Dimensional Fund Advisors LP Lowers Stock Position in Spyre Therapeutics, Inc. $SYRE

Dimensional Fund Advisors LP lowered its position in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 38.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,697 shares of the company’s stock after selling 29,593 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Spyre Therapeutics were worth $2,406,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of SYRE. Optimize Financial Inc grew its position in Spyre Therapeutics by 1.5% during the fourth quarter. Optimize Financial Inc now owns 25,331 shares of the company’s stock valued at $830,000 after buying an additional 364 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in Spyre Therapeutics by 0.5% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 106,664 shares of the company’s stock valued at $1,788,000 after acquiring an additional 522 shares during the period. Summit Securities Group LLC purchased a new position in shares of Spyre Therapeutics in the first quarter worth about $28,000. California State Teachers Retirement System lifted its stake in shares of Spyre Therapeutics by 1.8% during the 2nd quarter. California State Teachers Retirement System now owns 33,201 shares of the company’s stock valued at $497,000 after buying an additional 603 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in Spyre Therapeutics by 4.5% during the 4th quarter. AQR Capital Management LLC now owns 17,820 shares of the company’s stock valued at $584,000 after acquiring an additional 773 shares during the period. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Insider Buying and Selling

In other news, Director Michael Thomas Henderson sold 20,000 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $100.00, for a total transaction of $2,000,000.00. Following the sale, the director owned 68,606 shares in the company, valued at approximately $6,860,600. The trade was a 22.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sheldon Sloan sold 8,334 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $87.70, for a total transaction of $730,891.80. Following the completion of the sale, the insider directly owned 8,334 shares in the company, valued at $730,891.80. This represents a 50.00% 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 142,167 shares of company stock valued at $12,779,292 over the last quarter. 15.69% of the stock is currently owned by insiders.

Spyre Therapeutics Stock Performance

Shares of Spyre Therapeutics stock opened at $101.85 on Friday. The company’s 50 day moving average price is $93.61 and its 200-day moving average price is $67.63. Spyre Therapeutics, Inc. has a 52-week low of $14.51 and a 52-week high of $108.14. The stock has a market capitalization of $8.96 billion, a price-to-earnings ratio of -52.23 and a beta of 3.03.

Spyre Therapeutics (NASDAQ:SYRE) last posted its earnings results on Tuesday, August 4th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.40. As a group, equities research analysts forecast that Spyre Therapeutics, Inc. will post -2.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SYRE. Wedbush lifted their target price on Spyre Therapeutics from $100.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Robert W. Baird set a $120.00 target price on Spyre Therapeutics in a research note on Wednesday, August 5th. BTIG Research upped their price objective on shares of Spyre Therapeutics from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday. Wolfe Research cut shares of Spyre Therapeutics from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, July 28th. Finally, Wall Street Zen raised Spyre Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Spyre Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $111.69.

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.