China Universal Asset Management Co. Ltd. Makes New Investment in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

China Universal Asset Management Co. Ltd. acquired a new position in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 12,440 shares of the company's stock, valued at approximately $290,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company purchased a new stake in shares of Spyre Therapeutics in the second quarter worth approximately $888,000. SG Americas Securities LLC lifted its holdings in shares of Spyre Therapeutics by 127.0% during the 3rd quarter. SG Americas Securities LLC now owns 12,589 shares of the company's stock valued at $370,000 after buying an additional 7,044 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Spyre Therapeutics in the 3rd quarter valued at approximately $33,609,000. Emerald Mutual Fund Advisers Trust acquired a new position in Spyre Therapeutics in the third quarter worth approximately $7,457,000. Finally, Emerald Advisers LLC acquired a new position in Spyre Therapeutics in the third quarter worth approximately $8,604,000. 80.39% of the stock is currently owned by hedge funds and other institutional investors.

Spyre Therapeutics Price Performance

Shares of NASDAQ SYRE traded up $0.30 during trading hours on Thursday, hitting $23.86. 477,741 shares of the stock were exchanged, compared to its average volume of 579,589. Spyre Therapeutics, Inc. has a one year low of $20.07 and a one year high of $47.97. The company's 50 day moving average is $23.67 and its 200 day moving average is $27.48. The firm has a market capitalization of $1.23 billion, a P/E ratio of -3.19 and a beta of 2.85.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported ($1.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.80) by ($0.56). Research analysts anticipate that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wedbush reissued an "outperform" rating and issued a $65.00 target price on shares of Spyre Therapeutics in a research report on Monday, January 13th. Guggenheim lifted their price objective on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Finally, Robert W. Baird increased their target price on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, Spyre Therapeutics currently has an average rating of "Buy" and a consensus price target of $54.83.

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).