292,569 Shares in Spyre Therapeutics, Inc. (NASDAQ:SYRE) Acquired by Emerald Advisers LLC

Emerald Advisers LLC purchased a new stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 292,569 shares of the company's stock, valued at approximately $8,604,000. Emerald Advisers LLC owned about 0.57% of Spyre Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in SYRE. SG Americas Securities LLC acquired a new position in shares of Spyre Therapeutics in the 2nd quarter valued at about $130,000. EFG Asset Management North America Corp. purchased a new stake in Spyre Therapeutics in the 2nd quarter worth approximately $869,000. Bank of New York Mellon Corp acquired a new stake in shares of Spyre Therapeutics during the 2nd quarter worth approximately $2,767,000. Rhumbline Advisers purchased a new position in shares of Spyre Therapeutics during the 2nd quarter valued at approximately $1,220,000. Finally, TD Asset Management Inc acquired a new position in shares of Spyre Therapeutics in the 2nd quarter valued at $827,000. 80.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Evercore ISI assumed coverage on shares of Spyre Therapeutics in a report on Tuesday, July 16th. They issued an "outperform" rating for the company. Wedbush began coverage on Spyre Therapeutics in a research note on Wednesday, September 4th. They issued an "outperform" rating and a $45.00 price target for the company. Finally, Guggenheim increased 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. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $46.43.

Spyre Therapeutics Price Performance

SYRE stock traded up $1.45 during trading on Friday, hitting $33.98. The stock had a trading volume of 387,770 shares, compared to its average volume of 378,803. Spyre Therapeutics, Inc. has a twelve month low of $8.43 and a twelve month high of $47.97. The company's 50-day moving average price is $29.84 and its two-hundred day moving average price is $30.26. The stock has a market capitalization of $1.73 billion, a P/E ratio of -2.20 and a beta of 2.90.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.86) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.90) by $0.04. As a group, sell-side analysts expect that Spyre Therapeutics, Inc. will post -4.18 EPS 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).