Spyre Therapeutics, Inc. $SYRE is Perceptive Advisors LLC’s 7th Largest Position

Perceptive Advisors LLC grew its position in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 23.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,783,225 shares of the company’s stock after buying an additional 714,000 shares during the quarter. Spyre Therapeutics accounts for approximately 3.7% of Perceptive Advisors LLC’s holdings, making the stock its 7th largest position. Perceptive Advisors LLC owned approximately 4.36% of Spyre Therapeutics worth $190,826,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Summit Securities Group LLC purchased a new stake in Spyre Therapeutics during the first quarter valued at $28,000. KBC Group NV bought a new position in Spyre Therapeutics in the first quarter valued at about $69,000. Russell Investments Group Ltd. boosted its position in Spyre Therapeutics by 2,881.7% in the third 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 during the last quarter. Persistent Asset Partners Ltd purchased a new position in Spyre Therapeutics in the fourth quarter worth about $74,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Spyre Therapeutics by 182.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,769 shares of the company’s stock valued at $86,000 after purchasing an additional 3,725 shares during the period. 80.39% of the stock is currently owned by hedge funds and other institutional investors.

Spyre Therapeutics Price Performance

SYRE stock opened at $98.33 on Friday. Spyre Therapeutics, Inc. has a 1-year low of $14.51 and a 1-year high of $105.09. The company has a market capitalization of $8.65 billion, a price-to-earnings ratio of -47.27 and a beta of 3.02. The business has a 50 day simple moving average of $88.23 and a two-hundred day simple moving average of $62.99.

Spyre Therapeutics (NASDAQ:SYRE) last announced 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). Sell-side analysts anticipate that Spyre Therapeutics, Inc. will post -2.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SYRE shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of Spyre Therapeutics from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Wolfe Research lowered shares of Spyre Therapeutics from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, July 28th. Wells Fargo & Company upped their target price on shares of Spyre Therapeutics from $50.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, April 14th. Jefferies Financial Group increased their price target on shares of Spyre Therapeutics from $47.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Finally, BTIG Research lifted their price target on shares of Spyre Therapeutics from $98.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.42.

Insider Activity at Spyre Therapeutics

In related news, CEO Cameron Turtle sold 15,000 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $70.43, for a total transaction of $1,056,450.00. Following the completion of the transaction, the chief executive officer directly owned 597,540 shares of the company’s stock, valued at approximately $42,084,742.20. This trade represents a 2.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sheldon Sloan sold 8,334 shares of Spyre Therapeutics stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $87.70, for a total transaction of $730,891.80. Following the completion of the sale, the insider owned 8,334 shares in the company, valued at approximately $730,891.80. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 176,667 shares of company stock worth $14,177,617 in the last three months. Insiders own 15.69% of the company’s stock.

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.