Geode Capital Management LLC Has $22.50 Million Stock Position in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Geode Capital Management LLC boosted its holdings in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 8.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 966,129 shares of the company's stock after acquiring an additional 75,081 shares during the quarter. Geode Capital Management LLC owned 1.88% of Spyre Therapeutics worth $22,498,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Spyre Therapeutics during the fourth quarter worth $46,000. Arizona State Retirement System raised its stake in shares of Spyre Therapeutics by 38.4% during the 4th quarter. Arizona State Retirement System now owns 10,115 shares of the company's stock worth $235,000 after purchasing an additional 2,805 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Spyre Therapeutics by 6.9% in the 4th quarter. Rhumbline Advisers now owns 57,657 shares of the company's stock valued at $1,342,000 after buying an additional 3,722 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Spyre Therapeutics by 19.6% in the fourth quarter. JPMorgan Chase & Co. now owns 35,248 shares of the company's stock worth $821,000 after buying an additional 5,775 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in Spyre Therapeutics during the fourth quarter valued at approximately $182,000. Hedge funds and other institutional investors own 80.39% of the company's stock.

Spyre Therapeutics Stock Up 1.8 %

Shares of SYRE stock traded up $0.26 during trading hours on Thursday, reaching $14.48. 69,931 shares of the company's stock were exchanged, compared to its average volume of 592,906. Spyre Therapeutics, Inc. has a fifty-two week low of $10.91 and a fifty-two week high of $40.49. The stock has a market capitalization of $872.80 million, a P/E ratio of -1.94 and a beta of 3.05. The business has a fifty day moving average price of $16.89 and a 200-day moving average price of $23.48.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share for the quarter, beating analysts' consensus estimates 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.

Wall Street Analyst Weigh In

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

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).