Seven Fleet Capital Management LP Acquires New Position in Spyre Therapeutics, Inc. $SYRE

Seven Fleet Capital Management LP bought a new position in Spyre Therapeutics, Inc. (NASDAQ:SYRE) in the first quarter, Holdings Channel reports. The institutional investor bought 19,690 shares of the company’s stock, valued at approximately $993,000.

Several other hedge funds and other institutional investors have also bought and sold shares of SYRE. Summit Securities Group LLC bought a new position in Spyre Therapeutics during the first quarter valued at approximately $28,000. KBC Group NV purchased a new position in shares of Spyre Therapeutics during the first quarter worth approximately $69,000. Russell Investments Group Ltd. lifted its holdings in shares of Spyre Therapeutics by 2,881.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company’s stock worth $71,000 after acquiring an additional 4,092 shares during the last quarter. Persistent Asset Partners Ltd bought a new stake in shares of Spyre Therapeutics in the 4th quarter worth approximately $74,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Spyre Therapeutics by 182.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,769 shares of the company’s stock valued at $86,000 after purchasing an additional 3,725 shares in the last quarter. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Wall Street Analyst Weigh In

SYRE has been the topic of several recent research reports. Wedbush reaffirmed an “outperform” rating and set a $100.00 target price on shares of Spyre Therapeutics in a report on Tuesday, June 16th. 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 note on Tuesday, April 14th. Jefferies Financial Group upped their price target on shares of Spyre Therapeutics from $47.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, April 13th. BTIG Research raised their price objective on Spyre Therapeutics from $98.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Finally, Citigroup lifted their price objective on Spyre Therapeutics from $64.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $101.42.

Spyre Therapeutics Stock Performance

Shares of Spyre Therapeutics stock opened at $98.33 on Friday. Spyre Therapeutics, Inc. has a 52-week low of $14.51 and a 52-week high of $105.09. The stock has a market capitalization of $8.65 billion, a price-to-earnings ratio of -47.27 and a beta of 3.02. The company’s 50 day moving average price is $88.23 and its 200-day moving average price is $62.99.

Spyre Therapeutics (NASDAQ:SYRE) last issued its 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, equities research analysts forecast that Spyre Therapeutics, Inc. will post -2.86 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Sheldon Sloan sold 8,334 shares of the company’s 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. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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 sale, the chief executive officer owned 582,540 shares of the company’s stock, valued at approximately $51,082,932.60. This represents a 2.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 176,667 shares of company stock worth $14,177,617 in the last quarter. Insiders own 15.69% of the company’s stock.

About Spyre Therapeutics

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.