Fairmount Funds Sells Shares of Spyre Therapeutics
Fairmount Funds Management LLC sold shares of Spyre Therapeutics worth $399.66 million.
Key Points
- Fairmount Funds Management LLC sold 4,684,781 shares of Spyre Therapeutics, valued at $399.66 million.
- Spyre Therapeutics (NasdaqGS:SYRE) traded near $100.32 on Wednesday, with a market cap of $8.71 billion.
- Analysts from Deutsche Bank and BTIG maintained 'buy' ratings, with price targets of $135 and $112 respectively.
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Fairmount Funds Management LLC sold 4,684,781 shares of Spyre Therapeutics, Inc. (NasdaqGS:SYRE) on June 23, 2026. The transaction was valued at approximately $399.66 million, with an average selling price of $85.31 per share.
What Changed in Fairmount Funds' Spyre Therapeutics Position
Fairmount Funds Management LLC significantly reduced its position in Spyre Therapeutics by selling 4,684,781 shares. The transaction on June 23, 2026, was valued at about $399.66 million.
Other Institutional Activity in Spyre Therapeutics
FMR LLC increased its holdings in Spyre Therapeutics by 142,205 shares, bringing its total to 11,781,024 shares, valued at approximately $594.23 million. BlackRock, Inc. slightly reduced its stake by 880 shares, holding 5,521,221 shares worth $278.49 million. RTW Investments, LP maintained its position with 4,171,996 shares valued at $210.44 million. Perceptive Advisors LLC boosted its holdings by 714,000 shares, ending with 3,783,225 shares valued at $190.83 million.
Spyre Therapeutics, Inc. Stock Up 7.4%
Shares of Spyre Therapeutics traded near $100.32 on Wednesday. The company has a market capitalization of about $8.71 billion and a beta of 3.063, indicating higher volatility compared to the market. The stock’s 52-week range is between $14.00 and $101.70, with a 50-day moving average of $72.73 and a 200-day moving average of $40.89. Spyre Therapeutics has a current ratio of 8.97 and a quick ratio of 8.80.
$SYRE stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
Spyre Therapeutics reported a negative earnings per share (EPS) of -$2.12, with no net margin and a return on equity (ROE) of -31.1%. The company is expected to announce its next earnings results on August 4, 2026.
Insider Buying and Selling at Spyre Therapeutics, Inc.
On June 23, 2026, Fairmount Funds Management LLC sold 4,684,781 shares of Spyre Therapeutics at an average price of $85.31. Additionally, Michael Thomas Henderson sold 20,000 shares on June 22, 2026, at $100.00 per share under a planned transaction. Sheldon Sloan, the Chief Medical Officer, sold 8,333 shares on June 3, 2026, at $75.00 per share under a planned transaction.
Analysts Set New Price Targets
On June 23, 2026, Deutsche Bank maintained a 'buy' rating for Spyre Therapeutics with a price target of $135. BTIG also maintained a 'buy' rating on June 16, 2026, setting a target price of $112. The consensus among 15 analysts is a 'strong buy' with a mean price target of $99.13.
About Spyre Therapeutics
Spyre Therapeutics, Inc. is a biotechnology company based in Waltham, Massachusetts. It focuses on developing treatments for inflammatory bowel disease and rheumatic diseases. The company's lead product, SPY001, is in phase-2 clinical trials for treating ulcerative colitis and Crohn's disease. Spyre also develops other monoclonal antibodies targeting various inflammatory pathways.
Bottom Line
Fairmount Funds Management LLC's recent sell-off of Spyre Therapeutics shares highlights a significant change in its investment strategy. Spyre Therapeutics is actively developing new treatments and remains a company of interest in the biotechnology sector. Investors should note that this information is based on past filings and may not reflect the current position.
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