Short Interest in Spyre Therapeutics, Inc. (NASDAQ:SYRE) Decreases By 13.5%

Spyre Therapeutics, Inc. (NASDAQ:SYRE) saw a large decline in short interest during the month of January. As of January 15th, there was short interest totaling 10,069,741 shares, a decline of 13.5% from the December 31st total of 11,636,998 shares. Approximately 13.8% of the company’s shares are sold short. Based on an average trading volume of 724,793 shares, the short-interest ratio is currently 13.9 days. Based on an average trading volume of 724,793 shares, the short-interest ratio is currently 13.9 days. Approximately 13.8% of the company’s shares are sold short.

Insider Buying and Selling at Spyre Therapeutics

In other news, CEO Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $30.68, for a total value of $460,200.00. Following the completion of the sale, the chief executive officer owned 671,907 shares of the company’s stock, valued at $20,614,106.76. The trade was a 2.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 15.43% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. State of New Jersey Common Pension Fund D bought a new position in shares of Spyre Therapeutics during the fourth quarter valued at approximately $547,000. UBS Group AG lifted its stake in Spyre Therapeutics by 76.5% in the fourth quarter. UBS Group AG now owns 680,566 shares of the company’s stock valued at $22,295,000 after buying an additional 294,977 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Spyre Therapeutics by 32.3% during the fourth quarter. Vanguard Group Inc. now owns 4,035,074 shares of the company’s stock valued at $132,189,000 after acquiring an additional 984,344 shares during the period. China Universal Asset Management Co. Ltd. grew its position in shares of Spyre Therapeutics by 19.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 12,644 shares of the company’s stock worth $414,000 after acquiring an additional 2,057 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Spyre Therapeutics by 29.0% in the 4th quarter. Arizona State Retirement System now owns 13,797 shares of the company’s stock worth $452,000 after acquiring an additional 3,104 shares during the period. 80.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SYRE has been the subject of several research reports. Wall Street Zen raised shares of Spyre Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Citigroup started coverage on shares of Spyre Therapeutics in a report on Wednesday, December 17th. They issued a “buy” rating and a $64.00 price target on the stock. Mizuho upgraded shares of Spyre Therapeutics to a “strong-buy” rating in a report on Thursday, December 18th. BTIG Research reissued a “buy” rating and issued a $70.00 price objective on shares of Spyre Therapeutics in a research report on Friday, January 16th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Spyre Therapeutics in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Spyre Therapeutics has an average rating of “Buy” and an average price target of $53.88.

Spyre Therapeutics Trading Up 1.4%

SYRE stock traded up $0.45 during trading on Tuesday, reaching $33.20. The stock had a trading volume of 40,416 shares, compared to its average volume of 582,059. Spyre Therapeutics has a 1-year low of $10.91 and a 1-year high of $35.31. The company has a market capitalization of $2.58 billion, a P/E ratio of -15.16 and a beta of 3.17. The firm has a fifty day moving average price of $32.39 and a 200 day moving average price of $23.58.

Spyre Therapeutics (NASDAQ:SYRE) last announced its earnings results on Tuesday, November 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.53. Sell-side analysts predict that Spyre Therapeutics will post -4.46 EPS for the current year.

About Spyre Therapeutics

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.