Spyre Therapeutics, Inc. $SYRE Stake Decreased by Commodore Capital LP

Commodore Capital LP lessened its position in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 19.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,912,380 shares of the company's stock after selling 475,865 shares during the quarter. Spyre Therapeutics makes up about 5.6% of Commodore Capital LP's investment portfolio, making the stock its 5th largest holding. Commodore Capital LP owned about 2.20% of Spyre Therapeutics worth $96,460,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SYRE. Perceptive Advisors LLC lifted its position in Spyre Therapeutics by 149.6% during the fourth quarter. Perceptive Advisors LLC now owns 3,069,225 shares of the company's stock valued at $100,548,000 after buying an additional 1,839,780 shares during the period. Janus Henderson Group PLC increased its stake in shares of Spyre Therapeutics by 13,969.3% in the 4th quarter. Janus Henderson Group PLC now owns 1,829,009 shares of the company's stock worth $59,918,000 after acquiring an additional 1,816,009 shares in the last quarter. RA Capital Management L.P. purchased a new position in Spyre Therapeutics during the 4th quarter valued at about $53,124,000. Remedium Capital Partners LLC purchased a new position in Spyre Therapeutics during the 4th quarter valued at about $47,706,000. Finally, TCG Crossover Management LLC bought a new stake in Spyre Therapeutics during the third quarter worth about $18,446,000. 80.39% of the stock is currently owned by institutional investors.

Spyre Therapeutics Stock Performance

NASDAQ:SYRE opened at $102.13 on Monday. Spyre Therapeutics, Inc. has a 12 month low of $14.51 and a 12 month high of $105.09. The company has a market cap of $8.98 billion, a PE ratio of -49.10 and a beta of 3.02. The company has a 50 day simple moving average of $85.42 and a two-hundred day simple moving average of $60.79.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last released its quarterly earnings results 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). Research analysts forecast that Spyre Therapeutics, Inc. will post -2.86 earnings per share for the current year.

Insider Transactions at Spyre Therapeutics

In other Spyre Therapeutics news, CEO Cameron Turtle sold 15,000 shares of the firm's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $70.43, for a total value of $1,056,450.00. Following the transaction, the chief executive officer directly owned 597,540 shares of the company's stock, valued at approximately $42,084,742.20. This trade represents a 2.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 company's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $74.40, for a total transaction of $5,952,000.00. Following the sale, the director directly owned 88,606 shares of the company's stock, valued at $6,592,286.40. The trade was a 47.45% 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 282,500 shares of company stock worth $21,741,101 in the last ninety days. Insiders own 15.69% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Leerink Partners upped their price objective on shares of Spyre Therapeutics from $49.00 to $106.00 and gave the stock an "outperform" rating in a report on Monday, April 13th. JonesTrading lifted their target price on shares of Spyre Therapeutics from $64.00 to $95.00 and gave the company a "buy" rating in a report on Friday, April 17th. Citigroup boosted their price target on Spyre Therapeutics from $64.00 to $97.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft upped their price target on Spyre Therapeutics from $115.00 to $135.00 and gave the stock a "buy" rating in a research note on Tuesday, June 23rd. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Spyre Therapeutics in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Spyre Therapeutics has an average rating of "Moderate Buy" and an average target price of $101.42.

Spyre Therapeutics Company 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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