Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 13,724 shares of the company's stock, valued at approximately $450,000.
Several other hedge funds have also made changes to their positions in the stock. HighVista Strategies LLC lifted its stake in Spyre Therapeutics by 91.3% during the third quarter. HighVista Strategies LLC now owns 215,746 shares of the company's stock worth $3,616,000 after purchasing an additional 102,941 shares during the period. Candriam S.C.A. grew its stake in shares of Spyre Therapeutics by 64.4% in the 3rd quarter. Candriam S.C.A. now owns 404,362 shares of the company's stock valued at $6,777,000 after purchasing an additional 158,332 shares during the period. Baker BROS. Advisors LP grew its stake in shares of Spyre Therapeutics by 59.6% in the 3rd quarter. Baker BROS. Advisors LP now owns 1,000,000 shares of the company's stock valued at $16,760,000 after purchasing an additional 373,297 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Spyre Therapeutics by 483.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 275,984 shares of the company's stock valued at $4,625,000 after purchasing an additional 228,705 shares during the period. Finally, UBS Group AG grew its stake in shares of Spyre Therapeutics by 76.5% in the 4th quarter. UBS Group AG now owns 680,566 shares of the company's stock valued at $22,295,000 after purchasing an additional 294,977 shares during the period. Institutional investors own 80.39% of the company's stock.
Spyre Therapeutics Trading Up 6.7%
Shares of SYRE stock opened at $78.48 on Friday. Spyre Therapeutics, Inc. has a 1 year low of $13.93 and a 1 year high of $79.54. The firm's 50 day moving average is $66.06 and its 200-day moving average is $45.72. The firm has a market capitalization of $6.82 billion, a price-to-earnings ratio of -37.73 and a beta of 3.05.
Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last announced its earnings results 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). On average, equities research analysts forecast that Spyre Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the company. Wedbush upped their price objective on Spyre Therapeutics from $65.00 to $80.00 and gave the company an "outperform" rating in a research note on Monday, April 13th. BTIG Research upped their price objective on Spyre Therapeutics from $70.00 to $98.00 and gave the company a "buy" rating in a research note on Monday, April 13th. Leerink Partners upped their price objective on Spyre Therapeutics from $49.00 to $106.00 and gave the company an "outperform" rating in a research note on Monday, April 13th. JonesTrading upped their price objective on Spyre Therapeutics from $64.00 to $95.00 and gave the company a "buy" rating in a research note on Friday, April 17th. Finally, Wall Street Zen lowered Spyre Therapeutics from a "hold" rating to a "sell" rating in a research note on Sunday, April 26th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $91.33.
Check Out Our Latest Analysis on SYRE
Insider Buying and Selling at Spyre Therapeutics
In related news, CFO Scott L. Burrows sold 7,500 shares of the business's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $71.06, for a total transaction of $532,950.00. Following the completion of the sale, the chief financial officer directly owned 97,994 shares of the company's stock, valued at $6,963,453.64. The trade was a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Thomas Henderson sold 80,000 shares of the business's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $74.40, for a total transaction of $5,952,000.00. Following the sale, 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. In the last three months, insiders sold 247,124 shares of company stock valued at $17,237,760. 15.69% of the stock is currently owned by corporate insiders.
About Spyre Therapeutics
(
Free Report)
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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