Spyre Therapeutics, Inc. $SYRE Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its holdings in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 2.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 56,023 shares of the company’s stock after selling 1,634 shares during the period. Rhumbline Advisers owned approximately 0.09% of Spyre Therapeutics worth $904,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. BNP Paribas Financial Markets acquired a new position in shares of Spyre Therapeutics during the fourth quarter valued at $437,000. GAMMA Investing LLC acquired a new position in shares of Spyre Therapeutics during the first quarter valued at $70,000. Deutsche Bank AG increased its holdings in shares of Spyre Therapeutics by 46.1% during the fourth quarter. Deutsche Bank AG now owns 31,418 shares of the company’s stock valued at $731,000 after purchasing an additional 9,910 shares during the period. Millennium Management LLC acquired a new position in shares of Spyre Therapeutics during the fourth quarter valued at $3,906,000. Finally, Nuveen LLC acquired a new position in shares of Spyre Therapeutics during the first quarter valued at $2,261,000. 80.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Scott L. Burrows sold 18,428 shares of Spyre Therapeutics stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $16.26, for a total transaction of $299,639.28. Following the completion of the sale, the chief financial officer directly owned 97,994 shares in the company, valued at $1,593,382.44. The trade was a 15.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 15.43% of the stock is currently owned by corporate insiders.

Spyre Therapeutics Price Performance

Shares of Spyre Therapeutics stock opened at $14.88 on Friday. The firm has a market cap of $898.75 million, a price-to-earnings ratio of -4.38 and a beta of 2.87. Spyre Therapeutics, Inc. has a 52-week low of $10.91 and a 52-week high of $40.26. The stock has a 50-day simple moving average of $16.42 and a 200-day simple moving average of $15.81.

Spyre Therapeutics (NASDAQ:SYRE) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.73) by $0.24. As a group, equities research analysts predict that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SYRE. BTIG Research reaffirmed a “buy” rating and set a $70.00 target price on shares of Spyre Therapeutics in a report on Tuesday, September 16th. Wedbush reaffirmed an “outperform” rating and set a $65.00 target price on shares of Spyre Therapeutics in a report on Wednesday, August 6th. Finally, Wall Street Zen lowered Spyre Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. Two analysts have rated the stock with a Strong Buy rating and six have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $56.17.

About Spyre Therapeutics

Spyre Therapeutics, Inc, a preclinical stage biotechnology company, focuses on developing therapeutics for patients living with inflammatory bowel disease (IBD). It develops SPY001, a human monoclonal immunoglobulin G1 antibody designed to bind selectively to the a4ß7 integrin being developed for the treatment of IBD (ulcerative colitis and Crohn's disease).