DLD Asset Management LP Acquires New Position in Spyre Therapeutics, Inc. $SYRE

DLD Asset Management LP bought a new position in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 30,000 shares of the company’s stock, valued at approximately $503,000.

Other hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP acquired a new position in shares of Spyre Therapeutics in the third quarter worth $1,411,000. Rafferty Asset Management LLC raised its stake in shares of Spyre Therapeutics by 17.1% in the third quarter. Rafferty Asset Management LLC now owns 59,667 shares of the company’s stock valued at $1,000,000 after acquiring an additional 8,710 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Spyre Therapeutics by 483.7% in the third quarter. JPMorgan Chase & Co. now owns 275,984 shares of the company’s stock valued at $4,625,000 after purchasing an additional 228,705 shares during the period. Profund Advisors LLC boosted its holdings in Spyre Therapeutics by 19.7% in the third quarter. Profund Advisors LLC now owns 13,223 shares of the company’s stock valued at $222,000 after purchasing an additional 2,180 shares during the period. Finally, Candriam S.C.A. grew its stake in Spyre Therapeutics by 64.4% during the 3rd quarter. Candriam S.C.A. now owns 404,362 shares of the company’s stock worth $6,777,000 after purchasing an additional 158,332 shares in the last quarter. 80.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Scott L. Burrows sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $40.65, for a total value of $101,625.00. Following the completion of the transaction, the chief financial officer directly owned 97,994 shares of the company’s stock, valued at $3,983,456.10. This represents a 2.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Cameron Turtle sold 15,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $32.80, for a total transaction of $492,000.00. Following the completion of the transaction, the chief executive officer owned 657,540 shares in the company, valued at $21,567,312. This represents a 2.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 47,500 shares of company stock valued at $1,686,675 over the last ninety days. 15.43% of the stock is currently owned by corporate insiders.

Spyre Therapeutics Price Performance

Shares of NASDAQ SYRE opened at $40.15 on Monday. The business has a 50-day moving average of $35.18 and a two-hundred day moving average of $27.25. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of -19.30 and a beta of 3.09. Spyre Therapeutics, Inc. has a 1 year low of $10.91 and a 1 year high of $45.76.

Spyre Therapeutics (NASDAQ:SYRE) last released 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). As a group, equities research analysts expect that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.