Dimensional Fund Advisors LP Sells 29,593 Shares of Spyre Therapeutics, Inc. $SYRE

Key Points

• Dimensional Fund Advisors cut its Spyre Therapeutics stake by 38.3%, selling 29,593 shares and retaining 47,697 shares valued at approximately $2.4 million. Institutional investors collectively own 80.39% of the company.
• Analysts remain broadly bullish, with a consensus rating of “Moderate Buy” and an average price target of $111.69; several firms recently raised targets to between $120 and $135.
• Insiders have sold 142,167 shares worth $12.8 million over the past 90 days, while Spyre reported quarterly EPS of negative $0.36, beating expectations of negative $0.76. Shares opened at $101.85, near their 52-week high of $108.14.

Dimensional Fund Advisors LP decreased its holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 38.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 47,697 shares of the company's stock after selling 29,593 shares during the period. Dimensional Fund Advisors LP owned approximately 0.06% of Spyre Therapeutics worth $2,406,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Spyre Therapeutics by 18.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,018 shares of the company's stock valued at $442,000 after buying an additional 4,277 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Spyre Therapeutics by 13.8% during the second quarter. JPMorgan Chase & Co. now owns 47,279 shares of the company's stock worth $708,000 after acquiring an additional 5,723 shares in the last quarter. Rhumbline Advisers raised its stake in Spyre Therapeutics by 30.6% during the second quarter. Rhumbline Advisers now owns 73,168 shares of the company's stock worth $1,095,000 after acquiring an additional 17,145 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Spyre Therapeutics by 61.4% in the second quarter. New York State Common Retirement Fund now owns 16,565 shares of the company's stock worth $248,000 after acquiring an additional 6,300 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Spyre Therapeutics by 37.6% in the second quarter. Invesco Ltd. now owns 34,680 shares of the company's stock worth $519,000 after acquiring an additional 9,473 shares during the last quarter. Institutional investors and hedge funds own 80.39% of the company's stock.

Analysts Set New Price Targets

SYRE has been the topic of several research reports. Mizuho lifted their price target on shares of Spyre Therapeutics from $84.00 to $120.00 and gave the company an "outperform" rating in a report on Monday, July 13th. Guggenheim increased their price objective on shares of Spyre Therapeutics from $115.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Spyre Therapeutics from $115.00 to $135.00 and gave the company a "buy" rating in a research report on Tuesday, June 23rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Spyre Therapeutics in a research note on Thursday, June 4th. Finally, Wolfe Research lowered Spyre Therapeutics from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $111.69.

Insider Buying and Selling at Spyre Therapeutics

In other Spyre Therapeutics news, CFO Scott L. Burrows sold 7,500 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $95.57, for a total value of $716,775.00. Following the transaction, the chief financial officer directly owned 97,994 shares of the company's stock, valued at approximately $9,365,286.58. The trade was a 7.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jeffrey W. Albers sold 5,000 shares of Spyre Therapeutics stock in a transaction on Friday, August 7th. The shares were sold at an average price of $104.47, for a total transaction of $522,350.00. Following the completion of the sale, the director owned 5,000 shares of the company's stock, valued at $522,350. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 142,167 shares of company stock valued at $12,779,292 over the last ninety days. Insiders own 15.69% of the company's stock.

Spyre Therapeutics Trading Down 2.2%

Shares of SYRE stock opened at $101.85 on Friday. The stock has a 50-day moving average of $93.61 and a 200-day moving average of $67.63. The stock has a market cap of $8.96 billion, a price-to-earnings ratio of -52.23 and a beta of 3.03. Spyre Therapeutics, Inc. has a 1-year low of $14.51 and a 1-year high of $108.14.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported ($0.36) earnings per share for the quarter, beating analysts' consensus estimates of ($0.76) by $0.40. Sell-side analysts forecast that Spyre Therapeutics, Inc. will post -2.62 earnings per share for the current 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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