Assenagon Asset Management S.A. Acquires New Holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Assenagon Asset Management S.A. acquired a new stake in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,142,768 shares of the company's stock, valued at approximately $33,609,000. Assenagon Asset Management S.A. owned approximately 2.84% of Spyre Therapeutics at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in SYRE. Avoro Capital Advisors LLC bought a new position in shares of Spyre Therapeutics during the 2nd quarter valued at about $43,238,000. Driehaus Capital Management LLC bought a new position in shares of Spyre Therapeutics during the 2nd quarter valued at about $16,153,000. Farallon Capital Management LLC bought a new position in shares of Spyre Therapeutics during the 2nd quarter valued at about $15,658,000. Logos Global Management LP acquired a new position in shares of Spyre Therapeutics in the second quarter worth about $13,518,000. Finally, Affinity Asset Advisors LLC acquired a new position in shares of Spyre Therapeutics in the second quarter worth about $12,071,000. Institutional investors own 80.39% of the company's stock.

Wall Street Analyst Weigh In

SYRE has been the subject of several recent analyst reports. Wedbush initiated coverage on shares of Spyre Therapeutics in a report on Wednesday, September 4th. They issued an "outperform" rating and a $45.00 target price for the company. Evercore ISI initiated coverage on shares of Spyre Therapeutics in a report on Tuesday, July 16th. They issued an "outperform" rating for the company. Finally, Guggenheim raised their target price on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the stock a "buy" rating in a report on Friday. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, Spyre Therapeutics currently has an average rating of "Buy" and an average price target of $46.43.

Spyre Therapeutics Stock Performance

Shares of SYRE stock traded up $1.11 during trading on Friday, hitting $34.81. 536,987 shares of the company were exchanged, compared to its average volume of 513,232. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -0.49 and a beta of 2.92. The business's 50-day simple moving average is $28.91 and its 200 day simple moving average is $30.48. Spyre Therapeutics, Inc. has a twelve month low of $8.43 and a twelve month high of $47.97.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.86) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.04. On average, equities analysts forecast that Spyre Therapeutics, Inc. will post -3.68 earnings per share for the current fiscal year.

Spyre Therapeutics Company 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).