SG Americas Securities LLC Sells 9,947 Shares of Spyre Therapeutics, Inc. $SYRE

SG Americas Securities LLC cut its stake in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 42.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,396 shares of the company’s stock after selling 9,947 shares during the quarter. SG Americas Securities LLC’s holdings in Spyre Therapeutics were worth $676,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SYRE. Persistent Asset Partners Ltd acquired a new stake in shares of Spyre Therapeutics in the 4th quarter valued at about $74,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of 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 worth $124,000 after acquiring an additional 1,435 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Spyre Therapeutics by 2,881.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company’s stock worth $71,000 after acquiring an additional 4,092 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Spyre Therapeutics by 182.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,769 shares of the company’s stock valued at $86,000 after acquiring an additional 3,725 shares in the last quarter. Finally, Martingale Asset Management L P bought a new position in Spyre Therapeutics in the 4th quarter valued at about $227,000. 80.39% of the stock is owned by institutional investors.

Insider Buying and Selling at Spyre Therapeutics

In related news, insider Sheldon Sloan sold 78,333 shares of Spyre Therapeutics stock in a transaction that occurred 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 in the company, valued at approximately $5,600,809.50. The trade was a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cameron Turtle sold 15,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $70.43, for a total value of $1,056,450.00. Following the sale, the chief executive officer owned 597,540 shares in the company, valued at approximately $42,084,742.20. This represents a 2.45% 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 282,500 shares of company stock worth $21,741,101 over the last three months. Company insiders own 15.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on SYRE. Raymond James Financial began coverage on Spyre Therapeutics in a report on Monday, April 13th. They set a “strong-buy” rating and a $80.00 price objective for the company. Jefferies Financial Group lifted their target price on Spyre Therapeutics from $47.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Spyre Therapeutics in a report on Thursday, June 4th. Stifel Nicolaus increased their price target on Spyre Therapeutics from $92.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Leerink Partners raised their price objective on Spyre Therapeutics from $49.00 to $106.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $95.83.

Spyre Therapeutics Stock Performance

NASDAQ SYRE traded down $1.17 on Tuesday, hitting $87.57. 35,364 shares of the stock traded hands, compared to its average volume of 1,084,039. The business’s fifty day moving average is $78.43 and its two-hundred day moving average is $54.32. Spyre Therapeutics, Inc. has a 12 month low of $14.51 and a 12 month high of $102.06. The firm has a market capitalization of $7.70 billion, a price-to-earnings ratio of -41.85 and a beta of 3.02.

Spyre Therapeutics (NASDAQ:SYRE) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.08). Analysts expect that Spyre Therapeutics, Inc. will post -2.86 EPS for the current fiscal year.

About Spyre Therapeutics

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.