High Net Worth Advisory Group LLC Makes New Investment in Spyre Therapeutics, Inc. $SYRE

High Net Worth Advisory Group LLC purchased a new stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,000 shares of the company’s stock, valued at approximately $303,000.

Other hedge funds have also recently made changes to their positions in the company. Russell Investments Group Ltd. increased its holdings in shares of Spyre Therapeutics by 2,881.7% in the third quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company’s stock worth $71,000 after purchasing an additional 4,092 shares during the period. Persistent Asset Partners Ltd purchased a new stake in shares of Spyre Therapeutics in the fourth quarter worth $74,000. Tower Research Capital LLC TRC boosted its stake in Spyre Therapeutics by 182.2% during the second quarter. Tower Research Capital LLC TRC now owns 5,769 shares of the company’s stock valued at $86,000 after buying an additional 3,725 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Spyre Therapeutics by 61.5% during the fourth 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. Finally, Man Group plc purchased a new position in Spyre Therapeutics during the second quarter worth about $162,000. 80.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SYRE has been the topic of a number of research analyst reports. Citigroup upped their target price on Spyre Therapeutics from $64.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Robert W. Baird lifted their price target on Spyre Therapeutics from $65.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, April 14th. Jefferies Financial Group boosted their price objective on Spyre Therapeutics from $47.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, April 13th. BTIG Research upped their price objective on shares of Spyre Therapeutics from $98.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Finally, Stifel Nicolaus raised their target price on shares of Spyre Therapeutics from $92.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Spyre Therapeutics currently has an average rating of “Buy” and an average price target of $94.17.

Spyre Therapeutics Stock Up 13.6%

SYRE opened at $100.32 on Tuesday. The stock has a market cap of $8.71 billion, a PE ratio of -48.23 and a beta of 3.05. Spyre Therapeutics, Inc. has a 52 week low of $14.00 and a 52 week high of $101.71. The business’s fifty day simple moving average is $74.18 and its 200 day simple moving average is $50.42.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly 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). As a group, equities analysts anticipate that Spyre Therapeutics, Inc. will post -2.86 earnings per share for the current year.

Insider Transactions at Spyre Therapeutics

In related 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 transaction, the insider directly owned 78,333 shares of the company’s stock, valued at approximately $5,600,809.50. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 completion of the sale, the chief financial officer owned 97,994 shares of the company’s stock, valued at $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 a total of 247,124 shares of company stock valued at $17,237,760 over the last 90 days. Company insiders own 15.69% of the company’s stock.

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.