Spyre Therapeutics, Inc. $SYRE Stock Bought by Profund Advisors LLC

Profund Advisors LLC increased its stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 36.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,406 shares of the company’s stock after purchasing an additional 6,987 shares during the quarter. Profund Advisors LLC’s holdings in Spyre Therapeutics were worth $2,351,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SYRE. GAMMA Investing LLC grew its holdings in Spyre Therapeutics by 26.8% during the second quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock valued at $59,000 after purchasing an additional 140 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Spyre Therapeutics in the second quarter worth about $31,000. Summit Securities Group LLC bought a new position in shares of Spyre Therapeutics in the first quarter worth about $28,000. Nisa Investment Advisors LLC raised its stake in shares of Spyre Therapeutics by 24.3% in the third quarter. Nisa Investment Advisors LLC now owns 2,918 shares of the company’s stock worth $260,000 after buying an additional 571 shares during the period. Finally, IFP Advisors Inc raised its stake in shares of Spyre Therapeutics by 3,241.7% in the third quarter. IFP Advisors Inc now owns 802 shares of the company’s stock worth $71,000 after buying an additional 778 shares during the period. 80.39% of the stock is currently owned by hedge funds and other institutional investors.

Spyre Therapeutics Stock Performance

Shares of NASDAQ SYRE opened at $96.56 on Monday. The company has a market cap of $9.84 billion, a P/E ratio of -49.52 and a beta of 3.24. Spyre Therapeutics, Inc. has a 52-week low of $21.15 and a 52-week high of $110.18. The firm’s fifty day moving average is $90.06 and its two-hundred day moving average is $72.85.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.40. As a group, analysts forecast that Spyre Therapeutics, Inc. will post -2.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wall Street Zen downgraded Spyre Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday. Wedbush restated an “outperform” rating and set a $123.00 target price on shares of Spyre Therapeutics in a research note on Wednesday, September 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Spyre Therapeutics from $135.00 to $127.00 and set a “buy” rating for the company in a research note on Wednesday, August 26th. Mizuho raised their price objective on shares of Spyre Therapeutics from $84.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Finally, UBS Group initiated coverage on shares of Spyre Therapeutics in a research note on Sunday, October 11th. They set a “buy” rating and a $120.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $110.40.

Insider Transactions at Spyre Therapeutics

In other Spyre Therapeutics news, Director Jeffrey W. Albers sold 18,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $104.55, for a total transaction of $1,881,900.00. Following the completion of the transaction, the director owned 9,360 shares in the company, valued at $978,588. This trade represents a 65.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Heidy King-Jones sold 28,933 shares of Spyre Therapeutics stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $91.03, for a total value of $2,633,770.99. Following the completion of the sale, the insider directly owned 2,845 shares in the company, valued at approximately $258,980.35. The trade was a 91.05% 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 a total of 161,064 shares of company stock valued at $14,753,768 over the last three months. Corporate insiders own 15.69% of the company’s stock.

About Spyre Therapeutics

Spyre Therapeutics, Inc is a clinical-stage biotechnology company focused on developing next-generation treatments for inflammatory bowel disease (IBD), including Crohn’s disease and ulcerative colitis. The company’s approach is centered on engineered antibody therapies designed to provide durable disease control, convenient dosing and improved treatment characteristics.

Spyre’s investigational pipeline includes antibody programs directed at important inflammatory pathways, including interleukin-23 (IL-23) and TL1A.