Spyre Therapeutics (NASDAQ:SYRE) Director Sells $5,952,000.00 in Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) Director Michael Thomas Henderson sold 80,000 shares of Spyre Therapeutics stock in a transaction that occurred 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 sale, the director directly owned 88,606 shares in the company, valued at $6,592,286.40. This represents a 47.45% decrease in their ownership of the stock. The sale was disclosed in a legal 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.

Spyre Therapeutics Stock Performance

Shares of SYRE stock opened at $75.04 on Monday. Spyre Therapeutics, Inc. has a fifty-two week low of $12.94 and a fifty-two week high of $76.00. The stock’s fifty day moving average is $53.47 and its two-hundred day moving average is $38.67. The firm has a market capitalization of $6.52 billion, a P/E ratio of -36.08 and a beta of 3.12.

Spyre Therapeutics (NASDAQ:SYRE) last issued its 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, equities analysts forecast that Spyre Therapeutics, Inc. will post -2.75 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. JonesTrading increased their price target on Spyre Therapeutics from $64.00 to $95.00 and gave the company a “buy” rating in a report on Friday, April 17th. Raymond James Financial began coverage on Spyre Therapeutics in a report on Monday, April 13th. They issued a “strong-buy” rating and a $80.00 target price for the company. Stifel Nicolaus raised their target price on Spyre Therapeutics from $92.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday. Robert W. Baird lifted 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. Finally, Wall Street Zen cut shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned 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 an average price target of $89.08.

Hedge Funds Weigh In On Spyre Therapeutics

Hedge funds have recently modified their holdings of the business. Optimize Financial Inc increased its position in shares of Spyre Therapeutics by 1.5% during the 4th quarter. Optimize Financial Inc now owns 25,331 shares of the company’s stock worth $830,000 after purchasing an additional 364 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in Spyre Therapeutics by 0.5% during the third quarter. Mercer Global Advisors Inc. ADV now owns 106,664 shares of the company’s stock worth $1,788,000 after buying an additional 522 shares during the period. Summit Securities Group LLC purchased a new position in Spyre Therapeutics during the first quarter worth about $28,000. California State Teachers Retirement System increased its position in shares of Spyre Therapeutics by 1.8% during the second quarter. California State Teachers Retirement System now owns 33,201 shares of the company’s stock valued at $497,000 after acquiring an additional 603 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Spyre Therapeutics by 4.5% during the fourth quarter. AQR Capital Management LLC now owns 17,820 shares of the company’s stock valued at $584,000 after acquiring an additional 773 shares during the last quarter. 80.39% of the stock is currently owned by hedge funds and other institutional investors.

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.