State of New Jersey Common Pension Fund D Invests $547,000 in Spyre Therapeutics, Inc. $SYRE

State of New Jersey Common Pension Fund D purchased a new stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 16,698 shares of the company’s stock, valued at approximately $547,000.

Other hedge funds have also bought and sold shares of the company. HighVista Strategies LLC boosted its holdings in Spyre Therapeutics by 91.3% in the 3rd quarter. HighVista Strategies LLC now owns 215,746 shares of the company’s stock valued at $3,616,000 after purchasing an additional 102,941 shares during the period. Candriam S.C.A. increased its holdings in shares of Spyre Therapeutics by 64.4% during the third quarter. Candriam S.C.A. now owns 404,362 shares of the company’s stock worth $6,777,000 after purchasing an additional 158,332 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Spyre Therapeutics by 483.7% during the third quarter. JPMorgan Chase & Co. now owns 275,984 shares of the company’s stock worth $4,625,000 after purchasing an additional 228,705 shares during the period. AlphaQuest LLC raised its position in shares of Spyre Therapeutics by 1,485.1% in the third quarter. AlphaQuest LLC now owns 66,163 shares of the company’s stock valued at $1,109,000 after buying an additional 61,989 shares in the last quarter. Finally, Baker BROS. Advisors LP raised its position in shares of Spyre Therapeutics by 59.6% in the third quarter. Baker BROS. Advisors LP now owns 1,000,000 shares of the company’s stock valued at $16,760,000 after buying an additional 373,297 shares in the last quarter. 80.39% of the stock is owned by institutional investors.

Spyre Therapeutics Price Performance

SYRE stock opened at $76.43 on Tuesday. The stock has a market cap of $6.64 billion, a price-to-earnings ratio of -36.75 and a beta of 3.12. The company has a 50 day simple moving average of $54.76 and a 200 day simple moving average of $39.40. Spyre Therapeutics, Inc. has a 1 year low of $13.93 and a 1 year high of $78.80.

Spyre Therapeutics (NASDAQ:SYRE) last issued its earnings results on Tuesday, May 5th. The company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.08). On average, equities research analysts anticipate that Spyre Therapeutics, Inc. will post -2.75 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Sheldon Sloan sold 78,333 shares of the firm’s stock in a transaction dated 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 transaction, the insider directly owned 78,333 shares in the company, valued at $5,600,809.50. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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, Director Michael Thomas Henderson sold 80,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director owned 88,606 shares of the company’s stock, valued at approximately $6,592,286.40. The trade was a 47.45% 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 sold 233,791 shares of company stock valued at $15,757,860 in the last quarter. 15.69% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SYRE. Wedbush increased their price target on Spyre Therapeutics from $65.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. JonesTrading upped their target price on Spyre Therapeutics from $64.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Wells Fargo & Company increased their target price on Spyre Therapeutics from $50.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, April 14th. Wall Street Zen cut Spyre Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Spyre Therapeutics from $55.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Two investment 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 stock. According to MarketBeat, Spyre Therapeutics has a consensus rating of “Buy” and an average price target of $89.08.

Spyre Therapeutics Company 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.