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

Commodore Capital LP lifted its holdings in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 20.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,388,245 shares of the company’s stock after acquiring an additional 400,161 shares during the period. Spyre Therapeutics accounts for about 5.2% of Commodore Capital LP’s holdings, making the stock its 5th biggest position. Commodore Capital LP owned approximately 3.08% of Spyre Therapeutics worth $78,239,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SYRE. RA Capital Management L.P. purchased a new position in shares of Spyre Therapeutics during the fourth quarter worth approximately $53,124,000. Remedium Capital Partners LLC acquired a new stake in shares of Spyre Therapeutics during the fourth quarter worth $47,706,000. TCG Crossover Management LLC acquired a new stake in shares of Spyre Therapeutics during the third quarter worth $18,446,000. Capital International Investors lifted its holdings in shares of Spyre Therapeutics by 46.0% during the fourth quarter. Capital International Investors now owns 3,492,541 shares of the company’s stock worth $114,416,000 after purchasing an additional 1,100,000 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of 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 purchasing an additional 984,344 shares during the period. 80.39% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Spyre Therapeutics news, CFO Scott L. Burrows sold 7,500 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $71.06, for a total value of $532,950.00. Following the completion of the sale, the chief financial officer owned 97,994 shares of the company’s stock, valued at approximately $6,963,453.64. This trade represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sheldon Sloan sold 8,333 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $75.00, for a total value of $624,975.00. Following the completion of the sale, the insider directly owned 8,333 shares of the company’s stock, valued at approximately $624,975. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 247,124 shares of company stock worth $17,237,760 in the last ninety days. 15.69% of the stock is owned by insiders.

Spyre Therapeutics Stock Performance

Spyre Therapeutics stock opened at $87.49 on Thursday. Spyre Therapeutics, Inc. has a one year low of $14.00 and a one year high of $88.03. The business has a fifty day moving average of $71.74 and a two-hundred day moving average of $49.08. The company has a market cap of $7.60 billion, a P/E ratio of -42.06 and a beta of 3.05.

Spyre Therapeutics (NASDAQ:SYRE) last released its earnings results on Tuesday, May 5th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.08). Sell-side analysts predict that Spyre Therapeutics, Inc. will post -2.86 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SYRE shares. BTIG Research increased their price target on Spyre Therapeutics from $98.00 to $112.00 and gave the stock a “buy” rating in a report on Monday. Leerink Partners increased their price target on Spyre Therapeutics from $49.00 to $106.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Deutsche Bank Aktiengesellschaft increased their price target on Spyre Therapeutics from $102.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Wall Street Zen downgraded Spyre Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Finally, Robert W. Baird increased their price target on Spyre Therapeutics from $65.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, April 14th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $94.17.

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.