F m Investments LLC Acquires 48,825 Shares of Spyre Therapeutics, Inc. $SYRE

Key Points

• F m Investments LLC boosted its stake in Spyre Therapeutics by 88.9% in the fourth quarter, adding 48,825 shares to reach 103,718 shares worth about $3.4 million.
• Insiders have been selling shares, including recent sales by Sheldon Sloan and Director Michael Thomas Henderson, with total insider sales of 233,791 shares valued at $15.76 million over the past 90 days.
• Spyre Therapeutics reported a Q1 loss of $0.74 per share, wider than analysts expected, even as Wall Street analysts remain broadly bullish with a consensus Buy rating and an average price target of $89.08.

F m Investments LLC grew its holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 88.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 103,718 shares of the company's stock after acquiring an additional 48,825 shares during the quarter. F m Investments LLC owned 0.13% of Spyre Therapeutics worth $3,398,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. HighVista Strategies LLC increased its holdings in shares of Spyre Therapeutics by 91.3% in the third quarter. HighVista Strategies LLC now owns 215,746 shares of the company's stock worth $3,616,000 after acquiring an additional 102,941 shares in the last quarter. Candriam S.C.A. increased its holdings in shares of Spyre Therapeutics by 64.4% in the third quarter. Candriam S.C.A. now owns 404,362 shares of the company's stock worth $6,777,000 after acquiring an additional 158,332 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Spyre Therapeutics by 483.7% in the third quarter. JPMorgan Chase & Co. now owns 275,984 shares of the company's stock worth $4,625,000 after acquiring an additional 228,705 shares in the last quarter. AlphaQuest LLC increased its holdings in shares of Spyre Therapeutics by 1,485.1% in the third quarter. AlphaQuest LLC now owns 66,163 shares of the company's stock worth $1,109,000 after acquiring an additional 61,989 shares in the last quarter. Finally, Baker BROS. Advisors LP increased its holdings in shares of Spyre Therapeutics by 59.6% in the third quarter. Baker BROS. Advisors LP now owns 1,000,000 shares of the company's stock worth $16,760,000 after acquiring an additional 373,297 shares in the last quarter. 80.39% of the stock is currently owned by institutional investors.

Insider Transactions at Spyre Therapeutics

In related news, insider Sheldon Sloan sold 78,333 shares of the 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 directly owned 78,333 shares in the company, valued at approximately $5,600,809.50. This trade represents a 50.00% decrease in their ownership of the stock. The transaction 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 Michael Thomas Henderson sold 80,000 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $74.40, for a total value of $5,952,000.00. Following the transaction, the director directly owned 88,606 shares of the company's stock, valued at $6,592,286.40. This trade represents a 47.45% 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. Insiders have sold a total of 233,791 shares of company stock valued at $15,757,860 in the last ninety days. Corporate insiders own 15.69% of the company's stock.

Spyre Therapeutics Stock Performance

NASDAQ:SYRE opened at $75.04 on Friday. The company has a market cap of $6.52 billion, a PE ratio of -36.08 and a beta of 3.12. Spyre Therapeutics, Inc. has a 52-week low of $12.94 and a 52-week high of $76.00. The stock has a 50-day simple moving average of $53.47 and a 200 day simple moving average of $38.67.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last posted its quarterly earnings data 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, research analysts predict that Spyre Therapeutics, Inc. will post -2.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SYRE shares. Jefferies Financial Group increased their price target on Spyre Therapeutics from $47.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, April 13th. Deutsche Bank Aktiengesellschaft increased their price target on Spyre Therapeutics from $55.00 to $88.00 and gave the stock a "buy" rating in a report on Tuesday, April 14th. BTIG Research increased their price objective on Spyre Therapeutics from $70.00 to $98.00 and gave the stock a "buy" rating in a report on Monday, April 13th. Wells Fargo & Company increased their price objective on Spyre Therapeutics from $50.00 to $90.00 and gave the stock an "overweight" rating in a report on Tuesday, April 14th. Finally, Leerink Partners increased their price objective on Spyre Therapeutics from $49.00 to $106.00 and gave the stock an "outperform" rating in a report on Monday, April 13th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $89.08.

Spyre Therapeutics 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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