Capital International Investors lifted its position in Spyre Therapeutics, Inc. (NASDAQ:SYRE – Free Report) by 46.0% in the fourth quarter, Holdings Channel reports. The firm owned 3,492,541 shares of the company’s stock after buying an additional 1,100,000 shares during the period. Capital International Investors’ holdings in Spyre Therapeutics were worth $114,416,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the company. Optimize Financial Inc boosted its holdings in shares of Spyre Therapeutics by 1.5% in the fourth quarter. Optimize Financial Inc now owns 25,331 shares of the company’s stock valued at $830,000 after purchasing an additional 364 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Spyre Therapeutics by 0.5% in the third quarter. Mercer Global Advisors Inc. ADV now owns 106,664 shares of the company’s stock valued at $1,788,000 after purchasing an additional 522 shares during the period. California State Teachers Retirement System boosted its holdings in shares of Spyre Therapeutics by 1.8% in the second quarter. California State Teachers Retirement System now owns 33,201 shares of the company’s stock valued at $497,000 after purchasing an additional 603 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Spyre Therapeutics by 61.5% in the fourth 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. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in shares of Spyre Therapeutics by 19.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 12,644 shares of the company’s stock valued at $414,000 after purchasing an additional 2,057 shares during the period. Hedge funds and other institutional investors own 80.39% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts recently commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Spyre Therapeutics in a research note on Thursday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Spyre Therapeutics from $102.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday. BTIG Research boosted their price objective on shares of Spyre Therapeutics from $70.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. 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, Jefferies Financial Group boosted their price objective on shares of Spyre Therapeutics from $47.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $91.33.
Spyre Therapeutics Stock Down 2.2%
Shares of NASDAQ:SYRE opened at $72.00 on Tuesday. The company has a market capitalization of $6.25 billion, a price-to-earnings ratio of -34.62 and a beta of 3.05. Spyre Therapeutics, Inc. has a 52 week low of $13.93 and a 52 week high of $79.54. The firm has a 50 day moving average of $67.11 and a 200 day moving average of $46.41.
Spyre Therapeutics (NASDAQ:SYRE – Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.08). On average, sell-side analysts expect that Spyre Therapeutics, Inc. will post -2.86 EPS for the current year.
Insiders Place Their Bets
In other news, CFO Scott L. Burrows sold 12,500 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $71.37, for a total transaction of $892,125.00. Following the transaction, the chief financial officer directly owned 97,994 shares of the company’s stock, valued at approximately $6,993,831.78. This represents a 11.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cameron Turtle sold 15,000 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $71.37, for a total value of $1,070,550.00. Following the transaction, the chief executive officer directly owned 612,540 shares in the company, valued at approximately $43,716,979.80. The trade was a 2.39% 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 ninety days, insiders sold 247,124 shares of company stock valued at $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.
Read More
- Five stocks we like better than Spyre Therapeutics
- 3 Stocks With Fresh Catalysts to Watch Before the July 4
- Amprius Insiders Are Selling: Should Investors Be Worried?
- A Weaker Dollar Could Put These 3 Industrial Stocks Back in Focus
- A Market Rotation Toward Quality Will Benefit These 3 ETFs
Want to see what other hedge funds are holding SYRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spyre Therapeutics, Inc. (NASDAQ:SYRE – Free Report).
Receive News & Ratings for Spyre Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spyre Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.
