Universal Beteiligungs und Servicegesellschaft mbH Raises Stake in Spyre Therapeutics, Inc. $SYRE

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Spyre Therapeutics by 55.0% in Q4 to 171,211 shares (about $5.61 million), and overall institutional ownership stands at 80.39% as multiple funds added positions.
• Company insiders have been net sellers — including CEO Cameron Turtle (15,000 shares) and CFO Scott Burrows (7,500 shares) — with 62,958 shares sold over the past three months under Rule 10b5-1 plans, leaving insiders owning 15.69% of the stock.
• Research firms have aggressively raised price targets (examples: JonesTrading to $95, Baird to $90), leaving a consensus target of $85.08 and an overall analyst rating of "Buy" for Spyre Therapeutics.

Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 55.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 171,211 shares of the company's stock after purchasing an additional 60,755 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.22% of Spyre Therapeutics worth $5,609,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in Spyre Therapeutics by 61.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,770 shares of the company's stock valued at $124,000 after purchasing an additional 1,435 shares during the period. SG Americas Securities LLC purchased a new stake in Spyre Therapeutics in the fourth quarter valued at approximately $765,000. JPMorgan Chase & Co. grew its holdings in Spyre Therapeutics by 483.7% in the third quarter. JPMorgan Chase & Co. now owns 275,984 shares of the company's stock valued at $4,625,000 after purchasing an additional 228,705 shares during the period. TCG Crossover Management LLC purchased a new stake in Spyre Therapeutics in the third quarter valued at approximately $18,446,000. Finally, Dark Forest Capital Management LP purchased a new stake in Spyre Therapeutics in the third quarter valued at approximately $247,000. 80.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Spyre Therapeutics

In other news, CEO Cameron Turtle sold 15,000 shares of the business's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $49.33, for a total transaction of $739,950.00. Following the transaction, the chief executive officer directly owned 627,540 shares of the company's stock, valued at approximately $30,956,548.20. The trade was a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Scott L. Burrows sold 7,500 shares of the business's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $49.34, for a total transaction of $370,050.00. Following the transaction, the chief financial officer directly owned 97,994 shares in the company, valued at approximately $4,835,023.96. The trade was a 7.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 62,958 shares of company stock valued at $2,734,375. Corporate insiders own 15.69% of the company's stock.

Spyre Therapeutics Stock Down 4.5%

SYRE opened at $68.63 on Wednesday. Spyre Therapeutics, Inc. has a 52-week low of $12.28 and a 52-week high of $75.00. The company has a 50 day moving average of $50.31 and a two-hundred day moving average of $36.86. The company has a market cap of $5.41 billion, a P/E ratio of -33.00 and a beta of 2.93.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last released its quarterly earnings data on Thursday, February 19th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.04). Research analysts anticipate that Spyre Therapeutics, Inc. will post -2.8 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on SYRE. JonesTrading boosted 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. Robert W. Baird boosted their target price on shares of Spyre Therapeutics from $65.00 to $90.00 and gave the company an "outperform" rating in a report on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Spyre Therapeutics from $55.00 to $88.00 and gave the company a "buy" rating in a report on Tuesday, April 14th. Stifel Nicolaus boosted their target price on shares of Spyre Therapeutics from $70.00 to $92.00 and gave the company a "buy" rating in a report on Wednesday, March 18th. Finally, Wedbush boosted their price objective on shares of Spyre Therapeutics from $65.00 to $80.00 and gave the stock an "outperform" rating in a research note on Monday, April 13th. Two 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 company's stock. Based on data from MarketBeat, Spyre Therapeutics presently has an average rating of "Buy" and a consensus target price of $85.08.

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.

Want to see what other hedge funds are holding SYRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.