Barclays PLC Boosts Stock Position in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Barclays PLC grew its position in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 64.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 105,467 shares of the company's stock after buying an additional 41,424 shares during the quarter. Barclays PLC owned 0.21% of Spyre Therapeutics worth $3,101,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Avoro Capital Advisors LLC purchased a new stake in Spyre Therapeutics in the second quarter worth about $43,238,000. Assenagon Asset Management S.A. bought a new stake in shares of Spyre Therapeutics in the 3rd quarter valued at about $33,609,000. Wellington Management Group LLP lifted its position in shares of Spyre Therapeutics by 89.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,507,200 shares of the company's stock worth $44,327,000 after purchasing an additional 711,254 shares during the period. Driehaus Capital Management LLC bought a new position in shares of Spyre Therapeutics during the second quarter valued at approximately $16,153,000. Finally, Farallon Capital Management LLC bought a new position in shares of Spyre Therapeutics during the second quarter valued at approximately $15,658,000. Institutional investors own 80.39% of the company's stock.

Analysts Set New Price Targets

SYRE has been the subject of a number of analyst reports. Wedbush restated an "outperform" rating and set a $45.00 target price on shares of Spyre Therapeutics in a report on Friday, November 8th. Guggenheim upped their price objective on Spyre Therapeutics from $50.00 to $65.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Finally, Robert W. Baird raised their price objective on Spyre Therapeutics from $50.00 to $65.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $51.50.

Spyre Therapeutics Stock Down 1.1 %

Shares of Spyre Therapeutics stock traded down $0.25 during midday trading on Tuesday, hitting $23.34. The company had a trading volume of 231,281 shares, compared to its average volume of 528,179. The company has a fifty day simple moving average of $29.95 and a 200 day simple moving average of $28.64. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -3.12 and a beta of 2.82. Spyre Therapeutics, Inc. has a 12-month low of $17.83 and a 12-month high of $47.97.

About Spyre Therapeutics

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).