Spyre Therapeutics, Inc. $SYRE Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. lifted its position in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 4.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 795,275 shares of the company’s stock after buying an additional 34,647 shares during the period. Franklin Resources Inc. owned 1.32% of Spyre Therapeutics worth $11,905,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. XTX Topco Ltd acquired a new position in Spyre Therapeutics in the 1st quarter valued at $460,000. Vanguard Group Inc. grew its position in shares of Spyre Therapeutics by 1.8% in the first quarter. Vanguard Group Inc. now owns 2,898,267 shares of the company’s stock valued at $46,764,000 after purchasing an additional 51,794 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Spyre Therapeutics by 0.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 382,636 shares of the company’s stock valued at $6,174,000 after purchasing an additional 2,986 shares during the last quarter. Invesco Ltd. lifted its position in Spyre Therapeutics by 28.2% during the first quarter. Invesco Ltd. now owns 25,207 shares of the company’s stock worth $407,000 after buying an additional 5,544 shares during the period. Finally, Nuveen LLC acquired a new stake in Spyre Therapeutics in the 1st quarter worth about $2,261,000. 80.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on SYRE shares. Wall Street Zen raised shares of Spyre Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Spyre Therapeutics in a research report on Tuesday. BTIG Research reaffirmed a “buy” rating and set a $70.00 price target on shares of Spyre Therapeutics in a research report on Tuesday, September 16th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Spyre Therapeutics in a research note on Friday, September 26th. They set a “buy” rating and a $43.00 price target on the stock. Finally, Wedbush reiterated an “outperform” rating and issued a $65.00 price target on shares of Spyre Therapeutics in a report on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $50.00.

Insider Transactions at Spyre Therapeutics

In related news, CFO Scott L. Burrows sold 18,428 shares of the firm’s 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 sale, the chief financial officer directly owned 97,994 shares in the company, valued at approximately $1,593,382.44. This trade represents a 15.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Cameron Turtle sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $23.33, for a total value of $1,049,850.00. Following the transaction, the chief executive officer directly owned 701,907 shares in the company, valued at $16,375,490.31. This trade represents a 6.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 15.43% of the company’s stock.

Spyre Therapeutics Stock Up 1.0%

SYRE opened at $30.05 on Friday. Spyre Therapeutics, Inc. has a 52-week low of $10.91 and a 52-week high of $30.21. The company has a 50 day moving average of $21.83 and a two-hundred day moving average of $18.11. The company has a market cap of $2.33 billion, a P/E ratio of -8.84 and a beta of 2.99.

Spyre Therapeutics (NASDAQ:SYRE) last posted its earnings results on Tuesday, November 4th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.53. Research analysts anticipate that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current year.

Spyre Therapeutics Company Profile

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).