Assenagon Asset Management S.A. Cuts Stock Position in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Assenagon Asset Management S.A. decreased its position in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 98.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,652 shares of the company's stock after selling 1,120,116 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Spyre Therapeutics were worth $527,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in Spyre Therapeutics by 89.4% during the third quarter. Wellington Management Group LLP now owns 1,507,200 shares of the company's stock worth $44,327,000 after buying an additional 711,254 shares during the period. Driehaus Capital Management LLC purchased a new stake in shares of Spyre Therapeutics during the 2nd quarter worth $16,153,000. Perceptive Advisors LLC boosted its position in Spyre Therapeutics by 18.6% during the second quarter. Perceptive Advisors LLC now owns 3,031,018 shares of the company's stock valued at $71,259,000 after purchasing an additional 474,339 shares in the last quarter. Janus Henderson Group PLC grew its stake in Spyre Therapeutics by 66.3% in the third quarter. Janus Henderson Group PLC now owns 1,120,531 shares of the company's stock valued at $32,921,000 after purchasing an additional 446,664 shares during the last quarter. Finally, Ikarian Capital LLC bought a new position in Spyre Therapeutics in the third quarter worth about $8,889,000. Institutional investors own 80.39% of the company's stock.

Analyst Ratings Changes

SYRE has been the topic of a number of recent analyst reports. Robert W. Baird raised their price target on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Guggenheim lifted their price target on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Finally, Wedbush reiterated an "outperform" rating and set a $65.00 price objective on shares of Spyre Therapeutics in a report on Monday, January 13th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Spyre Therapeutics currently has an average rating of "Buy" and a consensus price target of $54.83.

Spyre Therapeutics Price Performance

Shares of SYRE traded down $0.21 during trading hours on Friday, reaching $21.60. 437,241 shares of the company traded hands, compared to its average volume of 462,815. The business has a fifty day moving average price of $24.57 and a 200-day moving average price of $27.90. Spyre Therapeutics, Inc. has a 12-month low of $20.07 and a 12-month high of $47.97.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($1.36) earnings per share for the quarter, missing analysts' consensus estimates of ($0.80) by ($0.56). On average, equities research analysts predict that Spyre Therapeutics, Inc. will post -4.46 EPS for the current 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).