Wellington Management Group LLP decreased its position in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE – Free Report) by 13.3% in the second quarter, Holdings Channel reports. The fund owned 1,581,505 shares of the company’s stock after selling 243,306 shares during the period. Wellington Management Group LLP’s holdings in Spyre Therapeutics were worth $140,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of SYRE. Perceptive Advisors LLC lifted its position in shares of Spyre Therapeutics by 149.6% during the 4th quarter. Perceptive Advisors LLC now owns 3,069,225 shares of the company’s stock worth $100,548,000 after purchasing an additional 1,839,780 shares during the last quarter. Janus Henderson Group PLC increased its position in Spyre Therapeutics by 13,969.3% in the 4th quarter. Janus Henderson Group PLC now owns 1,829,009 shares of the company’s stock worth $59,918,000 after buying an additional 1,816,009 shares during the period. RA Capital Management L.P. bought a new position in Spyre Therapeutics in the 4th quarter worth approximately $53,124,000. Remedium Capital Partners LLC acquired a new position in shares of Spyre Therapeutics during the fourth quarter worth approximately $47,706,000. Finally, TCG Crossover Management LLC acquired a new position in shares of Spyre Therapeutics during the third quarter worth approximately $18,446,000. 80.39% of the stock is currently owned by institutional investors.
Spyre Therapeutics Price Performance
SYRE opened at $89.33 on Tuesday. Spyre Therapeutics, Inc. has a fifty-two week low of $14.51 and a fifty-two week high of $110.18. The firm’s fifty day moving average price is $98.21 and its two-hundred day moving average price is $73.42. The company has a market capitalization of $7.86 billion, a P/E ratio of -45.81 and a beta of 3.03.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on SYRE shares. Wedbush lowered their price objective on shares of Spyre Therapeutics from $130.00 to $123.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 26th. Mizuho increased their price target on shares of Spyre Therapeutics from $84.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Citigroup raised their price target on shares of Spyre Therapeutics from $64.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Stifel Nicolaus boosted their price objective on shares of Spyre Therapeutics from $92.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Wells Fargo & Company upped their price objective on shares of Spyre Therapeutics from $90.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Spyre Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $109.69.
View Our Latest Stock Report on Spyre Therapeutics
Insider Transactions at Spyre Therapeutics
In related news, insider Sheldon Sloan sold 8,334 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $87.70, for a total value of $730,891.80. Following the completion of the transaction, the insider owned 8,334 shares of the company’s stock, valued at $730,891.80. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Thomas Henderson sold 20,000 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $100.00, for a total transaction of $2,000,000.00. Following the transaction, the director owned 68,606 shares of the company’s stock, valued at approximately $6,860,600. This represents a 22.57% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 119,667 shares of company stock valued at $11,189,892. Corporate insiders own 15.69% of the company’s stock.
Spyre Therapeutics 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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