Perceptive Advisors LLC Grows Stock Position in Spyre Therapeutics, Inc. $SYRE

Perceptive Advisors LLC raised its position in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 23.3% during the 1st quarter, Holdings Channel reports. The fund owned 3,783,225 shares of the company’s stock after purchasing an additional 714,000 shares during the period. Spyre Therapeutics makes up approximately 3.7% of Perceptive Advisors LLC’s investment portfolio, making the stock its 7th biggest position. Perceptive Advisors LLC’s holdings in Spyre Therapeutics were worth $190,826,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SYRE. Bank of America Corp DE increased its position in Spyre Therapeutics by 192.6% in the first quarter. Bank of America Corp DE now owns 1,228,093 shares of the company’s stock worth $61,945,000 after purchasing an additional 808,366 shares during the last quarter. Stempoint Capital LP lifted its position in Spyre Therapeutics by 417.7% during the first quarter. Stempoint Capital LP now owns 167,606 shares of the company’s stock valued at $8,454,000 after purchasing an additional 135,229 shares during the last quarter. ADAR1 Capital Management LLC lifted its position in Spyre Therapeutics by 893.6% during the first quarter. ADAR1 Capital Management LLC now owns 338,323 shares of the company’s stock valued at $17,065,000 after purchasing an additional 304,272 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of Spyre Therapeutics by 23.3% in the 1st quarter. California State Teachers Retirement System now owns 59,242 shares of the company’s stock worth $2,988,000 after buying an additional 11,204 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Spyre Therapeutics by 63.5% in the 1st quarter. Royal Bank of Canada now owns 3,250 shares of the company’s stock worth $164,000 after buying an additional 1,262 shares in the last quarter. 80.39% of the stock is currently owned by institutional investors.

Insider Transactions at Spyre Therapeutics

In related news, insider Sheldon Sloan sold 8,334 shares of Spyre Therapeutics stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $87.70, for a total value of $730,891.80. Following the completion of the sale, the insider directly owned 8,334 shares in the company, valued at $730,891.80. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Thomas Henderson sold 80,000 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $74.40, for a total transaction of $5,952,000.00. Following the completion of the sale, the director directly owned 88,606 shares of the company’s stock, valued at approximately $6,592,286.40. This trade represents a 47.45% decrease in their ownership of the stock. 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 sold a total of 176,667 shares of company stock worth $14,177,617 over the last quarter. 15.69% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SYRE has been the topic of a number of research reports. Mizuho boosted their target price on shares of Spyre Therapeutics from $84.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Wolfe Research lowered Spyre Therapeutics from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, July 28th. Wedbush reiterated an “outperform” rating and issued a $100.00 price target on shares of Spyre Therapeutics in a research report on Tuesday, June 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on Spyre Therapeutics from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Finally, JonesTrading raised their price objective on Spyre Therapeutics from $64.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $101.42.

Spyre Therapeutics Stock Performance

Shares of NASDAQ SYRE 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 firm has a market capitalization of $8.65 billion, a price-to-earnings ratio of -47.27 and a beta of 3.02. The stock has a 50 day moving average price of $88.23 and a 200 day moving average price of $62.99.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.08). Analysts forecast that Spyre Therapeutics, Inc. will post -2.86 earnings per share for the current year.

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.