Geode Capital Management LLC Purchases 125,214 Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Geode Capital Management LLC grew its stake in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 16.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 891,048 shares of the company's stock after purchasing an additional 125,214 shares during the period. Geode Capital Management LLC owned approximately 1.73% of Spyre Therapeutics worth $26,211,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SYRE. Amalgamated Bank purchased a new stake in Spyre Therapeutics in the second quarter worth $28,000. Quest Partners LLC bought a new stake in shares of Spyre Therapeutics during the 2nd quarter valued at $36,000. Carlyle Group Inc. purchased a new stake in shares of Spyre Therapeutics in the 2nd quarter worth about $227,000. Intech Investment Management LLC purchased a new stake in shares of Spyre Therapeutics in the 3rd quarter worth about $246,000. Finally, Profund Advisors LLC bought a new position in shares of Spyre Therapeutics in the 2nd quarter worth about $296,000. Hedge funds and other institutional investors own 80.39% of the company's stock.

Spyre Therapeutics Stock Down 1.7 %

Shares of NASDAQ SYRE traded down $0.40 during midday trading on Friday, hitting $23.67. The stock had a trading volume of 315,642 shares, compared to its average volume of 526,356. The business's 50 day moving average is $29.41 and its 200-day moving average is $28.48. Spyre Therapeutics, Inc. has a 52 week low of $18.54 and a 52 week high of $47.97. The company has a market cap of $1.22 billion, a P/E ratio of -3.17 and a beta of 2.82.

Wall Street Analyst Weigh In

SYRE has been the topic of several research reports. Wedbush reissued an "outperform" rating and set a $45.00 price objective on shares of Spyre Therapeutics in a research note on Friday, November 8th. Guggenheim boosted their price target on Spyre Therapeutics from $50.00 to $65.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Finally, Robert W. Baird upped their price target on Spyre Therapeutics from $50.00 to $65.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, Spyre Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $51.50.

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).