Spyre Therapeutics, Inc. $SYRE Shares Sold by Candriam S.C.A.

Candriam S.C.A. trimmed its holdings in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 17.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 448,570 shares of the company’s stock after selling 97,742 shares during the period. Candriam S.C.A. owned about 0.44% of Spyre Therapeutics worth $40,082,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SYRE. Perceptive Advisors LLC increased its holdings in shares of Spyre Therapeutics by 23.3% in the first quarter. Perceptive Advisors LLC now owns 3,783,225 shares of the company’s stock worth $190,826,000 after purchasing an additional 714,000 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Spyre Therapeutics by 192.6% during the first quarter. Bank of America Corp DE now owns 1,228,093 shares of the company’s stock valued at $61,945,000 after acquiring an additional 808,366 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Spyre Therapeutics in the 3rd quarter valued at about $53,349,000. Bank of New York Mellon Corp purchased a new stake in shares of Spyre Therapeutics during the 2nd quarter worth $21,768,000. Finally, ADAR1 Capital Management LLC raised its stake in shares of Spyre Therapeutics by 893.6% during the 1st quarter. ADAR1 Capital Management LLC now owns 338,323 shares of the company’s stock worth $17,065,000 after acquiring an additional 304,272 shares in the last quarter. 80.39% of the stock is owned by hedge funds and other institutional investors.

Spyre Therapeutics Price Performance

Shares of NASDAQ:SYRE opened at $103.86 on Friday. The firm has a market capitalization of $9.86 billion, a price-to-earnings ratio of -37.90 and a beta of 3.24. Spyre Therapeutics, Inc. has a 12 month low of $21.15 and a 12 month high of $110.18. The business’s 50 day simple moving average is $89.79 and its 200-day simple moving average is $74.50.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.12). On average, equities analysts anticipate that Spyre Therapeutics, Inc. will post -2.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SYRE shares. BTIG Research reiterated a “buy” rating and issued a $121.00 target price on shares of Spyre Therapeutics in a research report on Monday, October 19th. Wedbush lowered their price target on Spyre Therapeutics from $123.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday. Wall Street Zen lowered shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, October 31st. Mizuho increased their price objective on Spyre Therapeutics from $84.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Finally, Robert W. Baird set a $120.00 price target on Spyre Therapeutics in a report on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Spyre Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $110.53.

Insiders Place Their Bets

In other Spyre Therapeutics news, CEO Cameron Turtle sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $92.01, for a total transaction of $1,380,150.00. Following the completion of the sale, the chief executive officer directly owned 537,540 shares in the company, valued at $49,459,055.40. The trade was a 2.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Heidy King-Jones sold 28,933 shares of the stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $91.03, for a total transaction of $2,633,770.99. Following the completion of the sale, the insider directly owned 2,845 shares of the company’s stock, valued at $258,980.35. This trade represents a 91.05% 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 138,064 shares of company stock valued at $12,349,518 in the last quarter. 15.69% of the stock is currently owned by company insiders.

About Spyre Therapeutics

Spyre Therapeutics, Inc is a clinical-stage biotechnology company focused on developing next-generation treatments for inflammatory bowel disease (IBD), including Crohn’s disease and ulcerative colitis. The company’s approach is centered on engineered antibody therapies designed to provide durable disease control, convenient dosing and improved treatment characteristics.

Spyre’s investigational pipeline includes antibody programs directed at important inflammatory pathways, including interleukin-23 (IL-23) and TL1A.