Optimize Financial Inc Invests $418,000 in Spyre Therapeutics, Inc. $SYRE

Optimize Financial Inc purchased a new position in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 24,967 shares of the company’s stock, valued at approximately $418,000.

Several other institutional investors also recently bought and sold shares of the company. Jefferies Financial Group Inc. raised its holdings in shares of Spyre Therapeutics by 11.2% during the second quarter. Jefferies Financial Group Inc. now owns 1,388,854 shares of the company’s stock valued at $20,791,000 after acquiring an additional 140,000 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Spyre Therapeutics by 15.8% during the second quarter. Geode Capital Management LLC now owns 1,227,232 shares of the company’s stock worth $18,373,000 after purchasing an additional 167,669 shares in the last quarter. Franklin Resources Inc. raised its stake in Spyre Therapeutics by 4.6% in the 2nd quarter. Franklin Resources Inc. now owns 795,275 shares of the company’s stock valued at $11,905,000 after purchasing an additional 34,647 shares during the last quarter. Affinity Asset Advisors LLC lifted its holdings in Spyre Therapeutics by 26.0% in the 2nd quarter. Affinity Asset Advisors LLC now owns 606,678 shares of the company’s stock valued at $9,082,000 after purchasing an additional 125,000 shares in the last quarter. Finally, Emerald Advisers LLC boosted its stake in Spyre Therapeutics by 3.3% during the 2nd quarter. Emerald Advisers LLC now owns 565,863 shares of the company’s stock worth $8,471,000 after purchasing an additional 18,036 shares during the last quarter. 80.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SYRE has been the topic of several research reports. Wall Street Zen raised shares of Spyre Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Citigroup began coverage on shares of Spyre Therapeutics in a research note on Wednesday, December 17th. They issued a “buy” rating and a $64.00 target price on the stock. Mizuho upgraded Spyre Therapeutics to a “strong-buy” rating in a research report on Thursday, December 18th. BTIG Research reiterated a “buy” rating and set a $70.00 price objective on shares of Spyre Therapeutics in a research report on Friday, January 16th. Finally, Jones Trading upgraded Spyre Therapeutics from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a report on Monday, December 1st. Three research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $53.88.

Spyre Therapeutics Stock Performance

Spyre Therapeutics stock opened at $32.07 on Thursday. The company has a market capitalization of $2.49 billion, a PE ratio of -14.64 and a beta of 3.15. The firm has a 50 day moving average price of $32.52 and a 200 day moving average price of $23.76. Spyre Therapeutics, Inc. has a fifty-two week low of $10.91 and a fifty-two week high of $35.31.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.53. As a group, equities research analysts forecast that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current year.

Insider Activity at Spyre Therapeutics

In other Spyre Therapeutics news, CEO Cameron Turtle sold 15,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $32.80, for a total value of $492,000.00. Following the transaction, the chief executive officer directly owned 657,540 shares in the company, valued at $21,567,312. This represents a 2.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 45,000 shares of company stock valued at $1,387,500. Corporate insiders own 15.43% of the company’s stock.

Spyre Therapeutics Company 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.