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

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

Spyre Therapeutics Price Performance

Shares of Spyre Therapeutics stock traded up $1.94 during trading hours on Friday, reaching $75.04. The company had a trading volume of 840,580 shares, compared to its average volume of 1,570,863. Spyre Therapeutics, Inc. has a one year low of $12.94 and a one year high of $76.00. The business has a fifty day simple moving average of $53.47 and a 200 day simple moving average of $38.67. The firm has a market cap of $6.52 billion, a PE ratio of -36.08 and a beta of 3.12.

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). On average, research analysts forecast that Spyre Therapeutics, Inc. will post -2.78 EPS for the current year.

Institutional Investors Weigh In On Spyre Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Summit Securities Group LLC purchased a new stake in shares of Spyre Therapeutics in the first quarter worth $28,000. KBC Group NV purchased a new stake in shares of Spyre Therapeutics in the first quarter worth $69,000. Persistent Asset Partners Ltd purchased a new stake in shares of Spyre Therapeutics in the fourth quarter worth $74,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Spyre Therapeutics by 61.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,770 shares of the company’s stock worth $124,000 after buying an additional 1,435 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Spyre Therapeutics in the first quarter worth $196,000. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Analyst Upgrades and Downgrades

SYRE has been the subject of a number of analyst reports. Citigroup raised their price target on Spyre Therapeutics from $64.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday. Wedbush raised their price target on Spyre Therapeutics from $65.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Robert W. Baird raised their price target on Spyre Therapeutics from $65.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, April 14th. Leerink Partners raised their price target on Spyre Therapeutics from $49.00 to $106.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Finally, JonesTrading increased their price objective on Spyre Therapeutics from $64.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Two 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 stock. Based on data from MarketBeat.com, Spyre Therapeutics currently has an average rating of “Buy” and an average price target 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.