UBS Group AG Has $22.30 Million Stake in Spyre Therapeutics, Inc. $SYRE

Key Points

• UBS Group AG increased its stake in Spyre Therapeutics by 76.5% in Q4, ending with 680,566 shares worth about $22.3 million. Other large institutional investors, including Vanguard and Wellington, also added to their positions, and institutions now own 80.39% of the stock.
• Spyre Therapeutics shares rose 1.9% and recently traded near their 52-week high, with the stock opening at $76.43 versus a 12-month range of $13.93 to $78.80. The company has a market cap of about $6.64 billion.
• The company reported a smaller-than-expected loss for the quarter, posting EPS of -$0.74 versus analysts’ estimate of -$0.66. Meanwhile, executives sold shares in May, and analysts remain mostly positive with a consensus Buy rating and average target price of $89.08.

UBS Group AG raised its holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 76.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 680,566 shares of the company's stock after purchasing an additional 294,977 shares during the period. UBS Group AG owned approximately 0.88% of Spyre Therapeutics worth $22,295,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Spyre Therapeutics by 32.3% in the fourth quarter. Vanguard Group Inc. now owns 4,035,074 shares of the company's stock valued at $132,189,000 after buying an additional 984,344 shares in the last quarter. Wellington Management Group LLP increased its stake in Spyre Therapeutics by 8.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,640,312 shares of the company's stock worth $27,492,000 after acquiring an additional 126,834 shares during the period. TCG Crossover Management LLC acquired a new position in Spyre Therapeutics in the 3rd quarter valued at $18,446,000. Baker BROS. Advisors LP raised its holdings in Spyre Therapeutics by 59.6% in the 3rd quarter. Baker BROS. Advisors LP now owns 1,000,000 shares of the company's stock valued at $16,760,000 after acquiring an additional 373,297 shares in the last quarter. Finally, Polar Capital Holdings Plc lifted its position in shares of Spyre Therapeutics by 5.9% during the 3rd quarter. Polar Capital Holdings Plc now owns 788,788 shares of the company's stock valued at $13,220,000 after acquiring an additional 43,788 shares during the period. 80.39% of the stock is owned by institutional investors.

Spyre Therapeutics Stock Up 1.9%

Shares of SYRE stock opened at $76.43 on Tuesday. Spyre Therapeutics, Inc. has a twelve month low of $13.93 and a twelve month high of $78.80. The company has a market cap of $6.64 billion, a P/E ratio of -36.75 and a beta of 3.12. The business has a fifty day simple moving average of $54.76 and a 200 day simple moving average of $39.40.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last released its 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). As a group, equities research analysts anticipate that Spyre Therapeutics, Inc. will post -2.75 earnings per share for the current fiscal year.

Insider Activity at Spyre Therapeutics

In related news, CEO Cameron Turtle sold 15,000 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $71.37, for a total value of $1,070,550.00. Following the completion of the transaction, the chief executive officer owned 612,540 shares of the company's stock, valued at $43,716,979.80. This represents a 2.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Scott L. Burrows sold 12,500 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $71.37, for a total transaction of $892,125.00. Following the completion of the sale, the chief financial officer owned 97,994 shares in the company, valued at $6,993,831.78. This represents a 11.31% decrease in their position. 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 90 days, insiders sold 233,791 shares of company stock valued at $15,757,860. Company insiders own 15.69% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wells Fargo & Company raised their price target on Spyre Therapeutics from $50.00 to $90.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 14th. Robert W. Baird upped their price objective on shares of Spyre Therapeutics from $65.00 to $90.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 14th. Raymond James Financial initiated coverage on shares of Spyre Therapeutics in a research note on Monday, April 13th. They set a "strong-buy" rating and a $80.00 price objective on the stock. Stifel Nicolaus boosted their target price on shares of Spyre Therapeutics from $92.00 to $107.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen lowered shares of Spyre Therapeutics from a "hold" rating to a "sell" rating in a research report on Sunday, April 26th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus 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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