Profund Advisors LLC Acquires 6,987 Shares of Spyre Therapeutics, Inc. $SYRE

Profund Advisors LLC grew its holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 36.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,406 shares of the company’s stock after buying an additional 6,987 shares during the period. Profund Advisors LLC’s holdings in Spyre Therapeutics were worth $2,351,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in shares of Spyre Therapeutics by 16.0% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 13,050 shares of the company’s stock valued at $1,162,000 after acquiring an additional 1,800 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in Spyre Therapeutics by 16.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 16,088 shares of the company’s stock worth $1,363,000 after acquiring an additional 2,267 shares in the last quarter. Moody Aldrich Partners LLC increased its stake in Spyre Therapeutics by 4.1% during the third quarter. Moody Aldrich Partners LLC now owns 44,195 shares of the company’s stock worth $3,935,000 after acquiring an additional 1,737 shares during the last quarter. Sterling Capital Management LLC increased its stake in Spyre Therapeutics by 862.6% during the third quarter. Sterling Capital Management LLC now owns 2,522 shares of the company’s stock worth $225,000 after acquiring an additional 2,260 shares during the last quarter. Finally, Inspire Investing LLC bought a new stake in Spyre Therapeutics during the third quarter worth approximately $405,000. 80.39% of the stock is currently owned by institutional investors.

Insider Activity at Spyre Therapeutics

In other news, CFO Scott Burrows sold 18,232 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $89.35, for a total transaction of $1,629,029.20. Following the transaction, the chief financial officer directly owned 79,762 shares of the company’s stock, valued at approximately $7,126,734.70. This trade represents a 18.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Cameron Turtle sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $87.29, for a total transaction of $1,309,350.00. Following the transaction, the chief executive officer directly owned 552,540 shares in the company, valued at approximately $48,231,216.60. This trade represents a 2.64% 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 have sold 161,064 shares of company stock valued at $14,753,768 over the last 90 days. 15.69% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SYRE has been the subject of several analyst reports. Wells Fargo & Company raised their price objective on Spyre Therapeutics from $90.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Spyre Therapeutics in a report on Tuesday, September 1st. Guggenheim boosted their target price on Spyre Therapeutics from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. BTIG Research restated a “buy” rating and set a $121.00 price target on shares of Spyre Therapeutics in a report on Monday, October 19th. Finally, Robert W. Baird set a $120.00 price target on Spyre Therapeutics in a research report on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, thirteen 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.com, Spyre Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $110.40.

Spyre Therapeutics Stock Performance

NASDAQ:SYRE opened at $96.56 on Monday. The company has a market cap of $9.84 billion, a price-to-earnings ratio of -49.52 and a beta of 3.24. Spyre Therapeutics, Inc. has a twelve month low of $21.15 and a twelve month high of $110.18. The stock has a fifty day simple moving average of $90.06 and a 200-day simple moving average of $72.85.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.40. As a group, equities research analysts predict that Spyre Therapeutics, Inc. will post -2.71 EPS for the current fiscal year.

Spyre Therapeutics Company Profile

Spyre Therapeutics, Inc is a clinical-stage biotechnology company focused on developing next-generation treatments for inflammatory bowel disease (IBD), including Crohn’s disease and ulcerative colitis. The company’s approach is centered on engineered antibody therapies designed to provide durable disease control, convenient dosing and improved treatment characteristics.

Spyre’s investigational pipeline includes antibody programs directed at important inflammatory pathways, including interleukin-23 (IL-23) and TL1A.