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

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 sale, the director directly owned 68,606 shares in the company, valued at approximately $6,860,600. This trade represents a 22.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through 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 stock was sold at an average price of $74.40, for a total value of $5,952,000.00.

Spyre Therapeutics Stock Down 11.1%

SYRE stock opened at $86.24 on Thursday. The company has a market cap of $7.49 billion, a PE ratio of -41.46 and a beta of 3.05. The business has a 50-day simple moving average of $75.55 and a 200 day simple moving average of $51.25. Spyre Therapeutics, Inc. has a 52 week low of $14.00 and a 52 week high of $102.06.

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

Hedge Funds Weigh In On Spyre Therapeutics

A number of hedge funds have recently modified their holdings of the business. RTW Investments LP grew its stake 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 worth $136,675,000 after purchasing an additional 550,000 shares during the last quarter. Vanguard Group Inc. raised its position in Spyre Therapeutics by 32.3% during the 4th quarter. Vanguard Group Inc. now owns 4,035,074 shares of the company’s stock worth $132,189,000 after purchasing an additional 984,344 shares during the last quarter. Perceptive Advisors LLC raised its position in Spyre Therapeutics by 23.3% during the 1st quarter. Perceptive Advisors LLC now owns 3,783,225 shares of the company’s stock worth $190,826,000 after purchasing an additional 714,000 shares during the last quarter. Capital International Investors lifted its holdings in Spyre Therapeutics by 46.0% during the 4th quarter. Capital International Investors now owns 3,492,541 shares of the company’s stock worth $114,416,000 after buying an additional 1,100,000 shares during the period. Finally, Commodore Capital LP lifted its holdings in Spyre Therapeutics by 20.1% during the 4th quarter. Commodore Capital LP now owns 2,388,245 shares of the company’s stock worth $78,239,000 after buying an additional 400,161 shares during the period. Institutional investors and hedge funds own 80.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Stifel Nicolaus upped their price target on shares of Spyre Therapeutics from $92.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. 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 research note on Monday, April 13th. Wedbush restated an “outperform” rating and set a $100.00 price objective on shares of Spyre Therapeutics in a research report on Tuesday, June 16th. Jefferies Financial Group upped their target price on Spyre Therapeutics from $47.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Finally, Robert W. Baird raised their target price on Spyre Therapeutics from $65.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, April 14th. Two equities research 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $95.83.

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.