SG Americas Securities LLC Trims Stake in Spyre Therapeutics, Inc. $SYRE

SG Americas Securities LLC reduced its holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 42.6% during the first quarter, Holdings Channel.com reports. The fund owned 13,396 shares of the company’s stock after selling 9,947 shares during the quarter. SG Americas Securities LLC’s holdings in Spyre Therapeutics were worth $676,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Perceptive Advisors LLC boosted its position in shares of Spyre Therapeutics by 149.6% during the 4th quarter. Perceptive Advisors LLC now owns 3,069,225 shares of the company’s stock valued at $100,548,000 after acquiring an additional 1,839,780 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Spyre Therapeutics by 13,969.3% in the fourth quarter. Janus Henderson Group PLC now owns 1,829,009 shares of the company’s stock worth $59,918,000 after purchasing an additional 1,816,009 shares during the last quarter. RA Capital Management L.P. bought a new position in shares of Spyre Therapeutics in the 4th quarter worth $53,124,000. Remedium Capital Partners LLC bought a new position in shares of Spyre Therapeutics in the 4th quarter worth $47,706,000. Finally, TCG Crossover Management LLC purchased a new stake in shares of Spyre Therapeutics during the 3rd quarter valued at $18,446,000. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Analyst Upgrades and Downgrades

SYRE has been the subject of several research reports. BTIG Research upped their target price on shares of Spyre Therapeutics from $98.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Jefferies Financial Group lifted their price target on Spyre Therapeutics from $47.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Robert W. Baird lifted their price target on shares of Spyre Therapeutics from $65.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 14th. Leerink Partners boosted their price objective on shares of Spyre Therapeutics from $49.00 to $106.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Finally, Wall Street Zen cut shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $95.83.

Insider Buying and Selling at Spyre Therapeutics

In related news, Director Michael Thomas Henderson sold 80,000 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $74.40, for a total transaction of $5,952,000.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Scott L. Burrows sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $87.13, for a total value of $1,306,950.00. Following the transaction, the chief financial officer directly owned 97,994 shares of the company’s stock, valued at approximately $8,538,217.22. This trade represents a 13.28% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 282,500 shares of company stock valued at $21,741,101. Insiders own 15.69% of the company’s stock.

Spyre Therapeutics Stock Down 1.3%

Shares of SYRE traded down $1.17 during mid-day trading on Tuesday, hitting $87.57. 35,364 shares of the company’s stock traded hands, compared to its average volume of 1,084,039. The firm has a market capitalization of $7.70 billion, a P/E ratio of -41.85 and a beta of 3.02. The business’s 50-day moving average price is $78.43 and its 200-day moving average price is $54.32. Spyre Therapeutics, Inc. has a 1 year low of $14.51 and a 1 year high of $102.06.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.08). Sell-side analysts anticipate that Spyre Therapeutics, Inc. will post -2.86 earnings per share for the current fiscal year.

Spyre Therapeutics 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.