HighVista Strategies LLC Grows Stock Holdings in Spyre Therapeutics, Inc. $SYRE

HighVista Strategies LLC grew its stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 91.3% in the third quarter, Holdings Channel.com reports. The firm owned 215,746 shares of the company’s stock after acquiring an additional 102,941 shares during the quarter. HighVista Strategies LLC’s holdings in Spyre Therapeutics were worth $3,616,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Russell Investments Group Ltd. lifted its position 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 worth $71,000 after buying an additional 4,092 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in Spyre Therapeutics by 25.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,091 shares of the company’s stock valued at $76,000 after buying an additional 1,045 shares in the last quarter. Tower Research Capital LLC TRC increased its stake 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 acquiring an additional 3,725 shares during the last quarter. Man Group plc purchased a new position in shares of Spyre Therapeutics during the 2nd quarter worth $162,000. Finally, Police & Firemen s Retirement System of New Jersey boosted its position in shares of Spyre Therapeutics by 31.5% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 11,525 shares of the company’s stock valued at $173,000 after acquiring an additional 2,758 shares during the last quarter. Institutional investors and hedge funds own 80.39% of the company’s stock.

Insider Buying and Selling

In other Spyre Therapeutics news, CFO Scott L. Burrows sold 2,500 shares of Spyre Therapeutics stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $40.65, for a total transaction of $101,625.00. Following the transaction, the chief financial officer owned 97,994 shares of the company’s stock, valued at $3,983,456.10. The trade was a 2.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Cameron Turtle sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $32.80, for a total value of $492,000.00. Following the completion of the sale, the chief executive officer owned 657,540 shares of the company’s stock, valued at approximately $21,567,312. This represents a 2.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 47,500 shares of company stock worth $1,686,675 in the last 90 days. 6.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SYRE has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Spyre Therapeutics in a research report on Monday, December 29th. Citigroup began coverage on shares of Spyre Therapeutics in a research note on Wednesday, December 17th. They set a “buy” rating and a $64.00 target price for the company. Wells Fargo & Company lifted their price target on shares of Spyre Therapeutics from $40.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, February 20th. Leerink Partners upgraded shares of Spyre Therapeutics to a “strong-buy” rating in a report on Thursday, February 19th. Finally, BTIG Research reaffirmed a “buy” rating and set a $70.00 price objective on shares of Spyre Therapeutics in a research report on Friday, February 20th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $53.44.

Spyre Therapeutics Stock Down 1.3%

Shares of SYRE opened at $39.89 on Monday. The stock has a 50 day moving average price of $36.06 and a 200 day moving average price of $28.09. Spyre Therapeutics, Inc. has a 52-week low of $10.91 and a 52-week high of $45.76. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of -19.18 and a beta of 3.08.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.04). On average, equities analysts anticipate that Spyre Therapeutics, Inc. will post -4.46 EPS for the current fiscal year.

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.