Spyre Therapeutics, Inc. $SYRE Position Trimmed by Commodore Capital LP

Commodore Capital LP lessened its stake in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 19.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 1,912,380 shares of the company’s stock after selling 475,865 shares during the period. Spyre Therapeutics accounts for 5.6% of Commodore Capital LP’s holdings, making the stock its 5th biggest position. Commodore Capital LP’s holdings in Spyre Therapeutics were worth $96,460,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SYRE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Spyre Therapeutics by 18.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,018 shares of the company’s stock worth $442,000 after buying an additional 4,277 shares during the period. JPMorgan Chase & Co. increased its holdings in Spyre Therapeutics by 13.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 47,279 shares of the company’s stock worth $708,000 after acquiring an additional 5,723 shares in the last quarter. Rhumbline Advisers raised its stake in Spyre Therapeutics by 30.6% during the 2nd quarter. Rhumbline Advisers now owns 73,168 shares of the company’s stock worth $1,095,000 after acquiring an additional 17,145 shares during the period. New York State Common Retirement Fund raised its stake in Spyre Therapeutics by 61.4% during the 2nd quarter. New York State Common Retirement Fund now owns 16,565 shares of the company’s stock worth $248,000 after acquiring an additional 6,300 shares during the period. Finally, Invesco Ltd. lifted its holdings in Spyre Therapeutics by 37.6% during the second quarter. Invesco Ltd. now owns 34,680 shares of the company’s stock valued at $519,000 after purchasing an additional 9,473 shares in the last quarter. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Insider Transactions at Spyre Therapeutics

In related news, insider Sheldon Sloan sold 78,333 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $71.50, for a total value of $5,600,809.50. Following the completion of the transaction, the insider directly owned 78,333 shares of the company’s stock, valued at approximately $5,600,809.50. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cameron Turtle sold 15,000 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $70.43, for a total transaction of $1,056,450.00. Following the completion of the sale, the chief executive officer owned 597,540 shares in the company, valued at $42,084,742.20. This represents a 2.45% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 282,500 shares of company stock valued at $21,741,101 over the last quarter. 15.69% of the stock is owned by insiders.

Spyre Therapeutics Stock Performance

Shares of Spyre Therapeutics stock opened at $102.13 on Monday. The stock has a 50 day moving average of $85.42 and a 200 day moving average of $60.79. Spyre Therapeutics, Inc. has a 12 month low of $14.51 and a 12 month high of $105.09. The firm has a market cap of $8.98 billion, a PE ratio of -49.10 and a beta of 3.02.

Spyre Therapeutics (NASDAQ:SYRE) last released 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, equities research analysts forecast that Spyre Therapeutics, Inc. will post -2.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SYRE shares. Wall Street Zen lowered shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Stifel Nicolaus raised their price objective on shares of Spyre Therapeutics from $92.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. BTIG Research lifted their target price on shares of Spyre Therapeutics from $98.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Citigroup upped their target price on shares of Spyre Therapeutics from $64.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Spyre Therapeutics in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Spyre Therapeutics has an average rating of “Moderate Buy” and an average price target of $101.42.

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.