Spyre Therapeutics, Inc. $SYRE Holdings Decreased by Candriam S.C.A.

Candriam S.C.A. lowered its stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 17.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 448,570 shares of the company’s stock after selling 97,742 shares during the quarter. Candriam S.C.A.’s holdings in Spyre Therapeutics were worth $40,082,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of SYRE. Perceptive Advisors LLC raised its position in shares of Spyre Therapeutics by 23.3% during the 1st quarter. Perceptive Advisors LLC now owns 3,783,225 shares of the company’s stock worth $190,826,000 after buying an additional 714,000 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of 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 valued at $61,945,000 after acquiring an additional 808,366 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Spyre Therapeutics in the third quarter valued at approximately $53,349,000. ADAR1 Capital Management LLC increased its stake in shares of 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 acquiring an additional 304,272 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of Spyre Therapeutics during the 2nd quarter valued at $21,768,000. Institutional investors and hedge funds own 80.39% of the company’s stock.

Spyre Therapeutics Stock Performance

NASDAQ SYRE opened at $103.86 on Friday. The stock has a market capitalization of $9.86 billion, a P/E ratio of -37.90 and a beta of 3.24. Spyre Therapeutics, Inc. has a 52 week low of $21.15 and a 52 week high of $110.18. The stock has a fifty day moving average of $89.79 and a 200-day moving average of $74.50.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.12). Equities research analysts forecast that Spyre Therapeutics, Inc. will post -2.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Spyre Therapeutics news, CEO Cameron Turtle sold 15,000 shares of the company’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $92.01, for a total transaction of $1,380,150.00. Following the transaction, the chief executive officer directly owned 537,540 shares in the company, valued at approximately $49,459,055.40. This represents a 2.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Heidy King-Jones sold 28,933 shares of the firm’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $91.03, for a total transaction of $2,633,770.99. Following the completion of the transaction, the insider directly owned 2,845 shares in the company, valued at $258,980.35. This trade represents a 91.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 138,064 shares of company stock valued at $12,349,518. 15.69% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SYRE. Weiss Ratings reiterated a “sell (d-)” rating on shares of Spyre Therapeutics in a research report on Tuesday, September 1st. BTIG Research restated a “buy” rating and set a $121.00 target price on shares of Spyre Therapeutics in a report on Monday, October 19th. Wells Fargo & Company raised their target price on Spyre Therapeutics from $90.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Spyre Therapeutics from $135.00 to $127.00 and set a “buy” rating on the stock in a report on Wednesday, August 26th. Finally, Wall Street Zen lowered Spyre Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $110.53.

About Spyre Therapeutics

Spyre Therapeutics, Inc is a clinical-stage biotechnology company focused on developing next-generation treatments for inflammatory bowel disease (IBD), including Crohn’s disease and ulcerative colitis. The company’s approach is centered on engineered antibody therapies designed to provide durable disease control, convenient dosing and improved treatment characteristics.

Spyre’s investigational pipeline includes antibody programs directed at important inflammatory pathways, including interleukin-23 (IL-23) and TL1A.