Capital World Investors Invests $8.81 Million in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Capital World Investors purchased a new position in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 378,573 shares of the company's stock, valued at approximately $8,813,000. Capital World Investors owned approximately 0.74% of Spyre Therapeutics at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Barclays PLC raised its holdings in Spyre Therapeutics by 64.7% in the third quarter. Barclays PLC now owns 105,467 shares of the company's stock worth $3,101,000 after buying an additional 41,424 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new stake in shares of Spyre Therapeutics during the fourth quarter valued at approximately $290,000. Victory Capital Management Inc. purchased a new position in Spyre Therapeutics in the 4th quarter worth approximately $6,241,000. Jane Street Group LLC lifted its position in Spyre Therapeutics by 78.7% in the 3rd quarter. Jane Street Group LLC now owns 20,641 shares of the company's stock valued at $607,000 after acquiring an additional 9,090 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Spyre Therapeutics by 16.4% during the 3rd quarter. Geode Capital Management LLC now owns 891,048 shares of the company's stock valued at $26,211,000 after purchasing an additional 125,214 shares during the last quarter. Institutional investors own 80.39% of the company's stock.

Spyre Therapeutics Trading Up 5.0 %

SYRE stock traded up $0.71 during midday trading on Thursday, reaching $14.93. 1,004,309 shares of the company's stock traded hands, compared to its average volume of 598,181. The stock's 50-day moving average is $16.73 and its 200 day moving average is $23.39. The stock has a market cap of $899.92 million, a P/E ratio of -2.00 and a beta of 3.05. Spyre Therapeutics, Inc. has a 52-week low of $10.91 and a 52-week high of $40.49.

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. The Goldman Sachs Group raised Spyre Therapeutics to a "strong-buy" rating in a report on Tuesday, February 18th. Wolfe Research initiated coverage on shares of Spyre Therapeutics in a research note on Tuesday, March 18th. They set an "outperform" rating and a $27.00 target price on the stock. Leerink Partners started coverage on shares of Spyre Therapeutics in a research note on Tuesday, April 8th. They issued an "outperform" rating and a $45.00 price target for the company. Leerink Partnrs upgraded shares of Spyre Therapeutics to a "strong-buy" rating in a research report on Tuesday, April 8th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $65.00 target price on shares of Spyre Therapeutics in a research report on Monday, January 13th. Eight equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $49.57.

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).