Seven Fleet Capital Management LP Sells 6,390 Shares of Spyre Therapeutics, Inc. $SYRE

Seven Fleet Capital Management LP trimmed its holdings in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 32.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 13,300 shares of the company’s stock after selling 6,390 shares during the period. Seven Fleet Capital Management LP’s holdings in Spyre Therapeutics were worth $1,181,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SYRE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Spyre Therapeutics by 18.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,018 shares of the company’s stock worth $442,000 after acquiring an additional 4,277 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Spyre Therapeutics by 13.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 47,279 shares of the company’s stock valued at $708,000 after acquiring an additional 5,723 shares in the last quarter. Rhumbline Advisers lifted its holdings in Spyre Therapeutics by 30.6% in the 2nd quarter. Rhumbline Advisers now owns 73,168 shares of the company’s stock worth $1,095,000 after purchasing an additional 17,145 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in Spyre Therapeutics by 61.4% in the 2nd quarter. New York State Common Retirement Fund now owns 16,565 shares of the company’s stock worth $248,000 after purchasing an additional 6,300 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Spyre Therapeutics by 37.6% during the second quarter. Invesco Ltd. now owns 34,680 shares of the company’s stock worth $519,000 after purchasing an additional 9,473 shares during the period. 80.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Spyre Therapeutics

In other Spyre Therapeutics news, CFO Scott L. Burrows sold 18,232 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $89.35, for a total value of $1,629,029.20. Following the sale, the chief financial officer directly owned 79,762 shares in the company, valued at $7,126,734.70. This trade represents a 18.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Heidy King-Jones sold 27,999 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $87.31, for a total transaction of $2,444,592.69. Following the transaction, the insider owned 2,845 shares in the company, valued at approximately $248,396.95. The trade was a 90.78% 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 have sold a total of 180,465 shares of company stock valued at $16,638,714 in the last three months. 15.69% of the stock is owned by insiders.

Spyre Therapeutics Stock Up 2.0%

SYRE opened at $88.98 on Friday. The stock’s 50 day moving average price is $98.05 and its two-hundred day moving average price is $74.63. The firm has a market capitalization of $7.82 billion, a P/E ratio of -45.63 and a beta of 2.99. Spyre Therapeutics, Inc. has a 12-month low of $14.51 and a 12-month high of $110.18.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Wolfe Research downgraded Spyre Therapeutics from an “outperform” rating to a “peer perform” rating in a report on Tuesday, July 28th. Wedbush decreased their price objective on shares of Spyre Therapeutics from $130.00 to $123.00 and set an “outperform” rating for the company in a report on Wednesday, August 26th. Guggenheim upped their price objective on shares of Spyre Therapeutics from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. BTIG Research lowered their target price on shares of Spyre Therapeutics from $132.00 to $121.00 and set a “buy” rating on the stock in a research note on Wednesday, August 26th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Spyre Therapeutics from $135.00 to $127.00 and set a “buy” rating on the stock in a report on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $109.69.

Key Spyre Therapeutics News

Here are the key news stories impacting Spyre Therapeutics this week:

• Positive Sentiment: Management will participate in the Citi BioPharma Back to School Conference on September 9, the Wells Fargo Healthcare Conference on September 10, and the Stifel Immunology and Inflammation Forum on September 23. These events could provide updates on Spyre’s clinical programs, development strategy, and potential catalysts. Spyre Therapeutics to Participate in Upcoming September Investor Conferences
• Positive Sentiment: Spyre’s independent compensation committee approved stock options covering 2,106 shares and 745 restricted stock units for a new non-executive employee. The awards were intended to secure the employee’s acceptance and may support the company’s ability to recruit talent, although the equity issuance has a modest dilution effect. Spyre Therapeutics Announces Grants of Inducement Awards
• Neutral Sentiment: Spyre’s latest quarterly loss of $0.36 per share was better than the expected $0.76 loss. However, the company remains unprofitable, with analysts forecasting a full-year loss of approximately $2.62 per share. The earnings beat alone has not provided a lasting catalyst.
• Negative Sentiment: Several insiders reported sales totaling roughly 69,000 shares. CEO Cameron Turtle sold 15,000 shares, CFO Scott Burrows sold 25,732 shares, and Heidy King-Jones sold 28,399 shares. The transactions were made under pre-arranged Rule 10b5-1 plans; Burrows said his sales covered tax withholding obligations. Even so, the volume of selling—particularly King-Jones’s substantial reduction in ownership—could weigh on investor sentiment. Spyre Therapeutics Insider Trading
• Negative Sentiment: A Zacks report noted that SYRE had declined 16.6% since its latest earnings release, suggesting investors remain focused on the need for clinical progress and additional company-specific catalysts. Spyre Therapeutics Down 16.6% Since Last Earnings Report

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.