Jefferies Financial Group Inc. Has $20.79 Million Stock Holdings in Spyre Therapeutics, Inc. $SYRE

Jefferies Financial Group Inc. lifted its position in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 11.2% in the second quarter, HoldingsChannel reports. The fund owned 1,388,854 shares of the company’s stock after buying an additional 140,000 shares during the period. Jefferies Financial Group Inc.’s holdings in Spyre Therapeutics were worth $20,791,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Emerald Advisers LLC raised its holdings in Spyre Therapeutics by 3.3% during the 2nd quarter. Emerald Advisers LLC now owns 565,863 shares of the company’s stock worth $8,471,000 after purchasing an additional 18,036 shares during the last quarter. Woodline Partners LP grew its position in shares of Spyre Therapeutics by 31.8% during the 1st quarter. Woodline Partners LP now owns 464,808 shares of the company’s stock worth $7,500,000 after buying an additional 112,128 shares during the period. Corebridge Financial Inc. grew its position in shares of Spyre Therapeutics by 13.8% during the 1st quarter. Corebridge Financial Inc. now owns 19,595 shares of the company’s stock worth $316,000 after buying an additional 2,382 shares during the period. Nuveen LLC bought a new stake in shares of Spyre Therapeutics during the first quarter worth approximately $2,261,000. Finally, Vanguard Group Inc. lifted its holdings in Spyre Therapeutics by 1.8% in the first quarter. Vanguard Group Inc. now owns 2,898,267 shares of the company’s stock valued at $46,764,000 after buying an additional 51,794 shares during the period. Institutional investors own 80.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on SYRE shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Spyre Therapeutics in a research report on Friday, September 26th. They set a “buy” rating and a $43.00 target price for the company. Wall Street Zen upgraded Spyre Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Wedbush reissued an “outperform” rating and issued a $65.00 target price on shares of Spyre Therapeutics in a research note on Wednesday, August 6th. Weiss Ratings restated a “sell (e+)” rating on shares of Spyre Therapeutics in a report on Thursday, November 13th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $70.00 price target on shares of Spyre Therapeutics in a research note on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Spyre Therapeutics currently has an average rating of “Buy” and an average price target of $50.00.

Spyre Therapeutics Price Performance

NASDAQ:SYRE opened at $24.26 on Monday. The business’s 50-day simple moving average is $20.41 and its 200-day simple moving average is $17.61. Spyre Therapeutics, Inc. has a fifty-two week low of $10.91 and a fifty-two week high of $29.06. The stock has a market capitalization of $1.88 billion, a PE ratio of -7.14 and a beta of 2.99.

Spyre Therapeutics (NASDAQ:SYRE) last announced its earnings results on Tuesday, November 4th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.53. On average, research analysts expect that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current year.

Insider Buying and Selling at Spyre Therapeutics

In other news, CFO Scott L. Burrows sold 18,428 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $16.26, for a total value of $299,639.28. Following the sale, the chief financial officer directly owned 97,994 shares in the company, valued at $1,593,382.44. The trade was a 15.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Cameron Turtle sold 45,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $23.33, for a total value of $1,049,850.00. Following the transaction, the chief executive officer directly owned 701,907 shares of the company’s stock, valued at $16,375,490.31. This represents a 6.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 15.43% of the company’s stock.

Spyre Therapeutics Profile

Spyre Therapeutics, Inc, a preclinical stage biotechnology company, focuses on developing therapeutics for patients living with inflammatory bowel disease (IBD). It develops SPY001, a human monoclonal immunoglobulin G1 antibody designed to bind selectively to the a4ß7 integrin being developed for the treatment of IBD (ulcerative colitis and Crohn's disease).