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

Spyre Therapeutics, Inc. (NASDAQ:SYRE) Director Michael Thomas Henderson sold 20,000 shares of Spyre Therapeutics stock in a transaction dated 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 owned 68,606 shares of the company’s stock, valued at $6,860,600. This trade represents a 22.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $5,952,000.00.

Spyre Therapeutics Trading Down 3.3%

Shares of SYRE opened at $97.05 on Wednesday. Spyre Therapeutics, Inc. has a 12 month low of $14.00 and a 12 month high of $102.06. The firm’s 50 day moving average is $75.09 and its 200-day moving average is $50.88. The stock has a market capitalization of $8.43 billion, a PE ratio of -46.66 and a beta of 3.05.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings results 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). Equities research analysts predict that Spyre Therapeutics, Inc. will post -2.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SYRE has been the topic of several analyst reports. Robert W. Baird increased their target price on Spyre Therapeutics from $65.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, April 14th. Wedbush reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Spyre Therapeutics in a research report on Tuesday, June 16th. Citigroup increased their price objective on shares of Spyre Therapeutics from $64.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. BTIG Research boosted their target price on shares of Spyre Therapeutics from $98.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Finally, Leerink Partners increased their price target 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 issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $95.83.

Hedge Funds Weigh In On Spyre Therapeutics

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