Emerald Advisers LLC Raises Stock Holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Emerald Advisers LLC raised its position in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 86.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 546,791 shares of the company's stock after buying an additional 254,222 shares during the quarter. Emerald Advisers LLC owned about 1.06% of Spyre Therapeutics worth $12,729,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Spyre Therapeutics during the fourth quarter worth about $46,000. Arizona State Retirement System boosted its holdings in Spyre Therapeutics by 38.4% in the 4th quarter. Arizona State Retirement System now owns 10,115 shares of the company's stock valued at $235,000 after purchasing an additional 2,805 shares in the last quarter. Rhumbline Advisers increased its position in Spyre Therapeutics by 6.9% during the 4th quarter. Rhumbline Advisers now owns 57,657 shares of the company's stock worth $1,342,000 after purchasing an additional 3,722 shares during the period. Quest Partners LLC raised its stake in shares of 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 buying an additional 4,131 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Spyre Therapeutics by 15.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 43,460 shares of the company's stock valued at $1,278,000 after buying an additional 5,678 shares during the period. Hedge funds and other institutional investors own 80.39% of the company's stock.

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Spyre Therapeutics Trading Up 3.9 %

Shares of SYRE stock traded up $0.67 during mid-day trading on Thursday, reaching $17.69. The stock had a trading volume of 773,282 shares, compared to its average volume of 550,891. The company has a market cap of $1.07 billion, a P/E ratio of -2.37 and a beta of 2.98. Spyre Therapeutics, Inc. has a 12-month low of $16.92 and a 12-month high of $40.84. The business has a 50-day simple moving average of $20.60 and a 200 day simple moving average of $25.67.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share for the quarter, beating the consensus estimate of ($0.89) by $0.08. Research analysts anticipate that Spyre Therapeutics, Inc. will post -4.46 EPS for the current year.

Wall Street Analysts Forecast Growth

SYRE has been the topic of a number of recent analyst reports. Wolfe Research began coverage on Spyre Therapeutics in a report on Tuesday, March 18th. They set an "outperform" rating and a $27.00 price objective on the stock. Wedbush reaffirmed an "outperform" rating and set a $65.00 price target on shares of Spyre Therapeutics in a research note on Monday, January 13th. Finally, The Goldman Sachs Group upgraded shares of Spyre Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 18th. Seven 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 currently has an average rating of "Buy" and an average price target of $50.33.

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).