6,000 Shares in Spyre Therapeutics, Inc. $SYRE Bought by High Net Worth Advisory Group LLC

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

Several other institutional investors have also added to or reduced their stakes in the business. Russell Investments Group Ltd. boosted its position in Spyre Therapeutics by 2,881.7% during the third quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company’s stock valued at $71,000 after buying an additional 4,092 shares during the period. Persistent Asset Partners Ltd purchased a new position in shares of Spyre Therapeutics in the fourth quarter worth about $74,000. Tower Research Capital LLC TRC increased its holdings in shares of Spyre Therapeutics by 182.2% in the second quarter. Tower Research Capital LLC TRC now owns 5,769 shares of the company’s stock worth $86,000 after buying an additional 3,725 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Spyre Therapeutics by 61.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,770 shares of the company’s stock valued at $124,000 after acquiring an additional 1,435 shares during the last quarter. Finally, Man Group plc bought a new stake in shares of Spyre Therapeutics in the 2nd quarter valued at about $162,000. 80.39% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Sheldon Sloan sold 8,333 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $75.00, for a total transaction of $624,975.00. Following the completion of the transaction, the insider owned 8,333 shares in the company, valued at $624,975. This 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 this hyperlink. 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 on Friday, May 8th. The stock was sold at an average price of $74.40, for a total value of $5,952,000.00. Following the completion of the sale, the director directly owned 88,606 shares of the company’s stock, valued at $6,592,286.40. The trade was a 47.45% 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. Insiders have sold a total of 247,124 shares of company stock valued at $17,237,760 in the last 90 days. 15.69% of the stock is owned by corporate insiders.

Spyre Therapeutics Trading Up 13.6%

Shares of NASDAQ:SYRE opened at $100.32 on Tuesday. The company has a market cap of $8.71 billion, a price-to-earnings ratio of -48.23 and a beta of 3.05. Spyre Therapeutics, Inc. has a 12 month low of $14.00 and a 12 month high of $101.71. The company has a 50-day moving average price of $74.18 and a 200-day moving average price of $50.42.

Spyre Therapeutics (NASDAQ:SYRE) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.08). As a group, research analysts forecast that Spyre Therapeutics, Inc. will post -2.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SYRE has been the subject of several analyst reports. Robert W. Baird increased their target price on Spyre Therapeutics from $65.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, April 14th. Leerink Partners boosted their price objective on Spyre Therapeutics from $49.00 to $106.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Citigroup boosted their price objective on Spyre Therapeutics from $64.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Wall Street Zen lowered Spyre Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Finally, Wedbush restated an “outperform” rating and issued a $100.00 target price on shares of Spyre Therapeutics in a report on Tuesday, June 16th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $94.17.

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.