Candriam S.C.A. boosted its position in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE – Free Report) by 43.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 610,282 shares of the company’s stock after buying an additional 184,748 shares during the quarter. Candriam S.C.A.’s holdings in Spyre Therapeutics were worth $30,783,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the business. Summit Securities Group LLC bought a new stake in shares of Spyre Therapeutics during the first quarter worth approximately $28,000. Persistent Asset Partners Ltd acquired a new position in shares of Spyre Therapeutics in the 4th quarter valued at $74,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Spyre Therapeutics by 61.5% in the 4th 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. Union Bancaire Privee UBP SA bought a new stake in Spyre Therapeutics in the first quarter valued at about $196,000. Finally, Russell Investments Group Ltd. boosted its holdings 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 buying an additional 4,092 shares during the last quarter. Institutional investors own 80.39% of the company’s stock.
Insider Transactions at Spyre Therapeutics
In other news, CEO Cameron Turtle sold 15,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $70.43, for a total transaction of $1,056,450.00. Following the completion of the transaction, the chief executive officer owned 597,540 shares in the company, valued at $42,084,742.20. This trade represents a 2.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Thomas Henderson sold 80,000 shares of the firm’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 directly owned 88,606 shares of the company’s stock, valued at approximately $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 sold a total of 282,500 shares of company stock worth $21,741,101 over the last 90 days. 15.69% of the stock is currently owned by insiders.
Spyre Therapeutics Stock Down 1.0%
Spyre Therapeutics (NASDAQ:SYRE – Get Free Report) last issued its quarterly earnings data 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). Analysts anticipate that Spyre Therapeutics, Inc. will post -2.86 EPS for the current year.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Spyre Therapeutics from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Jefferies Financial Group lifted their price objective on Spyre Therapeutics from $47.00 to $85.00 and gave the company a “buy” rating in a report on Monday, April 13th. Wall Street Zen lowered shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. JonesTrading increased their target price on Spyre Therapeutics from $64.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Finally, Wedbush reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Spyre Therapeutics in a research report on Tuesday, June 16th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Spyre Therapeutics has a consensus rating of “Buy” and an average price target of $95.83.
Read Our Latest Analysis on SYRE
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.
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