Spyre Therapeutics, Inc. $SYRE Stock Position Reduced by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Spyre Therapeutics by 73.6%, now holding about 0.33% of the company after selling 550,484 shares during the first quarter.
• The stock of Spyre Therapeutics is currently priced at $14.88, with a market capitalization of $898.75 million and a PE ratio of -4.38.
• Analysts have mixed ratings on Spyre Therapeutics, with pricing targets ranging from $56.17 to $70.00 as some raise buy ratings while Wall Street Zen has downgraded it to a sell.

Goldman Sachs Group Inc. lessened its holdings in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 73.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 197,068 shares of the company's stock after selling 550,484 shares during the period. Goldman Sachs Group Inc. owned approximately 0.33% of Spyre Therapeutics worth $3,180,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Spyre Therapeutics by 4.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,741 shares of the company's stock worth $527,000 after acquiring an additional 916 shares during the period. AlphaQuest LLC grew its holdings in Spyre Therapeutics by 45.2% during the first quarter. AlphaQuest LLC now owns 3,191 shares of the company's stock worth $51,000 after acquiring an additional 993 shares during the period. GF Fund Management CO. LTD. acquired a new position in Spyre Therapeutics during the fourth quarter worth $29,000. MetLife Investment Management LLC grew its holdings in Spyre Therapeutics by 11.0% during the first quarter. MetLife Investment Management LLC now owns 23,733 shares of the company's stock worth $383,000 after acquiring an additional 2,351 shares during the period. Finally, Corebridge Financial Inc. boosted its position in Spyre Therapeutics by 13.8% during the first quarter. Corebridge Financial Inc. now owns 19,595 shares of the company's stock worth $316,000 after purchasing an additional 2,382 shares in the last quarter. Institutional investors and hedge funds own 80.39% of the company's stock.

Spyre Therapeutics Trading Down 1.0%

NASDAQ SYRE traded down $0.15 during mid-day trading on Tuesday, reaching $15.14. 48,917 shares of the company's stock traded hands, compared to its average volume of 599,278. Spyre Therapeutics, Inc. has a 1-year low of $10.91 and a 1-year high of $40.26. The company has a fifty day simple moving average of $16.40 and a 200-day simple moving average of $15.75. The company has a market cap of $914.46 million, a price-to-earnings ratio of -4.46 and a beta of 2.87.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.49) earnings per share for the quarter, beating analysts' consensus estimates of ($0.73) by $0.24. Equities research analysts forecast that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Spyre Therapeutics news, CFO Scott L. Burrows sold 18,428 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $16.26, for a total transaction of $299,639.28. Following the transaction, the chief financial officer owned 97,994 shares of the company's stock, valued at $1,593,382.44. This trade represents a 15.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 6.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SYRE has been the topic of several recent research reports. Wedbush reiterated an "outperform" rating and issued a $65.00 price objective on shares of Spyre Therapeutics in a research report on Wednesday, August 6th. Wall Street Zen downgraded Spyre Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, BTIG Research reiterated a "buy" rating and set a $70.00 target price on shares of Spyre Therapeutics in a research report on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. According to data from MarketBeat.com, Spyre Therapeutics presently has a consensus rating of "Buy" and a consensus target price of $56.17.

Spyre Therapeutics Company Profile

Spyre Therapeutics, Inc, a preclinical stage biotechnology company, focuses on developing therapeutics for patients living with inflammatory bowel disease (IBD). It develops SPY001, a human monoclonal immunoglobulin G1 antibody designed to bind selectively to the a4ß7 integrin being developed for the treatment of IBD (ulcerative colitis and Crohn's disease).