13,724 Shares in Spyre Therapeutics, Inc. $SYRE Acquired by Arrowpoint Investment Partners Singapore Pte. Ltd.

Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new position in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,724 shares of the company’s stock, valued at approximately $450,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Russell Investments Group Ltd. grew its holdings 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 purchasing an additional 4,092 shares during the period. Tower Research Capital LLC TRC grew its holdings in Spyre Therapeutics by 182.2% during the second quarter. Tower Research Capital LLC TRC now owns 5,769 shares of the company’s stock valued at $86,000 after purchasing an additional 3,725 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Spyre Therapeutics by 61.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,770 shares of the company’s stock valued at $124,000 after purchasing an additional 1,435 shares during the period. Man Group plc acquired a new position in Spyre Therapeutics during the second quarter valued at approximately $162,000. Finally, Profund Advisors LLC grew its holdings in Spyre Therapeutics by 19.7% during the third quarter. Profund Advisors LLC now owns 13,223 shares of the company’s stock valued at $222,000 after purchasing an additional 2,180 shares during the period. 80.39% of the stock is owned by institutional investors.

Spyre Therapeutics Stock Up 6.7%

Shares of NASDAQ:SYRE opened at $78.48 on Friday. The firm has a market cap of $6.82 billion, a price-to-earnings ratio of -37.73 and a beta of 3.05. Spyre Therapeutics, Inc. has a 12 month low of $13.93 and a 12 month high of $79.54. The company’s fifty day simple moving average is $66.06 and its 200 day simple moving average is $45.72.

Spyre Therapeutics (NASDAQ:SYRE) last announced its earnings results on Tuesday, May 5th. The company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.08). Research analysts expect that Spyre Therapeutics, Inc. will post -2.79 earnings per share for the current fiscal year.

Insider Activity at Spyre Therapeutics

In related news, insider Sheldon Sloan sold 78,333 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $71.50, for a total value of $5,600,809.50. Following the completion of the transaction, the insider directly owned 78,333 shares of the company’s stock, valued at approximately $5,600,809.50. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Thomas Henderson sold 80,000 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $74.40, for a total transaction of $5,952,000.00. Following the completion of the transaction, the director directly owned 88,606 shares of the company’s stock, valued at approximately $6,592,286.40. The trade was a 47.45% decrease in their ownership of the stock. 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 a total of 247,124 shares of company stock valued at $17,237,760 in the last quarter. 15.69% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SYRE. Wedbush upped their price objective on shares of Spyre Therapeutics from $65.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Leerink Partners upped their price objective on shares of Spyre Therapeutics from $49.00 to $106.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Jefferies Financial Group upped their price objective on shares of Spyre Therapeutics from $47.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Stifel Nicolaus upped their price objective on shares of Spyre Therapeutics from $92.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Citigroup upped their price objective on shares of Spyre Therapeutics from $64.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Spyre Therapeutics has an average rating of “Buy” and a consensus target price of $91.33.

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.