Capital International Investors Purchases 1,100,000 Shares of Spyre Therapeutics, Inc. $SYRE

Key Points

• Capital International Investors increased its stake in Spyre Therapeutics by 46% in the fourth quarter, buying 1.1 million additional shares and ending with 3.49 million shares valued at about $114.4 million.
• Spyre Therapeutics has seen broad institutional ownership, with several other funds also adding to positions and institutions now holding 80.39% of the stock.
• The company reported a quarterly EPS miss of -$0.74 versus an expected -$0.66, even as analysts remain mostly bullish with a consensus Buy rating and average price target of $91.33.

Capital International Investors lifted its position in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 46.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,492,541 shares of the company's stock after purchasing an additional 1,100,000 shares during the quarter. Capital International Investors owned about 4.50% of Spyre Therapeutics worth $114,416,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Optimize Financial Inc increased its holdings in shares of Spyre Therapeutics by 1.5% in the fourth quarter. Optimize Financial Inc now owns 25,331 shares of the company's stock worth $830,000 after purchasing an additional 364 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of Spyre Therapeutics by 0.5% in the third quarter. Mercer Global Advisors Inc. ADV now owns 106,664 shares of the company's stock worth $1,788,000 after purchasing an additional 522 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of Spyre Therapeutics by 1.8% in the second quarter. California State Teachers Retirement System now owns 33,201 shares of the company's stock worth $497,000 after purchasing an additional 603 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Spyre Therapeutics by 61.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,770 shares of the company's stock worth $124,000 after acquiring an additional 1,435 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its stake in Spyre Therapeutics by 19.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 12,644 shares of the company's stock worth $414,000 after acquiring an additional 2,057 shares during the last quarter. 80.39% of the stock is owned by institutional investors.

Spyre Therapeutics Price Performance

Shares of NASDAQ:SYRE opened at $72.00 on Tuesday. Spyre Therapeutics, Inc. has a 1 year low of $13.93 and a 1 year high of $79.54. The business has a 50 day simple moving average of $67.11 and a two-hundred day simple moving average of $46.41. The firm has a market capitalization of $6.25 billion, a PE ratio of -34.62 and a beta of 3.05.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.08). Equities research analysts expect that Spyre Therapeutics, Inc. will post -2.86 EPS for the current fiscal year.

Analyst Ratings Changes

SYRE has been the topic of several analyst reports. Wells Fargo & Company boosted their price objective on Spyre Therapeutics from $50.00 to $90.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 14th. Raymond James Financial initiated coverage on Spyre Therapeutics in a research note on Monday, April 13th. They set a "strong-buy" rating and a $80.00 price objective on the stock. Jefferies Financial Group boosted their price objective on Spyre Therapeutics from $47.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, April 13th. Leerink Partners boosted their price objective on Spyre Therapeutics from $49.00 to $106.00 and gave the stock an "outperform" rating in a research note on Monday, April 13th. Finally, Wedbush boosted their price objective on Spyre Therapeutics from $65.00 to $80.00 and gave the stock an "outperform" rating in a research note on Monday, April 13th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $91.33.

Insider Activity at Spyre Therapeutics

In other news, CEO Cameron Turtle sold 15,000 shares of the company's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $71.37, for a total value of $1,070,550.00. Following the transaction, the chief executive officer directly owned 612,540 shares in the company, valued at approximately $43,716,979.80. This represents a 2.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sheldon Sloan sold 78,333 shares of the company's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $71.50, for a total transaction of $5,600,809.50. Following the completion of the transaction, the insider owned 78,333 shares in the company, valued at approximately $5,600,809.50. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 247,124 shares of company stock valued at $17,237,760. Company insiders own 15.69% of the company's stock.

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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