Spyre Therapeutics, Inc. $SYRE Shares Purchased by Profund Advisors LLC

Profund Advisors LLC raised its stake in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 55.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 20,593 shares of the company’s stock after purchasing an additional 7,370 shares during the quarter. Profund Advisors LLC’s holdings in Spyre Therapeutics were worth $675,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its position in Spyre Therapeutics by 61.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,770 shares of the company’s stock worth $124,000 after purchasing an additional 1,435 shares during the last quarter. Russell Investments Group Ltd. increased its position in Spyre Therapeutics by 2,881.7% during the third quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company’s stock worth $71,000 after purchasing an additional 4,092 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Spyre Therapeutics by 182.2% during the second quarter. Tower Research Capital LLC TRC now owns 5,769 shares of the company’s stock worth $86,000 after purchasing an additional 3,725 shares during the last quarter. Man Group plc acquired a new position in Spyre Therapeutics during the second quarter worth approximately $162,000. Finally, China Universal Asset Management Co. Ltd. increased its position in Spyre Therapeutics by 19.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 12,644 shares of the company’s stock worth $414,000 after purchasing an additional 2,057 shares during the last quarter. Institutional investors and hedge funds own 80.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SYRE shares. Robert W. Baird upped their price target on shares of Spyre Therapeutics from $65.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 14th. Wedbush boosted their price objective on shares of Spyre Therapeutics from $65.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Wells Fargo & Company boosted their price objective on shares of Spyre Therapeutics from $50.00 to $90.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 14th. Citigroup boosted their price objective on shares of Spyre Therapeutics from $64.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Raymond James Financial initiated coverage on shares of Spyre Therapeutics in a research note on Monday, April 13th. They set a “strong-buy” rating and a $80.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $90.25.

Spyre Therapeutics Stock Down 0.4%

SYRE opened at $74.05 on Friday. Spyre Therapeutics, Inc. has a 52-week low of $13.93 and a 52-week high of $78.80. The company has a 50 day moving average of $60.51 and a two-hundred day moving average of $42.41. The company has a market cap of $6.43 billion, a P/E ratio of -35.60 and a beta of 3.12.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.08). Research analysts anticipate that Spyre Therapeutics, Inc. will post -2.79 earnings per share for the current year.

Insider Buying and Selling at Spyre Therapeutics

In other news, CEO Cameron Turtle sold 15,000 shares of the company’s 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 completion of the transaction, the chief executive officer directly owned 612,540 shares in the company, valued at approximately $43,716,979.80. This represents a 2.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Thomas Henderson sold 80,000 shares of the company’s stock in a transaction on Friday, May 8th. The shares were 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 of the company’s stock, valued at $6,592,286.40. This trade represents a 47.45% 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. Insiders have sold 233,791 shares of company stock valued at $15,757,860 in the last ninety days. Corporate 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.