Spyre Therapeutics (NASDAQ:SYRE) Director Michael Thomas Henderson Sells 80,000 Shares

Spyre Therapeutics, Inc. (NASDAQ:SYRE) Director Michael Thomas Henderson sold 80,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $74.40, for a total transaction of $5,952,000.00. Following the sale, the director directly owned 88,606 shares of the company’s stock, valued at approximately $6,592,286.40. This trade represents a 47.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Spyre Therapeutics Stock Performance

Shares of NASDAQ:SYRE opened at $75.04 on Friday. Spyre Therapeutics, Inc. has a 52 week low of $12.94 and a 52 week high of $76.00. The company has a market capitalization of $6.52 billion, a PE ratio of -36.08 and a beta of 3.12. The company has a 50 day moving average price of $53.47 and a two-hundred day moving average price of $38.67.

Spyre Therapeutics (NASDAQ:SYRE) last issued its earnings results on Tuesday, May 5th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.08). On average, sell-side analysts forecast that Spyre Therapeutics, Inc. will post -2.78 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. RTW Investments LP boosted its holdings in shares of Spyre Therapeutics by 15.2% in the fourth quarter. RTW Investments LP now owns 4,171,996 shares of the company’s stock valued at $136,675,000 after buying an additional 550,000 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Spyre Therapeutics by 32.3% in the fourth quarter. Vanguard Group Inc. now owns 4,035,074 shares of the company’s stock valued at $132,189,000 after buying an additional 984,344 shares during the period. Capital International Investors boosted its holdings in Spyre Therapeutics by 46.0% during the fourth quarter. Capital International Investors now owns 3,492,541 shares of the company’s stock worth $114,416,000 after purchasing an additional 1,100,000 shares during the last quarter. Perceptive Advisors LLC boosted its holdings in Spyre Therapeutics by 149.6% during the fourth quarter. Perceptive Advisors LLC now owns 3,069,225 shares of the company’s stock worth $100,548,000 after purchasing an additional 1,839,780 shares during the last quarter. Finally, Commodore Capital LP boosted its holdings in Spyre Therapeutics by 20.1% during the fourth quarter. Commodore Capital LP now owns 2,388,245 shares of the company’s stock worth $78,239,000 after purchasing an additional 400,161 shares during the last quarter. Institutional investors and hedge funds own 80.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on SYRE. Wells Fargo & Company upped their target price on shares of Spyre Therapeutics from $50.00 to $90.00 and gave the company an “overweight” rating in a research note on Tuesday, April 14th. BTIG Research upped their target price on shares of Spyre Therapeutics from $70.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, April 13th. JonesTrading upped their target price on shares of Spyre Therapeutics from $64.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Citigroup upped their target price on shares of Spyre Therapeutics from $64.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Raymond James Financial started coverage on shares of Spyre Therapeutics in a research note on Monday, April 13th. They issued a “strong-buy” rating and a $80.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $89.08.

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.