Spyre Therapeutics, Inc. $SYRE Shares Bought by Profund Advisors LLC

Profund Advisors LLC boosted its holdings in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 55.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,593 shares of the company’s stock after acquiring an additional 7,370 shares during the period. Profund Advisors LLC’s holdings in Spyre Therapeutics were worth $675,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SYRE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Spyre Therapeutics by 18.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,018 shares of the company’s stock worth $442,000 after acquiring an additional 4,277 shares during the last quarter. JPMorgan Chase & Co. raised its position in Spyre Therapeutics by 13.8% during the second quarter. JPMorgan Chase & Co. now owns 47,279 shares of the company’s stock worth $708,000 after acquiring an additional 5,723 shares during the last quarter. Rhumbline Advisers raised its position in Spyre Therapeutics by 30.6% during the second 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 last quarter. New York State Common Retirement Fund raised its position in Spyre Therapeutics by 61.4% during the second 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 last quarter. Finally, Invesco Ltd. raised its position in Spyre Therapeutics by 37.6% during the second quarter. Invesco Ltd. now owns 34,680 shares of the company’s stock worth $519,000 after acquiring an additional 9,473 shares during the last quarter. Institutional investors and hedge funds own 80.39% of the company’s stock.

Insider Activity

In other news, insider Sheldon Sloan sold 78,333 shares of the business’s stock in a transaction that occurred 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 owned 78,333 shares of the company’s stock, valued at $5,600,809.50. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 that occurred on Monday, March 2nd. The shares were sold at an average price of $42.19, for a total transaction of $632,850.00. Following the completion of the transaction, the chief executive officer directly owned 642,540 shares of the company’s stock, valued at approximately $27,108,762.60. This represents a 2.28% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 233,791 shares of company stock worth $15,757,860. Corporate insiders own 15.69% of the company’s stock.

Spyre Therapeutics Price Performance

NASDAQ:SYRE opened at $74.05 on Friday. The firm has a 50 day simple moving average of $60.51 and a 200-day simple moving average of $42.41. The firm has a market cap of $6.43 billion, a PE ratio of -35.60 and a beta of 3.12. Spyre Therapeutics, Inc. has a 1-year low of $13.93 and a 1-year high of $78.80.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.08). As a group, sell-side analysts expect that Spyre Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SYRE has been the subject of a number of research reports. Raymond James Financial initiated coverage on shares of Spyre Therapeutics in a research report on Monday, April 13th. They set a “strong-buy” rating and a $80.00 target price for the company. Wedbush lifted their target price on shares of Spyre Therapeutics from $65.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. Wall Street Zen cut shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Robert W. Baird lifted their target price 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 boosted their price objective on shares of Spyre Therapeutics from $50.00 to $90.00 and gave the company 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 issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Spyre Therapeutics presently has an average rating of “Buy” and an average price target of $90.25.

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.