178,389 Shares in Spyre Therapeutics, Inc. $SYRE Acquired by First Trust Advisors LP

Key Points

• First Trust Advisors LP acquired 178,389 shares of Spyre Therapeutics valued at approximately $9.0 million, giving it a 0.21% stake. Institutional investors collectively own 80.39% of the company.
• Spyre shares opened at $98.33, near their 52-week high of $105.09, while the company reported a quarterly loss of $0.74 per share—$0.08 worse than analyst expectations. Analysts maintain a “Moderate Buy” consensus with an average price target of $101.42.
• Company insiders sold 176,667 shares worth approximately $14.2 million over the past 90 days, including sales by the CFO and another insider under a Rule 10b5-1 plan.

First Trust Advisors LP bought a new position in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 178,389 shares of the company's stock, valued at approximately $8,998,000. First Trust Advisors LP owned 0.21% of Spyre Therapeutics at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Summit Securities Group LLC bought a new position in shares of Spyre Therapeutics during the 1st quarter valued at $28,000. KBC Group NV purchased a new position in shares of Spyre Therapeutics in the 1st quarter worth $69,000. Russell Investments Group Ltd. grew its holdings in shares of Spyre Therapeutics by 2,881.7% in the third quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company's stock worth $71,000 after acquiring an additional 4,092 shares during the period. Persistent Asset Partners Ltd bought a new stake in shares of Spyre Therapeutics in the fourth quarter worth $74,000. Finally, Tower Research Capital LLC TRC increased its position in Spyre Therapeutics by 182.2% during the second quarter. Tower Research Capital LLC TRC now owns 5,769 shares of the company's stock valued at $86,000 after acquiring an additional 3,725 shares during the last quarter. Institutional investors own 80.39% of the company's stock.

Spyre Therapeutics Stock Performance

Shares of Spyre Therapeutics stock opened at $98.33 on Friday. Spyre Therapeutics, Inc. has a one year low of $14.51 and a one year high of $105.09. The stock's fifty day moving average is $88.23 and its 200 day moving average is $62.99. The stock has a market cap of $8.65 billion, a P/E ratio of -47.27 and a beta of 3.02.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.08). Analysts predict that Spyre Therapeutics, Inc. will post -2.86 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on SYRE shares. Wells Fargo & Company increased their target price on Spyre Therapeutics from $50.00 to $90.00 and gave the company an "overweight" rating in a report on Tuesday, April 14th. Stifel Nicolaus boosted their price target on Spyre Therapeutics from $92.00 to $107.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Wolfe Research lowered shares of Spyre Therapeutics from an "outperform" rating to a "peer perform" rating in a research report on Tuesday. Raymond James Financial started coverage on shares of Spyre Therapeutics in a research note on Monday, April 13th. They issued a "strong-buy" rating and a $80.00 price objective on the stock. Finally, Wedbush reissued an "outperform" rating and issued a $100.00 price objective on shares of Spyre Therapeutics in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Spyre Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $101.42.

Insider Buying and Selling

In other Spyre Therapeutics news, CFO Scott L. Burrows sold 15,000 shares of the firm's stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $87.13, for a total transaction of $1,306,950.00. Following the sale, the chief financial officer owned 97,994 shares in the company, valued at approximately $8,538,217.22. This trade represents a 13.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sheldon Sloan sold 8,334 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $87.70, for a total transaction of $730,891.80. Following the sale, the insider owned 8,334 shares in the company, valued at approximately $730,891.80. The trade was a 50.00% 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. Insiders sold 176,667 shares of company stock worth $14,177,617 over the last ninety days. 15.69% of the stock is owned by corporate insiders.

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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