Candriam S.C.A. Increases Position in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Candriam S.C.A. grew its holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 135.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 247,591 shares of the company's stock after acquiring an additional 142,591 shares during the period. Candriam S.C.A. owned 0.48% of Spyre Therapeutics worth $5,764,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Quest Partners LLC raised its stake in Spyre Therapeutics by 271.2% during the 3rd quarter. Quest Partners LLC now owns 5,654 shares of the company's stock worth $166,000 after acquiring an additional 4,131 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Spyre Therapeutics in the third quarter worth $246,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Spyre Therapeutics by 239.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 333,275 shares of the company's stock valued at $9,802,000 after buying an additional 235,094 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Spyre Therapeutics by 15.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 43,460 shares of the company's stock worth $1,278,000 after buying an additional 5,678 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Spyre Therapeutics by 1.5% in the third quarter. FMR LLC now owns 7,623,881 shares of the company's stock valued at $224,218,000 after acquiring an additional 115,898 shares in the last quarter. Institutional investors own 80.39% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research analysts recently commented on SYRE shares. Robert W. Baird boosted their price target on Spyre Therapeutics from $50.00 to $65.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Wedbush reiterated an "outperform" rating and issued a $65.00 price target on shares of Spyre Therapeutics in a research note on Monday, January 13th. Finally, The Goldman Sachs Group raised shares of Spyre Therapeutics to a "strong-buy" rating in a report on Tuesday, February 18th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $54.83.

Spyre Therapeutics Stock Performance

Shares of NASDAQ:SYRE traded up $0.32 on Wednesday, reaching $18.88. The company's stock had a trading volume of 476,397 shares, compared to its average volume of 551,066. The company has a 50-day simple moving average of $21.74 and a 200 day simple moving average of $26.46. Spyre Therapeutics, Inc. has a 52-week low of $17.24 and a 52-week high of $47.97. The company has a market cap of $1.14 billion, a P/E ratio of -2.53 and a beta of 2.98.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.81) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.08. On average, equities research analysts forecast that Spyre Therapeutics, Inc. will post -4.46 EPS 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).