Spyre Therapeutics (NASDAQ:SYRE) Director Sells 20,000 Shares

Spyre Therapeutics, Inc. (NASDAQ:SYRE) Director Michael Thomas Henderson sold 20,000 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $100.00, for a total value of $2,000,000.00. Following the completion of the sale, the director owned 68,606 shares of the company’s stock, valued at approximately $6,860,600. This represents a 22.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 stock was sold at an average price of $74.40, for a total value of $5,952,000.00.

Spyre Therapeutics Stock Down 3.3%

NASDAQ:SYRE traded down $3.27 on Tuesday, hitting $97.05. The stock had a trading volume of 2,617,255 shares, compared to its average volume of 1,184,438. Spyre Therapeutics, Inc. has a 52 week low of $14.00 and a 52 week high of $102.06. The business’s fifty day moving average is $75.09 and its 200 day moving average is $50.88. The company has a market cap of $8.43 billion, a PE ratio of -46.66 and a beta of 3.05.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.08). Equities analysts predict that Spyre Therapeutics, Inc. will post -2.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SYRE has been the topic of several research reports. Wall Street Zen downgraded shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Leerink Partners lifted their price objective on shares of Spyre Therapeutics from $49.00 to $106.00 and gave the company an “outperform” rating in a report on Monday, April 13th. Citigroup boosted their target price on shares of Spyre Therapeutics from $64.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Stifel Nicolaus raised their price target on shares of Spyre Therapeutics from $92.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Wedbush reiterated an “outperform” rating and set a $100.00 price target on shares of Spyre Therapeutics in a research note on Tuesday, June 16th. 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 stock currently has an average rating of “Buy” and a consensus target price of $95.83.

Hedge Funds Weigh In On Spyre Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Seven Fleet Capital Management LP purchased a new stake in shares of Spyre Therapeutics during the 1st quarter valued at $993,000. Perceptive Advisors LLC grew its position in Spyre Therapeutics by 23.3% during the first quarter. Perceptive Advisors LLC now owns 3,783,225 shares of the company’s stock valued at $190,826,000 after buying an additional 714,000 shares during the period. Bank of America Corp DE increased its holdings in Spyre Therapeutics by 192.6% during the first quarter. Bank of America Corp DE now owns 1,228,093 shares of the company’s stock worth $61,945,000 after buying an additional 808,366 shares during the last quarter. Stempoint Capital LP raised its position in Spyre Therapeutics by 417.7% in the first quarter. Stempoint Capital LP now owns 167,606 shares of the company’s stock worth $8,454,000 after acquiring an additional 135,229 shares during the period. Finally, ADAR1 Capital Management LLC raised its position in Spyre Therapeutics by 893.6% in the first quarter. ADAR1 Capital Management LLC now owns 338,323 shares of the company’s stock worth $17,065,000 after acquiring an additional 304,272 shares during the period. 80.39% of the stock is owned by hedge funds and other institutional investors.

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.