Seven Fleet Capital Management LP lowered its holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE – Free Report) by 32.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,300 shares of the company’s stock after selling 6,390 shares during the period. Seven Fleet Capital Management LP’s holdings in Spyre Therapeutics were worth $1,181,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. GAMMA Investing LLC grew its position in Spyre Therapeutics by 26.8% in the second quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock worth $59,000 after buying an additional 140 shares during the last quarter. Optimize Financial Inc boosted its stake in shares of Spyre Therapeutics by 1.5% during the 4th quarter. Optimize Financial Inc now owns 25,331 shares of the company’s stock worth $830,000 after acquiring an additional 364 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted 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 worth $1,788,000 after acquiring an additional 522 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of Spyre Therapeutics in the 1st quarter worth $28,000. Finally, California State Teachers Retirement System grew its holdings in shares of Spyre Therapeutics by 1.8% in the 2nd quarter. California State Teachers Retirement System now owns 33,201 shares of the company’s stock worth $497,000 after acquiring an additional 603 shares during the last quarter. 80.39% of the stock is currently owned by institutional investors.
Trending Headlines about Spyre Therapeutics
Here are the key news stories impacting Spyre Therapeutics this week:
- Positive Sentiment: Management will participate in the Citi BioPharma Back to School Conference on September 9, the Wells Fargo Healthcare Conference on September 10, and the Stifel Immunology and Inflammation Forum on September 23. These events could provide updates on Spyre’s clinical programs, development strategy, and potential catalysts. Spyre Therapeutics to Participate in Upcoming September Investor Conferences
- Positive Sentiment: Spyre’s independent compensation committee approved stock options covering 2,106 shares and 745 restricted stock units for a new non-executive employee. The awards were intended to secure the employee’s acceptance and may support the company’s ability to recruit talent, although the equity issuance has a modest dilution effect. Spyre Therapeutics Announces Grants of Inducement Awards
- Neutral Sentiment: Spyre’s latest quarterly loss of $0.36 per share was better than the expected $0.76 loss. However, the company remains unprofitable, with analysts forecasting a full-year loss of approximately $2.62 per share. The earnings beat alone has not provided a lasting catalyst.
- Negative Sentiment: Several insiders reported sales totaling roughly 69,000 shares. CEO Cameron Turtle sold 15,000 shares, CFO Scott Burrows sold 25,732 shares, and Heidy King-Jones sold 28,399 shares. The transactions were made under pre-arranged Rule 10b5-1 plans; Burrows said his sales covered tax withholding obligations. Even so, the volume of selling—particularly King-Jones’s substantial reduction in ownership—could weigh on investor sentiment. Spyre Therapeutics Insider Trading
- Negative Sentiment: A Zacks report noted that SYRE had declined 16.6% since its latest earnings release, suggesting investors remain focused on the need for clinical progress and additional company-specific catalysts. Spyre Therapeutics Down 16.6% Since Last Earnings Report
Insider Transactions at Spyre Therapeutics
Analysts Set New Price Targets
A number of equities analysts recently weighed in on SYRE shares. Mizuho increased their price target on Spyre Therapeutics from $84.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. BTIG Research decreased their target price on shares of Spyre Therapeutics from $132.00 to $121.00 and set a “buy” rating for the company in a report on Wednesday, August 26th. Robert W. Baird set a $120.00 target price on shares of Spyre Therapeutics in a research report on Wednesday, August 5th. Wall Street Zen lowered shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, August 16th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Spyre Therapeutics from $135.00 to $127.00 and set a “buy” rating for the company in a research report on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $109.69.
Check Out Our Latest Report on SYRE
Spyre Therapeutics Stock Up 2.0%
Spyre Therapeutics stock opened at $88.98 on Friday. The company’s fifty day simple moving average is $98.05 and its 200-day simple moving average is $74.63. Spyre Therapeutics, Inc. has a 12 month low of $14.51 and a 12 month high of $110.18. The stock has a market cap of $7.82 billion, a P/E ratio of -45.63 and a beta of 2.99.
Spyre Therapeutics (NASDAQ:SYRE – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.40. On average, equities research analysts expect that Spyre Therapeutics, Inc. will post -2.62 earnings per share for the current fiscal year.
About Spyre Therapeutics
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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