Driehaus Capital Management Reduces $8M in Spyre Therapeutics, Inc. ($SYRE)

Driehaus Capital Management recently reduced its stake in Spyre Therapeutics, Inc. (NasdaqGS: SYRE), trimming 91,635 shares, or about 3.18%. The firm now holds 2,790,785 shares valued at approximately $225.47 million, according to its latest Form 13F filing with the SEC for the reporting period ended March 31, 2026.

What Changed in Driehaus Capital Management's Spyre Therapeutics Position

Driehaus Capital Management cut its position in Spyre Therapeutics by 91,635 shares, reducing its holdings by about 3.18%. The firm now owns 2,790,785 shares, down from 2,882,420 shares previously. This adjustment brings the total value of its holding to around $225.47 million.

Other Institutional Activity in Spyre Therapeutics

In other institutional moves, FMR LLC boosted its holdings in Spyre Therapeutics by 142,205 shares, bringing its total to 11,781,024 shares valued at roughly $594.23 million. Meanwhile, BlackRock, Inc. slightly reduced its position by 880 shares, now holding 5,521,221 shares worth about $278.49 million. Perceptive Advisors LLC made a significant addition, increasing its stake by 714,000 shares to a total of 3,783,225 shares, valued at $190.83 million.

Spyre Therapeutics Stock Snapshot

Shares of Spyre Therapeutics traded near $80.79. The company has a market cap of approximately $7.02 billion and a forward P/E ratio of -26.44, indicating it is not yet profitable. With a beta of 3.063, the stock is relatively volatile. It has a 52-week low of $13.93 and a high of $84.43, with a 50-day moving average of $69.87 and a 200-day moving average of $39.51. The company maintains a strong liquidity position with a current ratio of 8.97 and a quick ratio of 8.80.

Recent Earnings

While Spyre Therapeutics is not currently profitable, it continues to develop its pipeline of treatments for inflammatory bowel disease and rheumatic diseases. The company is expected to release its next earnings report on August 4, 2026.

Insider Buying and Selling at Spyre Therapeutics, Inc.

Several insiders at Spyre Therapeutics have been active in the market. On June 3, 2026, Chief Medical Officer Sloan Sheldon sold 8,333 shares at an average price of $75.00 under a pre-planned Rule 10b5-1 trading plan. On the same day, Sheldon also bought 8,333 shares at $27.46. Meanwhile, on June 1, Chief Financial Officer Scott Burrows sold 7,500 shares at $71.06, also under a pre-planned trading plan.

Analysts Set New Price Targets

Analysts remain optimistic about Spyre Therapeutics. On June 4, 2026, Deutsche Bank maintained its 'buy' rating with a price target of $115. Citigroup and Stifel also maintained their 'buy' ratings on May 6, with targets of $97 and $107, respectively. The consensus among 15 analysts is a 'strong buy', with a mean price target of $96.07.

About Spyre Therapeutics

Spyre Therapeutics, Inc. is a biotechnology company based in Waltham, Massachusetts. It focuses on developing therapeutics for inflammatory bowel disease and rheumatic diseases. The company is advancing several clinical-stage programs, including SPY001, a monoclonal antibody for ulcerative colitis and Crohn's disease. Led by CEO Dr. Cameron Turtle, Spyre employs 112 people and operates in the healthcare sector.

Bottom Line

Driehaus Capital Management's recent trimming of its position in Spyre Therapeutics is part of the dynamic landscape of institutional activity. 13F filings like this one provide a backward-looking snapshot of fund strategies, helping investors gauge sentiment and trends in the biotechnology sector.