Emerald Advisers LLC Sells 22,744 Shares of Spyre Therapeutics, Inc. $SYRE

Key Points

• Emerald Advisers LLC reduced its stake in Spyre Therapeutics by 3.6% in the first quarter, selling 22,744 shares and ending with 613,365 shares valued at about $30.9 million.
• Spyre Therapeutics stock has surged, recently opening at $93.73 with a 52-week range of $14.51 to $102.06, while institutional investors still own 80.39% of the company.
• Analysts remain mostly positive despite recent losses: the company missed quarterly EPS expectations, but Wall Street’s consensus rating is “Moderate Buy” with an average price target of $101.42.

Emerald Advisers LLC trimmed its position in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 3.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 613,365 shares of the company's stock after selling 22,744 shares during the quarter. Emerald Advisers LLC owned about 0.78% of Spyre Therapeutics worth $30,938,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Optimize Financial Inc lifted its holdings in Spyre Therapeutics by 1.5% during the fourth quarter. Optimize Financial Inc now owns 25,331 shares of the company's stock valued at $830,000 after purchasing an additional 364 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake 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 in the last quarter. Summit Securities Group LLC bought a new stake in shares of Spyre Therapeutics during the 1st quarter valued at $28,000. California State Teachers Retirement System raised its position in shares of Spyre Therapeutics by 1.8% during the 2nd quarter. California State Teachers Retirement System now owns 33,201 shares of the company's stock valued at $497,000 after purchasing an additional 603 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of Spyre Therapeutics by 4.5% during the 4th quarter. AQR Capital Management LLC now owns 17,820 shares of the company's stock valued at $584,000 after buying an additional 773 shares in the last quarter. Institutional investors own 80.39% of the company's stock.

Spyre Therapeutics Stock Performance

Shares of NASDAQ SYRE opened at $93.73 on Tuesday. The company has a market cap of $8.24 billion, a P/E ratio of -45.06 and a beta of 3.02. The firm's fifty day moving average is $80.90 and its two-hundred day moving average is $56.52. Spyre Therapeutics, Inc. has a 52-week low of $14.51 and a 52-week high of $102.06.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last released 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). As a group, analysts forecast that Spyre Therapeutics, Inc. will post -2.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SYRE. Wall Street Zen downgraded shares of Spyre Therapeutics from a "hold" rating to a "sell" rating in a report on Sunday, April 26th. Wells Fargo & Company raised their price target on Spyre Therapeutics from $50.00 to $90.00 and gave the company an "overweight" rating in a report on Tuesday, April 14th. Leerink Partners boosted their price objective on Spyre Therapeutics from $49.00 to $106.00 and gave the company an "outperform" rating in a research report on Monday, April 13th. Robert W. Baird upped their price objective on Spyre Therapeutics from $65.00 to $90.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 14th. Finally, Wedbush reiterated an "outperform" rating and set a $100.00 target price on shares of Spyre Therapeutics in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $101.42.

Insider Transactions at Spyre Therapeutics

In related news, insider Sheldon Sloan sold 8,334 shares of the business's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $87.70, for a total value of $730,891.80. Following the sale, the insider directly owned 8,334 shares in the company, valued at approximately $730,891.80. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Scott L. Burrows sold 7,500 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $87.74, for a total value of $658,050.00. Following the transaction, the chief financial officer directly owned 97,994 shares of the company's stock, valued at approximately $8,597,993.56. The trade was a 7.11% 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. Over the last ninety days, insiders sold 282,500 shares of company stock valued at $21,741,101. 15.69% of the stock is owned by company insiders.

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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