178,389 Shares in Spyre Therapeutics, Inc. $SYRE Bought by First Trust Advisors LP

First Trust Advisors LP purchased a new position in Spyre Therapeutics, Inc. (NASDAQ:SYRE) in the first quarter, Holdings Channel.com reports. The firm purchased 178,389 shares of the company’s stock, valued at approximately $8,998,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SYRE. Optimize Financial Inc boosted its stake in shares of Spyre Therapeutics by 1.5% in the fourth quarter. Optimize Financial Inc now owns 25,331 shares of the company’s stock worth $830,000 after acquiring an additional 364 shares during the period. Mercer Global Advisors Inc. ADV grew its position in shares of Spyre Therapeutics by 0.5% during the third quarter. Mercer Global Advisors Inc. ADV now owns 106,664 shares of the company’s stock worth $1,788,000 after purchasing an additional 522 shares in the last quarter. Summit Securities Group LLC bought a new stake in Spyre Therapeutics during the 1st quarter valued at approximately $28,000. California State Teachers Retirement System raised its stake in 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 purchasing an additional 603 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in Spyre Therapeutics by 4.5% in the 4th quarter. AQR Capital Management LLC now owns 17,820 shares of the company’s stock worth $584,000 after purchasing an additional 773 shares in the last quarter. 80.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SYRE has been the subject of several recent analyst reports. Wells Fargo & Company upped their price target on Spyre Therapeutics from $50.00 to $90.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 14th. Leerink Partners lifted their price objective on shares of Spyre Therapeutics from $49.00 to $106.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Stifel Nicolaus boosted their target price on shares of Spyre Therapeutics from $92.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Raymond James Financial initiated coverage on shares of Spyre Therapeutics in a research report on Monday, April 13th. They set a “strong-buy” rating and a $80.00 target price for the company. Finally, BTIG Research raised their target price on shares of Spyre Therapeutics from $98.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Spyre Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $101.42.

Spyre Therapeutics Stock Performance

SYRE stock opened at $98.33 on Friday. The firm has a fifty day moving average price of $88.23 and a 200 day moving average price of $62.99. Spyre Therapeutics, Inc. has a fifty-two week low of $14.51 and a fifty-two week high of $105.09. The firm has a market cap of $8.65 billion, a PE ratio of -47.27 and a beta of 3.02.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings results 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). On average, equities analysts predict that Spyre Therapeutics, Inc. will post -2.86 EPS for the current year.

Insider Buying and Selling at Spyre Therapeutics

In other news, CFO Scott L. Burrows sold 7,500 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $87.74, for a total transaction of $658,050.00. Following the sale, the chief financial officer directly owned 97,994 shares in the company, valued at approximately $8,597,993.56. This represents a 7.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 stock in a transaction dated 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 transaction, the insider directly owned 8,334 shares of the company’s stock, valued at approximately $730,891.80. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 valued at $14,177,617 over the last quarter. 15.69% of the stock is owned by corporate insiders.

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.