Wellington Management Group LLP Has $140.41 Million Stock Position in Spyre Therapeutics, Inc. $SYRE

Wellington Management Group LLP lessened its stake in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 13.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,581,505 shares of the company's stock after selling 243,306 shares during the period. Wellington Management Group LLP owned about 1.80% of Spyre Therapeutics worth $140,406,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Summit Securities Group LLC acquired a new stake in shares of Spyre Therapeutics during the first quarter valued at approximately $28,000. GAMMA Investing LLC boosted its stake in Spyre Therapeutics by 26.8% in the 2nd quarter. GAMMA Investing LLC now owns 663 shares of the company's stock worth $59,000 after purchasing an additional 140 shares during the period. KBC Group NV purchased a new position in Spyre Therapeutics during the 1st quarter worth approximately $69,000. Russell Investments Group Ltd. grew its position in Spyre Therapeutics by 2,881.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company's stock worth $71,000 after purchasing an additional 4,092 shares in the last quarter. Finally, Persistent Asset Partners Ltd purchased a new position in Spyre Therapeutics during the 4th quarter worth approximately $74,000. Institutional investors and hedge funds own 80.39% of the company's stock.

Spyre Therapeutics Price Performance

Shares of SYRE stock opened at $89.33 on Tuesday. The firm has a market cap of $7.86 billion, a P/E ratio of -45.81 and a beta of 3.03. Spyre Therapeutics, Inc. has a fifty-two week low of $14.51 and a fifty-two week high of $110.18. The stock's 50-day moving average is $98.21 and its two-hundred day moving average is $73.42.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.40. As a group, research analysts expect that Spyre Therapeutics, Inc. will post -2.62 EPS for the current year.

Insider Activity at Spyre Therapeutics

In related news, CEO Cameron Turtle sold 15,000 shares of the company's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $95.51, for a total value of $1,432,650.00. Following the completion of the sale, the chief executive officer directly owned 567,540 shares in the company, valued at approximately $54,205,745.40. This represents a 2.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Scott L. Burrows sold 15,000 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $87.13, for a total transaction of $1,306,950.00. Following the transaction, the chief financial officer directly owned 97,994 shares in the company, valued at $8,538,217.22. The trade was a 13.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 119,667 shares of company stock worth $11,189,892 over the last quarter. 15.69% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on the company. Wolfe Research cut Spyre Therapeutics from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, July 28th. Weiss Ratings reissued a "sell (d-)" rating on shares of Spyre Therapeutics in a research note on Thursday, June 4th. Citigroup raised their price objective on Spyre Therapeutics from $64.00 to $97.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Stifel Nicolaus raised their price objective on Spyre Therapeutics from $92.00 to $107.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen downgraded Spyre Therapeutics from a "hold" rating to a "sell" rating in a report on Sunday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $109.69.

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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