Spyre Therapeutics, Inc. $SYRE Holdings Lessened by Braidwell LP

Braidwell LP decreased its holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 5.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 879,467 shares of the company’s stock after selling 53,356 shares during the period. Spyre Therapeutics accounts for approximately 2.9% of Braidwell LP’s holdings, making the stock its 7th biggest holding. Braidwell LP’s holdings in Spyre Therapeutics were worth $78,079,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nykredit A S purchased a new position in Spyre Therapeutics in the second quarter worth about $173,000. Bank of New York Mellon Corp bought a new stake in shares of Spyre Therapeutics in the 2nd quarter valued at approximately $21,768,000. Handelsbanken Fonder AB bought a new stake in shares of Spyre Therapeutics in the 2nd quarter valued at approximately $2,308,000. GAMMA Investing LLC boosted its holdings in shares of Spyre Therapeutics by 26.8% in the 2nd quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock worth $59,000 after purchasing an additional 140 shares during the period. Finally, Seven Fleet Capital Management LP purchased a new position in shares of Spyre Therapeutics in the 1st quarter worth approximately $993,000. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Insider Buying and Selling at Spyre Therapeutics

In other news, Director Jeffrey W. Albers sold 18,000 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $104.55, for a total transaction of $1,881,900.00. Following the transaction, the director owned 9,360 shares in the company, valued at $978,588. This represents a 65.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Thomas Henderson sold 20,000 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $100.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the director directly owned 68,606 shares of the company’s stock, valued at $6,860,600. The trade was a 22.57% decrease in their ownership of the stock. 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. In the last three months, insiders have sold 111,334 shares of company stock valued at $10,564,917. Insiders own 15.69% of the company’s stock.

Spyre Therapeutics Price Performance

Spyre Therapeutics stock opened at $87.05 on Thursday. The stock has a market capitalization of $7.66 billion, a price-to-earnings ratio of -44.64 and a beta of 2.99. Spyre Therapeutics, Inc. has a 1-year low of $14.51 and a 1-year high of $110.18. The business has a fifty day moving average price of $98.06 and a 200-day moving average price of $74.17.

Spyre Therapeutics (NASDAQ:SYRE) last announced its earnings results on Tuesday, August 4th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.40. On average, equities research analysts anticipate that Spyre Therapeutics, Inc. will post -2.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft decreased their price target on Spyre Therapeutics from $135.00 to $127.00 and set a “buy” rating on the stock in a report on Wednesday, August 26th. Wall Street Zen cut shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, August 16th. Stifel Nicolaus increased their target price on shares of Spyre Therapeutics from $92.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Mizuho raised their target price on shares of Spyre Therapeutics from $84.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Finally, Guggenheim raised their price target on Spyre Therapeutics from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Spyre Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $109.69.

About Spyre Therapeutics

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.