PSP Research LLC Takes Position in Spyre Therapeutics, Inc. $SYRE

PSP Research LLC acquired a new stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 15,840 shares of the company’s stock, valued at approximately $519,000.

Other hedge funds also recently modified their holdings of the company. Russell Investments Group Ltd. boosted 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 acquiring an additional 4,092 shares during the period. Tower Research Capital LLC TRC boosted 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 acquiring an additional 3,725 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Spyre Therapeutics by 61.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,770 shares of the company’s stock valued at $124,000 after acquiring an additional 1,435 shares during the period. Man Group plc bought a new stake in shares of Spyre Therapeutics in the second quarter valued at approximately $162,000. Finally, Profund Advisors LLC boosted its position in shares of Spyre Therapeutics by 19.7% in the third quarter. Profund Advisors LLC now owns 13,223 shares of the company’s stock valued at $222,000 after acquiring an additional 2,180 shares during the period. 80.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SYRE. Jefferies Financial Group increased their price objective on Spyre Therapeutics from $47.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Citigroup increased their price objective on Spyre Therapeutics from $64.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $102.00 target price on shares of Spyre Therapeutics in a research note on Tuesday, May 12th. Wall Street Zen lowered Spyre Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Finally, JonesTrading upped their target price on Spyre Therapeutics from $64.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Two investment 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $90.25.

Spyre Therapeutics Stock Performance

Shares of NASDAQ SYRE opened at $66.62 on Wednesday. The stock has a market cap of $5.79 billion, a PE ratio of -32.03 and a beta of 3.12. The business has a fifty day moving average of $58.59 and a two-hundred day moving average of $41.50. Spyre Therapeutics, Inc. has a 52-week low of $13.93 and a 52-week high of $78.80.

Spyre Therapeutics (NASDAQ:SYRE) last issued 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). Analysts predict that Spyre Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Insider Activity

In other Spyre Therapeutics news, CFO Scott L. Burrows sold 12,500 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $71.37, for a total transaction of $892,125.00. Following the sale, the chief financial officer directly owned 97,994 shares of the company’s stock, valued at approximately $6,993,831.78. This represents a 11.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cameron Turtle sold 15,000 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $71.37, for a total transaction of $1,070,550.00. Following the sale, the chief executive officer directly owned 612,540 shares in the company, valued at $43,716,979.80. This represents a 2.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 233,791 shares of company stock valued at $15,757,860 over the last three months. 15.69% of the stock is owned by corporate insiders.

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.