Emerald Advisers LLC Sells 22,744 Shares of Spyre Therapeutics, Inc. $SYRE

Emerald Advisers LLC decreased its holdings in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 3.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 613,365 shares of the company’s stock after selling 22,744 shares during the quarter. Emerald Advisers LLC’s holdings in Spyre Therapeutics were worth $30,938,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. HighVista Strategies LLC increased its holdings in shares of Spyre Therapeutics by 91.3% in the 3rd quarter. HighVista Strategies LLC now owns 215,746 shares of the company’s stock worth $3,616,000 after buying an additional 102,941 shares during the last quarter. Capital International Investors raised its position in shares of Spyre Therapeutics by 46.0% during the 4th quarter. Capital International Investors now owns 3,492,541 shares of the company’s stock valued at $114,416,000 after buying an additional 1,100,000 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Spyre Therapeutics by 483.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 275,984 shares of the company’s stock valued at $4,625,000 after acquiring an additional 228,705 shares during the last quarter. UBS Group AG lifted its holdings in shares of Spyre Therapeutics by 76.5% in the 4th quarter. UBS Group AG now owns 680,566 shares of the company’s stock valued at $22,295,000 after acquiring an additional 294,977 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Spyre Therapeutics by 32.3% in the 4th quarter. Vanguard Group Inc. now owns 4,035,074 shares of the company’s stock valued at $132,189,000 after acquiring an additional 984,344 shares during the last quarter. Institutional investors own 80.39% of the company’s stock.

Insider Activity

In other Spyre Therapeutics news, CFO Scott L. Burrows sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $87.74, for a total transaction of $658,050.00. Following the completion of the transaction, the chief financial officer owned 97,994 shares in the company, valued at $8,597,993.56. The trade was a 7.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Thomas Henderson sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $100.00, for a total value of $2,000,000.00. Following the transaction, the director directly owned 68,606 shares in the company, valued at approximately $6,860,600. This represents a 22.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 282,500 shares of company stock worth $21,741,101 in the last ninety days. 15.69% of the stock is currently owned by company insiders.

Spyre Therapeutics Trading Down 4.1%

Spyre Therapeutics stock opened at $93.73 on Tuesday. Spyre Therapeutics, Inc. has a 12-month low of $14.51 and a 12-month high of $102.06. The firm has a 50-day moving average price of $80.90 and a 200-day moving average price of $56.52. The firm has a market capitalization of $8.24 billion, a PE ratio of -45.06 and a beta of 3.02.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.08). As a group, sell-side analysts predict that Spyre Therapeutics, Inc. will post -2.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SYRE shares. Wedbush reissued an “outperform” rating and set a $100.00 price objective on shares of Spyre Therapeutics in a research note on Tuesday, June 16th. Jefferies Financial Group raised their price objective on Spyre Therapeutics from $47.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, April 13th. Raymond James Financial initiated coverage on Spyre Therapeutics in a report on Monday, April 13th. They issued a “strong-buy” rating and a $80.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Spyre Therapeutics in a report on Thursday, June 4th. Finally, JonesTrading boosted their target price on Spyre Therapeutics from $64.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.42.

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.