Handelsbanken Fonder AB Acquires Shares of 26,000 Spyre Therapeutics, Inc. $SYRE

Handelsbanken Fonder AB bought a new stake in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) in the 2nd quarter, Holdings Channel reports. The fund bought 26,000 shares of the company’s stock, valued at approximately $2,308,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Summit Securities Group LLC acquired a new position in shares of Spyre Therapeutics in the first quarter worth about $28,000. GAMMA Investing LLC grew its stake in Spyre Therapeutics by 26.8% during the 2nd quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock valued at $59,000 after purchasing an additional 140 shares in the last quarter. KBC Group NV acquired a new stake in Spyre Therapeutics during the 1st quarter valued at approximately $69,000. Russell Investments Group Ltd. increased its holdings in Spyre Therapeutics by 2,881.7% during the 3rd 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 last quarter. Finally, Persistent Asset Partners Ltd purchased a new stake in Spyre Therapeutics during the 4th quarter worth approximately $74,000. 80.39% of the stock is owned by hedge funds and other institutional investors.

Spyre Therapeutics Price Performance

Shares of SYRE opened at $103.63 on Monday. The stock has a market capitalization of $9.11 billion, a PE ratio of -53.14 and a beta of 3.03. The business’s fifty day moving average price is $94.21 and its 200 day moving average price is $68.13. Spyre Therapeutics, Inc. has a 12-month low of $14.51 and a 12-month high of $108.14.

Spyre Therapeutics (NASDAQ:SYRE) last released its earnings results on Tuesday, August 4th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.40. As a group, research analysts anticipate that Spyre Therapeutics, Inc. will post -2.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on SYRE. Wolfe Research cut Spyre Therapeutics from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, July 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Spyre Therapeutics in a research note on Thursday, June 4th. Stifel Nicolaus lifted their price target on shares of Spyre Therapeutics from $92.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Mizuho upped their price target on shares of Spyre Therapeutics from $84.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Finally, Citigroup increased their price objective on shares of Spyre Therapeutics from $64.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Spyre Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $111.69.

Insiders Place Their Bets

In related news, CFO Scott L. Burrows sold 15,000 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $87.13, for a total transaction of $1,306,950.00. Following the sale, the chief financial officer owned 97,994 shares in the company, valued at $8,538,217.22. This represents a 13.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Thomas Henderson sold 20,000 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $100.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the director directly owned 68,606 shares in the company, valued at $6,860,600. This represents a 22.57% decrease in their position. 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. In the last three months, insiders sold 142,167 shares of company stock worth $12,779,292. Corporate insiders own 15.69% of the company’s stock.

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.