Braidwell LP Decreases Stock Holdings in Spyre Therapeutics, Inc. $SYRE

Braidwell LP lessened its holdings in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 5.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 879,467 shares of the company’s stock after selling 53,356 shares during the quarter. Spyre Therapeutics makes up 2.9% of Braidwell LP’s portfolio, making the stock its 7th largest holding. Braidwell LP owned 1.00% of Spyre Therapeutics worth $78,079,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Spyre Therapeutics by 18.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,018 shares of the company’s stock worth $442,000 after purchasing an additional 4,277 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Spyre Therapeutics by 13.8% during the second quarter. JPMorgan Chase & Co. now owns 47,279 shares of the company’s stock valued at $708,000 after purchasing an additional 5,723 shares in the last quarter. Rhumbline Advisers lifted its position in Spyre Therapeutics by 30.6% during the second quarter. Rhumbline Advisers now owns 73,168 shares of the company’s stock valued at $1,095,000 after purchasing an additional 17,145 shares in the last quarter. New York State Common Retirement Fund grew its holdings in Spyre Therapeutics by 61.4% during the second quarter. New York State Common Retirement Fund now owns 16,565 shares of the company’s stock valued at $248,000 after purchasing an additional 6,300 shares during the period. Finally, Invesco Ltd. grew its holdings in Spyre Therapeutics by 37.6% during the second quarter. Invesco Ltd. now owns 34,680 shares of the company’s stock valued at $519,000 after purchasing an additional 9,473 shares during the period. Institutional investors own 80.39% of the company’s stock.

Insider Activity at Spyre Therapeutics

In other Spyre Therapeutics news, CEO Cameron Turtle sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $95.51, for a total transaction of $1,432,650.00. Following the completion of the transaction, the chief executive officer owned 567,540 shares in the company, valued at $54,205,745.40. This trade represents a 2.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sheldon Sloan sold 8,334 shares of Spyre Therapeutics stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $87.70, for a total value of $730,891.80. Following the completion of the sale, the insider directly owned 8,334 shares in the company, valued at approximately $730,891.80. The trade was a 50.00% 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 sold 111,334 shares of company stock valued at $10,564,917 in the last 90 days. 15.69% of the stock is currently owned by insiders.

Spyre Therapeutics Stock Performance

SYRE opened at $87.05 on Thursday. The stock has a market capitalization of $7.66 billion, a price-to-earnings ratio of -44.64 and a beta of 2.99. The company has a fifty day moving average of $98.06 and a 200 day moving average of $74.17. Spyre Therapeutics, Inc. has a fifty-two week low of $14.51 and a fifty-two week high of $110.18.

Spyre Therapeutics (NASDAQ:SYRE) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.40. On average, equities research analysts forecast that Spyre Therapeutics, Inc. will post -2.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SYRE has been the topic of several recent research reports. Citigroup raised their price objective on Spyre Therapeutics from $64.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Guggenheim boosted their price objective on Spyre Therapeutics from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Spyre Therapeutics in a report on Thursday, June 4th. Robert W. Baird set a $120.00 target price on shares of Spyre Therapeutics in a research note on Wednesday, August 5th. Finally, Wall Street Zen downgraded shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, August 16th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $109.69.

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.