Fmr LLC Buys 1,177,385 Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE)

FMR LLC grew its position in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 15.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 8,801,266 shares of the company's stock after purchasing an additional 1,177,385 shares during the quarter. FMR LLC owned 17.11% of Spyre Therapeutics worth $204,893,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Huntington National Bank acquired a new position in shares of Spyre Therapeutics in the 4th quarter worth $34,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Spyre Therapeutics in the 4th quarter worth about $46,000. KLP Kapitalforvaltning AS acquired a new stake in Spyre Therapeutics during the 4th quarter worth about $182,000. Arizona State Retirement System lifted its stake in Spyre Therapeutics by 38.4% during the fourth quarter. Arizona State Retirement System now owns 10,115 shares of the company's stock valued at $235,000 after buying an additional 2,805 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in shares of Spyre Therapeutics in the fourth quarter worth about $242,000. Institutional investors own 80.39% of the company's stock.

Wall Street Analyst Weigh In

SYRE has been the topic of a number of recent analyst reports. Leerink Partners began coverage on shares of Spyre Therapeutics in a report on Tuesday, April 8th. They set an "outperform" rating and a $45.00 price target on the stock. Leerink Partnrs raised shares of Spyre Therapeutics to a "strong-buy" rating in a research note on Tuesday, April 8th. The Goldman Sachs Group raised Spyre Therapeutics to a "strong-buy" rating in a research report on Tuesday, February 18th. Wolfe Research initiated coverage on Spyre Therapeutics in a research report on Tuesday, March 18th. They set an "outperform" rating and a $27.00 price target on the stock. Finally, Wedbush reissued an "outperform" rating and issued a $65.00 price objective on shares of Spyre Therapeutics in a research note on Monday, January 13th. Eight investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $49.57.

Spyre Therapeutics Trading Up 2.0 %

NASDAQ SYRE traded up $0.25 on Friday, reaching $12.67. The stock had a trading volume of 740,114 shares, compared to its average volume of 590,277. The company has a market capitalization of $763.46 million, a price-to-earnings ratio of -1.70 and a beta of 3.05. The business has a 50 day moving average price of $17.62 and a 200 day moving average price of $23.88. Spyre Therapeutics, Inc. has a 1 year low of $10.91 and a 1 year high of $40.49.

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

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).