Emerald Mutual Fund Advisers Trust Lowers Stock Position in Spyre Therapeutics, Inc. $SYRE

Emerald Mutual Fund Advisers Trust lessened its holdings in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 6.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 308,212 shares of the company’s stock after selling 21,218 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Spyre Therapeutics were worth $5,166,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SYRE. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in Spyre Therapeutics by 1.1% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 110,456 shares of the company’s stock worth $1,851,000 after acquiring an additional 1,172 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Spyre Therapeutics during the third quarter valued at approximately $310,000. Tower Research Capital LLC TRC boosted its position in shares of Spyre Therapeutics by 182.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,769 shares of the company’s stock worth $86,000 after purchasing an additional 3,725 shares in the last quarter. Man Group plc purchased a new stake in shares of Spyre Therapeutics in the 2nd quarter worth approximately $162,000. Finally, BNP Paribas Financial Markets increased its position in Spyre Therapeutics by 300.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 223,320 shares of the company’s stock valued at $3,343,000 after buying an additional 167,487 shares in the last quarter. 80.39% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Cameron Turtle sold 15,000 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $30.68, for a total transaction of $460,200.00. Following the transaction, the chief executive officer directly owned 671,907 shares of the company’s stock, valued at $20,614,106.76. This represents a 2.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders have sold 75,000 shares of company stock worth $1,945,350. 15.43% of the stock is currently owned by insiders.

Spyre Therapeutics Stock Performance

Shares of NASDAQ:SYRE opened at $34.09 on Friday. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of -15.57 and a beta of 3.17. The business has a 50-day simple moving average of $31.23 and a two-hundred day simple moving average of $22.66. Spyre Therapeutics, Inc. has a fifty-two week low of $10.91 and a fifty-two week high of $35.31.

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Citigroup assumed coverage on Spyre Therapeutics in a report on Wednesday, December 17th. They issued a “buy” rating and a $64.00 target price on the stock. Wall Street Zen upgraded shares of Spyre Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Spyre Therapeutics in a research report on Monday, December 29th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Spyre Therapeutics in a report on Friday, September 26th. They issued a “buy” rating and a $43.00 target price for the company. Finally, BTIG Research reiterated a “buy” rating and set a $70.00 price target on shares of Spyre Therapeutics in a report on Friday, January 16th. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $53.88.

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.