Key Points
- Spyre Therapeutics director Michael Thomas Henderson sold 80,000 shares on May 8 at an average price of $74.40, totaling about $5.95 million. The sale was made under a pre-arranged Rule 10b5-1 plan.
- SYRE shares rose 2.7% and recently traded near their 12-month high of $76.00, with the stock opening at $75.04. The company now has a market capitalization of about $6.52 billion.
- Spyre Therapeutics reported a quarterly loss of $0.74 per share, missing analyst estimates, while Wall Street remains generally bullish. The stock has a consensus rating of Buy and an average price target of $89.08.
Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) Director Michael Thomas Henderson sold 80,000 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $74.40, for a total transaction of $5,952,000.00. Following the transaction, the director owned 88,606 shares of the company's stock, valued at $6,592,286.40. The trade was a 47.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Spyre Therapeutics Trading Up 2.7%
Shares of SYRE opened at $75.04 on Friday. Spyre Therapeutics, Inc. has a 12 month low of $12.94 and a 12 month high of $76.00. The firm has a fifty day simple moving average of $53.47 and a 200 day simple moving average of $38.67. The stock has a market capitalization of $6.52 billion, a price-to-earnings ratio of -36.08 and a beta of 3.12.
Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.08). As a group, research analysts predict that Spyre Therapeutics, Inc. will post -2.78 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several brokerages recently commented on SYRE. Raymond James Financial began coverage on shares of Spyre Therapeutics in a report on Monday, April 13th. They set a "strong-buy" rating and a $80.00 target price for the company. Leerink Partners upped 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. JonesTrading upped their price target on shares of Spyre Therapeutics from $64.00 to $95.00 and gave the stock a "buy" rating in a research report on Friday, April 17th. Robert W. Baird upped their price target on shares of Spyre Therapeutics from $65.00 to $90.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 14th. Finally, Wells Fargo & Company upped their price target on shares of Spyre Therapeutics from $50.00 to $90.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 14th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $89.08.
Read Our Latest Report on Spyre Therapeutics
Institutional Trading of Spyre Therapeutics
Several institutional investors and hedge funds have recently added to or reduced their stakes in SYRE. Summit Securities Group LLC bought a new stake in Spyre Therapeutics during the first quarter worth $28,000. KBC Group NV bought a new stake in Spyre Therapeutics during the first quarter worth $69,000. Russell Investments Group Ltd. raised its position 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 valued at $71,000 after purchasing an additional 4,092 shares during the period. Persistent Asset Partners Ltd bought a new position in shares of Spyre Therapeutics in the fourth quarter valued at about $74,000. Finally, Tower Research Capital LLC TRC raised its position in shares of 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 purchasing an additional 3,725 shares during the period. 80.39% of the stock is owned by institutional investors.
About Spyre Therapeutics
(
Get Free Report)
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.
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