Vanguard Group Inc. Has $132.19 Million Stock Position in Spyre Therapeutics, Inc. $SYRE

Key Points

• Vanguard Group increased its stake in Spyre Therapeutics by 32.3% in the fourth quarter, holding 4,035,074 shares worth about $132.2 million and representing roughly 5.2% of the company.
• Several other institutional investors also raised their positions, and overall institutional ownership stands at 80.39% of Spyre Therapeutics’ stock.
• Insiders have recently sold shares, including the CFO and a director, while analysts remain broadly bullish with a consensus Buy rating and an average price target of $89.08.

Vanguard Group Inc. boosted its position in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 32.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,035,074 shares of the company's stock after buying an additional 984,344 shares during the period. Vanguard Group Inc. owned approximately 5.20% of Spyre Therapeutics worth $132,189,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Spyre Therapeutics by 18.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,018 shares of the company's stock valued at $442,000 after acquiring an additional 4,277 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Spyre Therapeutics by 13.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 47,279 shares of the company's stock worth $708,000 after purchasing an additional 5,723 shares in the last quarter. Rhumbline Advisers grew its position 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 during the period. New York State Common Retirement Fund increased its stake in 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 valued at $248,000 after purchasing an additional 6,300 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Spyre Therapeutics by 37.6% during the 2nd quarter. Invesco Ltd. now owns 34,680 shares of the company's stock valued at $519,000 after purchasing an additional 9,473 shares in the last quarter. 80.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Scott L. Burrows sold 12,500 shares of Spyre Therapeutics stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $71.37, for a total value of $892,125.00. Following the completion of the transaction, the chief financial officer owned 97,994 shares of the company's stock, valued at $6,993,831.78. The trade was a 11.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Thomas Henderson sold 80,000 shares of the 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 in the company, valued at $6,592,286.40. This trade represents a 47.45% 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. Insiders sold 233,791 shares of company stock worth $15,757,860 in the last 90 days. Corporate insiders own 15.69% of the company's stock.

Spyre Therapeutics Stock Performance

SYRE opened at $76.43 on Tuesday. The stock has a market capitalization of $6.64 billion, a PE ratio of -36.75 and a beta of 3.12. The stock's 50 day moving average price is $54.76 and its 200-day moving average price is $39.40. Spyre Therapeutics, Inc. has a 52-week low of $13.93 and a 52-week high of $78.80.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last issued its quarterly earnings data 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 -2.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Spyre Therapeutics from $55.00 to $88.00 and gave the company a "buy" rating in a research note on Tuesday, April 14th. Wells Fargo & Company raised their target price on Spyre Therapeutics from $50.00 to $90.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 14th. Leerink Partners raised their price objective on shares of Spyre Therapeutics from $49.00 to $106.00 and gave the company an "outperform" rating in a research report on Monday, April 13th. Wedbush upped their price objective on shares of Spyre Therapeutics from $65.00 to $80.00 and gave the stock an "outperform" rating in a research report on Monday, April 13th. Finally, Wall Street Zen lowered Spyre Therapeutics from a "hold" rating to a "sell" rating in a research note on Sunday, April 26th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $89.08.

About Spyre Therapeutics

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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