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

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 value of $2,000,000.00. Following the transaction, the director owned 68,606 shares in the company, valued at $6,860,600. The trade was a 22.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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

NASDAQ:SYRE traded down $3.27 during mid-day trading on Tuesday, reaching $97.05. 2,617,255 shares of the company’s stock were exchanged, compared to its average volume of 1,184,438. Spyre Therapeutics, Inc. has a one year low of $14.00 and a one year high of $102.06. The firm has a market capitalization of $8.43 billion, a PE ratio of -46.66 and a beta of 3.05. The business’s fifty day simple moving average is $75.09 and its two-hundred day simple moving average is $50.88.

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Jefferies Financial Group upped their price target on shares of Spyre Therapeutics from $47.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Raymond James Financial assumed coverage on Spyre Therapeutics in a research report on Monday, April 13th. They set a “strong-buy” rating and a $80.00 price objective on the stock. Leerink Partners upped their target price on Spyre Therapeutics from $49.00 to $106.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. BTIG Research increased their target price on Spyre Therapeutics from $98.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Finally, Wedbush reissued an “outperform” rating and set a $100.00 price target on shares of Spyre Therapeutics in a research note on Tuesday, June 16th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $95.83.

Institutional Trading of Spyre Therapeutics

Several institutional investors have recently modified their holdings of SYRE. Summit Securities Group LLC bought a new position in shares of Spyre Therapeutics during the 1st quarter worth approximately $28,000. KBC Group NV bought a new stake in shares of Spyre Therapeutics in the 1st quarter valued at $69,000. Russell Investments Group Ltd. lifted its position in shares of Spyre Therapeutics by 2,881.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company’s stock valued at $71,000 after acquiring an additional 4,092 shares during the period. Persistent Asset Partners Ltd acquired a new position in shares of Spyre Therapeutics during the 4th quarter valued at $74,000. Finally, Tower Research Capital LLC TRC boosted its stake in Spyre Therapeutics by 182.2% during the second quarter. Tower Research Capital LLC TRC now owns 5,769 shares of the company’s stock worth $86,000 after acquiring an additional 3,725 shares in the last quarter. Institutional investors own 80.39% of the company’s stock.

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.