Key Points
- Spyre Therapeutics director Michael Thomas Henderson sold 20,000 shares at $100 each, totaling $2 million, in a transaction disclosed to the SEC under a pre-arranged Rule 10b5-1 plan. After the sale, he still held 68,606 shares, though his ownership fell by 22.57%.
- The stock was trading around $97.05 and had been volatile, with a 12-month range of $14.00 to $102.06. Spyre also reported a quarterly EPS loss of ($0.74), wider than analysts expected.
- Analyst sentiment remains mixed but generally positive, with a consensus Buy rating and a consensus price target of $95.83. Institutional ownership is high, at 80.39%, with several large funds increasing their stakes recently.
Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) 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 transaction of $2,000,000.00. Following the sale, the director owned 68,606 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 shares were 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. The firm's fifty day simple moving average is $75.09 and its two-hundred day simple moving average is $50.88. Spyre Therapeutics, Inc. has a 12 month low of $14.00 and a 12 month high of $102.06. The stock has a market capitalization of $8.43 billion, a P/E ratio of -46.66 and a beta of 3.05.
Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last announced its quarterly earnings data 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). As a group, research analysts predict that Spyre Therapeutics, Inc. will post -2.86 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
SYRE has been the subject of several recent analyst reports. Wall Street Zen downgraded shares of Spyre Therapeutics from a "hold" rating to a "sell" rating in a research report on Sunday, April 26th. Weiss Ratings restated a "sell (d-)" rating on shares of Spyre Therapeutics in a report on Thursday, June 4th. Raymond James Financial started coverage on shares of Spyre Therapeutics in a research note on Monday, April 13th. They issued a "strong-buy" rating and a $80.00 price target for the company. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Spyre Therapeutics from $115.00 to $135.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Wells Fargo & Company raised their target price on Spyre Therapeutics from $50.00 to $90.00 and gave the company an "overweight" rating in a research note on Tuesday, April 14th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $95.83.
Check Out Our Latest Stock Report on SYRE
Hedge Funds Weigh In On Spyre Therapeutics
A number of large investors have recently modified their holdings of the company. RTW Investments LP grew its position in Spyre Therapeutics by 15.2% in the 4th quarter. RTW Investments LP now owns 4,171,996 shares of the company's stock valued at $136,675,000 after purchasing an additional 550,000 shares during the period. Vanguard Group Inc. raised its holdings in Spyre Therapeutics by 32.3% during the fourth quarter. Vanguard Group Inc. now owns 4,035,074 shares of the company's stock worth $132,189,000 after buying an additional 984,344 shares during the last quarter. Perceptive Advisors LLC raised its holdings in Spyre Therapeutics by 23.3% during the first quarter. Perceptive Advisors LLC now owns 3,783,225 shares of the company's stock worth $190,826,000 after buying an additional 714,000 shares during the last quarter. Capital International Investors lifted its stake in shares of Spyre Therapeutics by 46.0% in the fourth quarter. Capital International Investors now owns 3,492,541 shares of the company's stock valued at $114,416,000 after buying an additional 1,100,000 shares in the last quarter. Finally, Commodore Capital LP lifted its stake in shares of Spyre Therapeutics by 20.1% in the fourth quarter. Commodore Capital LP now owns 2,388,245 shares of the company's stock valued at $78,239,000 after buying an additional 400,161 shares in the last quarter. 80.39% of the stock is currently owned by institutional investors.
Spyre Therapeutics Company Profile
(
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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