Perceptive Advisors LLC Purchases 1,839,780 Shares of Spyre Therapeutics, Inc. $SYRE

Perceptive Advisors LLC raised its position in Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 149.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,069,225 shares of the company’s stock after purchasing an additional 1,839,780 shares during the period. Spyre Therapeutics accounts for 1.8% of Perceptive Advisors LLC’s investment portfolio, making the stock its 14th biggest position. Perceptive Advisors LLC’s holdings in Spyre Therapeutics were worth $100,548,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Persistent Asset Partners Ltd bought a new position in Spyre Therapeutics in the 4th quarter valued at $74,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Spyre Therapeutics by 61.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,770 shares of the company’s stock valued at $124,000 after purchasing an additional 1,435 shares during the period. Russell Investments Group Ltd. boosted its holdings in Spyre Therapeutics by 2,881.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company’s stock valued at $71,000 after purchasing an additional 4,092 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Spyre Therapeutics by 182.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,769 shares of the company’s stock valued at $86,000 after buying an additional 3,725 shares in the last quarter. Finally, Martingale Asset Management L P purchased a new stake in shares of Spyre Therapeutics during the 4th quarter valued at $227,000. 80.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SYRE has been the topic of several research reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Spyre Therapeutics from $102.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. 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 price objective on the stock. Jefferies Financial Group raised their price objective on shares of Spyre Therapeutics from $47.00 to $85.00 and gave the company a “buy” 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. Finally, Wells Fargo & Company raised 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 equities research 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $94.17.

Insider Buying and Selling at Spyre Therapeutics

In related news, CEO Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock in a transaction on Friday, May 1st. The shares were sold at an average price of $71.37, for a total value of $1,070,550.00. Following the transaction, the chief executive officer owned 612,540 shares in the company, valued at $43,716,979.80. This trade represents a 2.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Thomas Henderson sold 80,000 shares of Spyre Therapeutics stock in a transaction on Friday, May 8th. The stock was sold at an average price of $74.40, for a total transaction of $5,952,000.00. Following the completion of the transaction, the director owned 88,606 shares in the company, valued at approximately $6,592,286.40. The trade was a 47.45% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 247,124 shares of company stock worth $17,237,760 in the last 90 days. 15.69% of the stock is owned by company insiders.

Spyre Therapeutics Stock Performance

Spyre Therapeutics stock opened at $87.49 on Thursday. The stock has a market cap of $7.60 billion, a P/E ratio of -42.06 and a beta of 3.05. The firm’s fifty day moving average price is $71.74 and its 200-day moving average price is $49.08. Spyre Therapeutics, Inc. has a fifty-two week low of $14.00 and a fifty-two week high of $88.03.

Spyre Therapeutics (NASDAQ:SYRE) last issued 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). On average, analysts predict that Spyre Therapeutics, Inc. will post -2.86 earnings per share for the current year.

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.