAQ:SYRE) Director Sells $2,000,000.00 in Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) Director Michael Thomas Henderson sold 20,000 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $100.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the director directly owned 68,606 shares of the company’s stock, valued at approximately $6,860,600. This trade represents a 22.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Thomas Henderson also recently made the following trade(s):

• On Friday, May 8th, Michael Thomas Henderson sold 80,000 shares of Spyre Therapeutics stock. The shares were sold at an average price of $74.40, for a total transaction of $5,952,000.00.

Spyre Therapeutics Stock Performance

Shares of Spyre Therapeutics stock opened at $88.67 on Friday. The company has a market capitalization of $7.70 billion, a P/E ratio of -42.63 and a beta of 3.05. The company has a fifty day moving average of $76.05 and a 200 day moving average of $51.64. Spyre Therapeutics, Inc. has a fifty-two week low of $14.00 and a fifty-two week high of $102.06.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.08). Analysts forecast that Spyre Therapeutics, Inc. will post -2.86 EPS for the current year.

Hedge Funds Weigh In On Spyre Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SYRE. Seven Fleet Capital Management LP purchased a new position in Spyre Therapeutics during the 1st quarter valued at approximately $993,000. Perceptive Advisors LLC raised its holdings in shares of 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 in the last quarter. Bank of America Corp DE boosted its position in shares of Spyre Therapeutics by 192.6% during the 1st quarter. Bank of America Corp DE now owns 1,228,093 shares of the company’s stock valued at $61,945,000 after acquiring an additional 808,366 shares during the last quarter. Stempoint Capital LP boosted its position in shares of Spyre Therapeutics by 417.7% during the 1st quarter. Stempoint Capital LP now owns 167,606 shares of the company’s stock valued at $8,454,000 after acquiring an additional 135,229 shares during the last quarter. Finally, ADAR1 Capital Management LLC grew its holdings in shares of Spyre Therapeutics by 893.6% in the first quarter. ADAR1 Capital Management LLC now owns 338,323 shares of the company’s stock valued at $17,065,000 after purchasing an additional 304,272 shares in the last quarter. 80.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SYRE. Stifel Nicolaus boosted 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. Wall Street Zen lowered shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Robert W. Baird lifted their price objective on shares of Spyre Therapeutics from $65.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, April 14th. BTIG Research boosted their target price on shares of Spyre Therapeutics from $98.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, June 15th. Finally, Leerink Partners upped their target price on shares of Spyre Therapeutics from $49.00 to $106.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $95.83.

About Spyre Therapeutics

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.