Seven Grand Managers LLC Buys Shares of 100,000 Spyre Therapeutics, Inc. $SYRE

Seven Grand Managers LLC bought a new stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 100,000 shares of the company’s stock, valued at approximately $3,276,000. Seven Grand Managers LLC owned approximately 0.13% of Spyre Therapeutics at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SYRE. Russell Investments Group Ltd. grew its position in Spyre Therapeutics by 2,881.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company’s stock valued at $71,000 after acquiring an additional 4,092 shares in the last quarter. Tower Research Capital LLC TRC grew its position in 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 acquiring an additional 3,725 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Spyre Therapeutics by 61.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,770 shares of the company’s stock valued at $124,000 after buying an additional 1,435 shares during the period. Man Group plc purchased a new position in shares of Spyre Therapeutics in the 2nd quarter valued at about $162,000. Finally, Profund Advisors LLC boosted its stake in shares of Spyre Therapeutics by 19.7% in the 3rd quarter. Profund Advisors LLC now owns 13,223 shares of the company’s stock valued at $222,000 after buying an additional 2,180 shares during the period. 80.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on SYRE. Citigroup lifted their price objective on Spyre Therapeutics from $64.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Leerink Partners lifted their price objective on Spyre Therapeutics from $49.00 to $106.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Wells Fargo & Company lifted their price objective on Spyre Therapeutics from $50.00 to $90.00 and gave the company an “overweight” rating in a research note on Tuesday, April 14th. Stifel Nicolaus lifted their price objective on Spyre Therapeutics from $92.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $102.00 price objective on shares of Spyre Therapeutics in a research note on Tuesday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Spyre Therapeutics presently has a consensus rating of “Buy” and an average target price of $90.25.

Insiders Place Their Bets

In related news, insider Sheldon Sloan sold 78,333 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $71.50, for a total transaction of $5,600,809.50. Following the completion of the sale, the insider owned 78,333 shares in the company, valued at $5,600,809.50. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Scott L. Burrows sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $71.37, for a total value of $892,125.00. Following the sale, the chief financial officer owned 97,994 shares of the company’s stock, valued at approximately $6,993,831.78. The trade was a 11.31% 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 233,791 shares of company stock worth $15,757,860 in the last three months. 15.69% of the stock is owned by company insiders.

Spyre Therapeutics Stock Down 1.5%

SYRE stock opened at $72.51 on Thursday. The business has a 50 day moving average price of $62.43 and a 200 day moving average price of $43.61. The stock has a market cap of $6.30 billion, a price-to-earnings ratio of -34.86 and a beta of 3.12. Spyre Therapeutics, Inc. has a fifty-two week low of $13.93 and a fifty-two week high of $78.80.

Spyre Therapeutics (NASDAQ:SYRE) last posted its earnings results on Tuesday, May 5th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.08). As a group, sell-side analysts anticipate that Spyre Therapeutics, Inc. will post -2.79 EPS for the current year.

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.