California State Teachers Retirement System Purchases 11,204 Shares of Spyre Therapeutics, Inc. $SYRE

Key Points

• California State Teachers Retirement System increased its Spyre Therapeutics stake by 23.3% to 59,242 shares, while institutional investors collectively own 80.39% of the company.
• Spyre reported quarterly EPS of -$0.36, beating the consensus estimate of -$0.76. Analysts maintain a “Moderate Buy” consensus with an average price target of $110.15.
• SYRE shares opened at $104.91, near their 52-week high of $108.14; however, insiders sold 119,167 shares worth approximately $10.4 million during the latest quarter.

California State Teachers Retirement System boosted its position in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 23.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,242 shares of the company's stock after acquiring an additional 11,204 shares during the period. California State Teachers Retirement System owned 0.07% of Spyre Therapeutics worth $2,988,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SYRE. Royal Bank of Canada lifted its stake in Spyre Therapeutics by 63.5% in the 1st quarter. Royal Bank of Canada now owns 3,250 shares of the company's stock worth $164,000 after purchasing an additional 1,262 shares in the last quarter. Quantinno Capital Management LP purchased a new position in shares of Spyre Therapeutics during the 1st quarter valued at $230,000. ABS Direct Equity Fund LLC bought a new position in shares of Spyre Therapeutics in the first quarter worth $141,000. Sei Investments Co. increased its holdings in shares of Spyre Therapeutics by 46.7% in the first quarter. Sei Investments Co. now owns 8,975 shares of the company's stock worth $453,000 after purchasing an additional 2,858 shares during the period. Finally, First Trust Advisors LP purchased a new stake in shares of Spyre Therapeutics in the first quarter worth $8,998,000. Institutional investors own 80.39% of the company's stock.

Insider Transactions at Spyre Therapeutics

In related news, insider Sheldon Sloan sold 8,334 shares of the business'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 value of $730,891.80. Following the completion of the sale, the insider owned 8,334 shares in the company, valued at $730,891.80. The trade was a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Scott L. Burrows sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $87.13, for a total value of $1,306,950.00. Following the completion of the sale, the chief financial officer directly owned 97,994 shares of the company's stock, valued at approximately $8,538,217.22. This represents a 13.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 119,167 shares of company stock valued at $10,375,042. 15.69% of the stock is currently owned by corporate insiders.

Spyre Therapeutics Price Performance

SYRE opened at $104.91 on Monday. The business's fifty day simple moving average is $91.17 and its 200 day simple moving average is $65.66. Spyre Therapeutics, Inc. has a 52 week low of $14.51 and a 52 week high of $108.14. The stock has a market cap of $9.23 billion, a PE ratio of -53.80 and a beta of 3.03.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last issued its quarterly earnings results 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. As a group, equities analysts anticipate that Spyre Therapeutics, Inc. will post -2.62 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SYRE shares. Wolfe Research lowered Spyre Therapeutics from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, July 28th. JonesTrading upped their target price on Spyre Therapeutics from $64.00 to $95.00 and gave the stock a "buy" rating in a research note on Friday, April 17th. Deutsche Bank Aktiengesellschaft raised their price target on Spyre Therapeutics from $115.00 to $135.00 and gave the company a "buy" rating in a report on Tuesday, June 23rd. Raymond James Financial assumed coverage on Spyre Therapeutics in a research report on Monday, April 13th. They set a "strong-buy" rating and a $80.00 price target for the company. Finally, Wall Street Zen raised Spyre Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $110.15.

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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