Spyre Therapeutics, Inc. $SYRE Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its stake in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 23.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 479,135 shares of the company’s stock after selling 149,003 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Spyre Therapeutics were worth $42,657,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bank of America Corp DE lifted its position in shares of Spyre Therapeutics by 192.6% during the first quarter. Bank of America Corp DE now owns 1,228,093 shares of the company’s stock valued at $61,945,000 after purchasing an additional 808,366 shares in the last quarter. Perceptive Advisors LLC grew its position in Spyre Therapeutics by 23.3% in the 1st quarter. Perceptive Advisors LLC now owns 3,783,225 shares of the company’s stock worth $190,826,000 after purchasing an additional 714,000 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Spyre Therapeutics in the 3rd quarter worth about $53,349,000. ADAR1 Capital Management LLC grew its position in Spyre Therapeutics by 893.6% in the 1st quarter. ADAR1 Capital Management LLC now owns 338,323 shares of the company’s stock worth $17,065,000 after purchasing an additional 304,272 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Spyre Therapeutics in the 2nd quarter valued at about $21,768,000. 80.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Spyre Therapeutics

In other Spyre Therapeutics news, insider Heidy King-Jones sold 28,933 shares of the business’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $91.03, for a total value of $2,633,770.99. Following the sale, the insider directly owned 2,845 shares in the company, valued at $258,980.35. The trade was a 91.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cameron Turtle sold 15,000 shares of the business’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $92.01, for a total value of $1,380,150.00. Following the completion of the sale, the chief executive officer owned 537,540 shares in the company, valued at approximately $49,459,055.40. The trade was a 2.71% 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. Over the last ninety days, insiders sold 138,064 shares of company stock valued at $12,349,518. Company insiders own 15.69% of the company’s stock.

Analyst Upgrades and Downgrades

SYRE has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Spyre Therapeutics from $135.00 to $127.00 and set a “buy” rating on the stock in a research report on Wednesday, August 26th. UBS Group assumed coverage on Spyre Therapeutics in a research note on Sunday, October 11th. They issued a “buy” rating and a $120.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Spyre Therapeutics in a report on Tuesday, September 1st. JPMorgan Chase & Co. began coverage on Spyre Therapeutics in a research report on Thursday, October 1st. They set an “overweight” rating and a $110.00 price target for the company. Finally, BTIG Research reaffirmed a “buy” rating and set a $121.00 price target on shares of Spyre Therapeutics in a research report on Monday, October 19th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Spyre Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $110.53.

Spyre Therapeutics Stock Down 4.1%

Spyre Therapeutics stock opened at $104.48 on Wednesday. Spyre Therapeutics, Inc. has a twelve month low of $21.63 and a twelve month high of $110.64. The firm has a 50 day moving average price of $90.46 and a 200-day moving average price of $75.23. The company has a market capitalization of $9.92 billion, a P/E ratio of -38.13 and a beta of 3.24.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.12). Equities analysts expect that Spyre Therapeutics, Inc. will post -2.78 EPS for the current fiscal year.

Spyre Therapeutics Company Profile

Spyre Therapeutics is a clinical-stage biotechnology company developing antibody-based medicines for inflammatory bowel disease, including ulcerative colitis and Crohn’s disease. Its research focuses on therapies designed to target immune pathways involved in these conditions. The company’s pipeline includes investigational antibodies targeting TL1A, IL-23 and integrin α4β7, as well as potential combinations of these approaches. Spyre has no approved products, and its candidates remain in development.