Stempoint Capital LP raised its stake in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE – Free Report) by 417.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 167,606 shares of the company’s stock after buying an additional 135,229 shares during the period. Spyre Therapeutics comprises approximately 1.6% of Stempoint Capital LP’s holdings, making the stock its 21st largest position. Stempoint Capital LP owned approximately 0.19% of Spyre Therapeutics worth $8,454,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Optimize Financial Inc increased its position in Spyre Therapeutics by 1.5% during the fourth quarter. Optimize Financial Inc now owns 25,331 shares of the company’s stock valued at $830,000 after acquiring an additional 364 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of Spyre Therapeutics by 0.5% during the 3rd 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. Summit Securities Group LLC bought a new stake in shares of Spyre Therapeutics during the 1st quarter valued at about $28,000. California State Teachers Retirement System increased its position in shares of Spyre Therapeutics by 1.8% during the 2nd 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 last quarter. Finally, AQR Capital Management LLC increased its position in shares of Spyre Therapeutics by 4.5% during the 4th quarter. AQR Capital Management LLC now owns 17,820 shares of the company’s stock valued at $584,000 after purchasing an additional 773 shares during the last quarter. 80.39% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts recently issued reports on SYRE shares. Jefferies Financial Group boosted their target price on shares of Spyre Therapeutics from $47.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, April 13th. BTIG Research lifted their price target on shares of Spyre Therapeutics from $98.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. Robert W. Baird boosted their price objective on shares of Spyre Therapeutics from $65.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, April 14th. Wedbush restated an “outperform” rating and issued a $100.00 price objective on shares of Spyre Therapeutics in a research note on Tuesday, June 16th. Finally, JonesTrading lifted their target price on Spyre Therapeutics from $64.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $101.42.
Insider Activity
In other Spyre Therapeutics 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 sale, the chief executive officer directly owned 597,540 shares of the company’s stock, valued at $42,084,742.20. This trade represents a 2.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sheldon Sloan sold 78,333 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $71.50, for a total value of $5,600,809.50. Following the sale, the insider directly owned 78,333 shares in the company, valued at approximately $5,600,809.50. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 282,500 shares of company stock worth $21,741,101 in the last quarter. Corporate insiders own 15.69% of the company’s stock.
Spyre Therapeutics Trading Down 2.1%
NASDAQ SYRE opened at $97.87 on Thursday. Spyre Therapeutics, Inc. has a 12 month low of $14.51 and a 12 month high of $105.09. The stock has a market cap of $8.61 billion, a price-to-earnings ratio of -47.05 and a beta of 3.02. The company’s 50 day moving average is $87.20 and its two-hundred day moving average is $62.24.
Spyre Therapeutics (NASDAQ:SYRE – Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.08). Sell-side analysts forecast that Spyre Therapeutics, Inc. will post -2.86 EPS for the current year.
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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