Adage Capital Partners GP L.L.C. Has $23.98 Million Stock Holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Adage Capital Partners GP L.L.C. cut its holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 2.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,030,000 shares of the company's stock after selling 25,000 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 2.00% of Spyre Therapeutics worth $23,978,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of SYRE. FMR LLC raised its position in shares of Spyre Therapeutics by 15.4% in the fourth quarter. FMR LLC now owns 8,801,266 shares of the company's stock valued at $204,893,000 after buying an additional 1,177,385 shares in the last quarter. Capital World Investors bought a new stake in shares of Spyre Therapeutics during the 4th quarter valued at $8,813,000. Vanguard Group Inc. grew its holdings in shares of Spyre Therapeutics by 13.1% during the 4th quarter. Vanguard Group Inc. now owns 2,846,473 shares of the company's stock worth $66,266,000 after purchasing an additional 330,553 shares in the last quarter. Affinity Asset Advisors LLC grew its holdings in shares of Spyre Therapeutics by 65.4% during the 4th quarter. Affinity Asset Advisors LLC now owns 824,328 shares of the company's stock worth $19,190,000 after purchasing an additional 325,908 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new position in shares of Spyre Therapeutics in the fourth quarter worth $6,241,000. 80.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

SYRE has been the topic of a number of analyst reports. Leerink Partners began coverage on shares of Spyre Therapeutics in a research note on Tuesday, April 8th. They set an "outperform" rating and a $45.00 price objective on the stock. Wolfe Research began coverage on shares of Spyre Therapeutics in a research note on Tuesday, March 18th. They issued an "outperform" rating and a $27.00 price objective on the stock. Wedbush restated an "outperform" rating and set a $65.00 target price on shares of Spyre Therapeutics in a research note on Monday, January 13th. The Goldman Sachs Group upgraded Spyre Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 18th. Finally, Leerink Partnrs raised Spyre Therapeutics to a "strong-buy" rating in a report on Tuesday, April 8th. Eight analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $49.57.

Spyre Therapeutics Price Performance

SYRE stock traded up $0.35 during midday trading on Tuesday, reaching $15.02. 355,834 shares of the stock were exchanged, compared to its average volume of 599,125. Spyre Therapeutics, Inc. has a 52 week low of $10.91 and a 52 week high of $40.49. The company has a fifty day moving average price of $16.42 and a 200 day moving average price of $23.14. The stock has a market capitalization of $905.35 million, a PE ratio of -2.01 and a beta of 3.05.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.81) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $0.08. As a group, analysts anticipate that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current fiscal year.

Spyre Therapeutics 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).