Stempoint Capital LP Grows Position in Spyre Therapeutics, Inc. $SYRE

Stempoint Capital LP increased its stake in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 417.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 167,606 shares of the company’s stock after acquiring an additional 135,229 shares during the quarter. Spyre Therapeutics comprises about 1.6% of Stempoint Capital LP’s portfolio, making the stock its 21st largest holding. Stempoint Capital LP’s holdings in Spyre Therapeutics were worth $8,454,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Summit Securities Group LLC purchased a new stake in Spyre Therapeutics in the 1st quarter worth $28,000. KBC Group NV bought a new position in shares of Spyre Therapeutics during the 1st quarter valued at about $69,000. Russell Investments Group Ltd. increased its holdings in shares of 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 stake in shares of Spyre Therapeutics in the fourth quarter worth about $74,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Spyre Therapeutics by 182.2% in the second quarter. Tower Research Capital LLC TRC now owns 5,769 shares of the company’s stock worth $86,000 after buying an additional 3,725 shares in the last quarter. 80.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SYRE shares. Citigroup lifted their price objective on Spyre Therapeutics from $64.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. BTIG Research increased their target price on Spyre Therapeutics from $98.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Wall Street Zen lowered shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Wells Fargo & Company boosted their price target on shares of Spyre Therapeutics from $50.00 to $90.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 14th. Finally, Wedbush reaffirmed an “outperform” rating and set a $100.00 price target on shares of Spyre Therapeutics in a research note on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Spyre Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $101.42.

Insider Activity

In related news, CFO Scott L. Burrows sold 7,500 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $87.74, for a total value of $658,050.00. Following the sale, the chief financial officer directly owned 97,994 shares of the company’s stock, valued at $8,597,993.56. This represents a 7.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cameron Turtle sold 15,000 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $87.69, for a total transaction of $1,315,350.00. Following the completion of the sale, the chief executive officer directly owned 582,540 shares in the company, valued at $51,082,932.60. This trade represents a 2.51% 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 a total of 282,500 shares of company stock worth $21,741,101 over the last 90 days. Insiders own 15.69% of the company’s stock.

Spyre Therapeutics Stock Performance

NASDAQ:SYRE opened at $97.87 on Thursday. The firm has a market capitalization of $8.61 billion, a PE ratio of -47.05 and a beta of 3.02. The stock’s fifty day moving average is $87.20 and its 200 day moving average is $62.24. Spyre Therapeutics, Inc. has a fifty-two week low of $14.51 and a fifty-two week high of $105.09.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.08). Equities analysts forecast that Spyre Therapeutics, Inc. will post -2.86 EPS for the current year.

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.