JPMorgan Chase & Co. Has $4.63 Million Stake in Spyre Therapeutics, Inc. $SYRE

JPMorgan Chase & Co. raised its position in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 483.7% during the third quarter, HoldingsChannel.com reports. The fund owned 275,984 shares of the company’s stock after buying an additional 228,705 shares during the quarter. JPMorgan Chase & Co.’s holdings in Spyre Therapeutics were worth $4,625,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. raised its position 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 in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Spyre Therapeutics by 182.2% during the 2nd 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 in the last quarter. Man Group plc bought a new stake in shares of Spyre Therapeutics during the 2nd quarter valued at about $162,000. Profund Advisors LLC grew its stake in Spyre Therapeutics by 19.7% during the third quarter. Profund Advisors LLC now owns 13,223 shares of the company’s stock worth $222,000 after purchasing an additional 2,180 shares during the period. Finally, Dark Forest Capital Management LP bought a new stake in Spyre Therapeutics in the third quarter worth approximately $247,000. 80.39% of the stock is currently owned by institutional investors and hedge funds.

Spyre Therapeutics Stock Performance

SYRE stock opened at $47.58 on Friday. The stock’s 50 day simple moving average is $39.69 and its 200 day simple moving average is $30.71. The company has a market cap of $3.74 billion, a P/E ratio of -22.88 and a beta of 2.93. Spyre Therapeutics, Inc. has a fifty-two week low of $10.91 and a fifty-two week high of $51.06.

Spyre Therapeutics (NASDAQ:SYRE) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.04). Equities analysts predict that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current year.

Insiders Place Their Bets

In other Spyre Therapeutics news, CFO Scott L. Burrows sold 2,500 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were 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 in the company, valued at approximately $3,983,456.10. This represents a 2.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Cameron Turtle sold 15,000 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $32.80, for a total transaction of $492,000.00. Following the transaction, the chief executive officer owned 657,540 shares in the company, valued at approximately $21,567,312. The trade was a 2.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 32,500 shares of company stock worth $1,226,475. 15.43% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SYRE shares. Citigroup started coverage on Spyre Therapeutics in a research note on Wednesday, December 17th. They issued a “buy” rating and a $64.00 price target on the stock. Wall Street Zen lowered shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Wells Fargo & Company boosted their target price 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. BTIG Research reissued a “buy” rating and set a $70.00 target price on shares of Spyre Therapeutics in a research note on Tuesday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Spyre Therapeutics in a report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $60.67.

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.