Spyre Therapeutics, Inc. $SYRE Shares Acquired by Commodore Capital LP

Commodore Capital LP lifted its position in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 20.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,388,245 shares of the company’s stock after acquiring an additional 400,161 shares during the period. Spyre Therapeutics makes up approximately 5.2% of Commodore Capital LP’s investment portfolio, making the stock its 5th largest position. Commodore Capital LP’s holdings in Spyre Therapeutics were worth $78,239,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Optimize Financial Inc raised its stake in shares of Spyre Therapeutics by 1.5% during the 4th quarter. Optimize Financial Inc now owns 25,331 shares of the company’s stock worth $830,000 after buying an additional 364 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of Spyre Therapeutics by 0.5% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 106,664 shares of the company’s stock worth $1,788,000 after buying an additional 522 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Spyre Therapeutics by 1.8% during the 2nd quarter. California State Teachers Retirement System now owns 33,201 shares of the company’s stock worth $497,000 after buying an additional 603 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Spyre Therapeutics by 4.5% during the 4th quarter. AQR Capital Management LLC now owns 17,820 shares of the company’s stock worth $584,000 after buying an additional 773 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Spyre Therapeutics by 31.2% during the 4th quarter. Russell Investments Group Ltd. now owns 5,554 shares of the company’s stock worth $182,000 after buying an additional 1,320 shares during the last quarter. Institutional investors and hedge funds own 80.39% of the company’s stock.

Spyre Therapeutics Trading Up 4.9%

Shares of SYRE stock opened at $87.49 on Thursday. The firm has a 50-day moving average price of $71.74 and a 200 day moving average price of $49.08. Spyre Therapeutics, Inc. has a twelve month low of $14.00 and a twelve month high of $88.03. The company has a market capitalization of $7.60 billion, a price-to-earnings ratio of -42.06 and a beta of 3.05.

Spyre Therapeutics (NASDAQ:SYRE) last announced its earnings results on Tuesday, May 5th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.08). As a group, research analysts predict that Spyre Therapeutics, Inc. will post -2.86 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. BTIG Research lifted their price target on Spyre Therapeutics from $98.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Spyre Therapeutics in a research note on Thursday, June 4th. JonesTrading lifted their price target on Spyre Therapeutics from $64.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. Leerink Partners lifted their price target on Spyre Therapeutics from $49.00 to $106.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Finally, Citigroup lifted their price target on Spyre Therapeutics from $64.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $94.17.

Insider Activity

In related news, CEO Cameron Turtle sold 15,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 612,540 shares of the company’s stock, valued at approximately $43,716,979.80. The trade was a 2.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 dated Friday, May 8th. The shares were sold at an average price of $74.40, for a total value of $5,952,000.00. Following the completion of the sale, the director owned 88,606 shares of the company’s stock, valued at $6,592,286.40. This trade represents 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. Over the last quarter, insiders sold 247,124 shares of company stock worth $17,237,760. Company insiders own 15.69% 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.