AlphaCentric Advisors LLC Invests $335,000 in Spyre Therapeutics, Inc. $SYRE

AlphaCentric Advisors LLC bought a new stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 6,634 shares of the company’s stock, valued at approximately $335,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital International Investors grew its position in Spyre Therapeutics by 46.0% in the 4th quarter. Capital International Investors now owns 3,492,541 shares of the company’s stock valued at $114,416,000 after purchasing an additional 1,100,000 shares during the period. JPMorgan Chase & Co. lifted its stake in Spyre Therapeutics by 483.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 275,984 shares of the company’s stock valued at $4,625,000 after acquiring an additional 228,705 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Spyre Therapeutics by 32.3% in the fourth quarter. Vanguard Group Inc. now owns 4,035,074 shares of the company’s stock valued at $132,189,000 after purchasing an additional 984,344 shares during the last quarter. UBS Group AG lifted its position in shares of Spyre Therapeutics by 76.5% during the fourth quarter. UBS Group AG now owns 680,566 shares of the company’s stock valued at $22,295,000 after purchasing an additional 294,977 shares in the last quarter. Finally, PSP Research LLC bought a new stake in Spyre Therapeutics in the 4th quarter worth about $519,000. 80.39% of the stock is owned by institutional investors.

Spyre Therapeutics Stock Performance

Spyre Therapeutics stock opened at $100.23 on Monday. The firm has a 50 day simple moving average of $82.96 and a 200 day simple moving average of $58.37. Spyre Therapeutics, Inc. has a 1-year low of $14.51 and a 1-year high of $105.09. The firm has a market capitalization of $8.81 billion, a price-to-earnings ratio of -48.19 and a beta of 3.02.

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

Insider Buying and Selling

In other Spyre Therapeutics news, CEO Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $70.43, for a total transaction of $1,056,450.00. Following the completion of the transaction, the chief executive officer owned 597,540 shares of the company’s stock, valued at $42,084,742.20. The trade was a 2.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 dated Friday, May 8th. The shares were sold at an average price of $74.40, for a total value of $5,952,000.00. Following the sale, the director owned 88,606 shares in the company, valued at approximately $6,592,286.40. This represents a 47.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 282,500 shares of company stock worth $21,741,101 in the last 90 days. 15.69% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SYRE shares. Mizuho boosted their target price on Spyre Therapeutics from $84.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Raymond James Financial began coverage on Spyre Therapeutics in a research note on Monday, April 13th. They set a “strong-buy” rating and a $80.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Spyre Therapeutics from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Robert W. Baird raised their price target on shares of Spyre Therapeutics from $65.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Spyre Therapeutics in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Spyre Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $101.42.

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.