SG Americas Securities LLC Makes New $765,000 Investment in Spyre Therapeutics, Inc. $SYRE

Key Points

• SG Americas Securities LLC acquired 23,343 shares of Spyre Therapeutics in Q4 (about $765,000), and institutional investors now own roughly 80.39% of the company.
• Insiders have sold 62,958 shares worth $2.73M in the past 90 days — including CFO Scott L. Burrows and Sheldon Sloan selling on April 1 under pre-arranged Rule 10b5-1 plans — though insiders still hold 15.43% of the stock.
• SYRE trades near $51.29 with a market cap of $4.03B and a negative PE (−24.66); Wall Street’s consensus rating is a Buy with an average price target of $62.63.

SG Americas Securities LLC acquired a new stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,343 shares of the company's stock, valued at approximately $765,000.

A number of other large investors have also made changes to their positions in SYRE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Spyre Therapeutics by 18.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,018 shares of the company's stock worth $442,000 after purchasing an additional 4,277 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Spyre Therapeutics by 13.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 47,279 shares of the company's stock valued at $708,000 after purchasing an additional 5,723 shares in the last quarter. Rhumbline Advisers lifted its holdings in Spyre Therapeutics by 30.6% in the 2nd quarter. Rhumbline Advisers now owns 73,168 shares of the company's stock valued at $1,095,000 after purchasing an additional 17,145 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of Spyre Therapeutics by 61.4% during the 2nd quarter. New York State Common Retirement Fund now owns 16,565 shares of the company's stock worth $248,000 after purchasing an additional 6,300 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Spyre Therapeutics by 37.6% during the second quarter. Invesco Ltd. now owns 34,680 shares of the company's stock worth $519,000 after buying an additional 9,473 shares in the last quarter. Institutional investors and hedge funds own 80.39% of the company's stock.

Spyre Therapeutics Stock Performance

SYRE opened at $51.29 on Friday. Spyre Therapeutics, Inc. has a 1 year low of $11.50 and a 1 year high of $54.39. The company's 50 day simple moving average is $41.82 and its 200 day simple moving average is $32.19. The stock has a market capitalization of $4.03 billion, a PE ratio of -24.66 and a beta of 2.93.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.04). As a group, sell-side analysts expect that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current fiscal year.

Insider Transactions at Spyre Therapeutics

In related news, CFO Scott L. Burrows sold 7,500 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $49.34, for a total value of $370,050.00. Following the transaction, the chief financial officer directly owned 97,994 shares of the company's stock, valued at approximately $4,835,023.96. This trade represents a 7.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sheldon Sloan sold 7,958 shares of Spyre Therapeutics stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $50.00, for a total value of $397,900.00. Following the completion of the transaction, the insider owned 7,958 shares in the company, valued at $397,900. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 62,958 shares of company stock worth $2,734,375 in the last ninety days. Insiders own 15.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SYRE. Weiss Ratings reissued a "sell (e+)" rating on shares of Spyre Therapeutics in a research report on Monday, December 29th. Wells Fargo & Company lifted their target price on shares of Spyre Therapeutics from $40.00 to $50.00 and gave the stock an "overweight" rating in a research note on Friday, February 20th. Stifel Nicolaus boosted their price target on Spyre Therapeutics from $70.00 to $92.00 and gave the company a "buy" rating in a report on Wednesday, March 18th. Wall Street Zen lowered Spyre Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, February 21st. Finally, Leerink Partners upgraded Spyre Therapeutics to a "strong-buy" rating in a report on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $62.63.

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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