Spyre Therapeutics, Inc. (NASDAQ:SYRE) Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its stake in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 32.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,092,124 shares of the company's stock after purchasing an additional 266,418 shares during the period. Pictet Asset Management Holding SA owned approximately 2.12% of Spyre Therapeutics worth $25,425,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Spyre Therapeutics during the fourth quarter worth $46,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Spyre Therapeutics in the 4th quarter worth about $182,000. Arizona State Retirement System boosted its position in shares of Spyre Therapeutics by 38.4% in the 4th quarter. Arizona State Retirement System now owns 10,115 shares of the company's stock worth $235,000 after buying an additional 2,805 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in Spyre Therapeutics in the 4th quarter valued at about $242,000. Finally, Intech Investment Management LLC purchased a new position in Spyre Therapeutics during the 3rd quarter valued at about $246,000. 80.39% of the stock is owned by institutional investors and hedge funds.

Spyre Therapeutics Stock Down 8.6 %

Shares of SYRE traded down $1.20 during mid-day trading on Friday, hitting $12.79. The company had a trading volume of 1,641,775 shares, compared to its average volume of 569,517. Spyre Therapeutics, Inc. has a 1-year low of $12.56 and a 1-year high of $40.84. The business's 50-day simple moving average is $19.85 and its 200-day simple moving average is $25.08. The stock has a market cap of $770.69 million, a PE ratio of -1.71 and a beta of 3.05.

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

Analysts Set New Price Targets

Several analysts have recently commented on SYRE shares. Wedbush reiterated an "outperform" rating and issued a $65.00 price target on shares of Spyre Therapeutics in a research report on Monday, January 13th. The Goldman Sachs Group upgraded Spyre Therapeutics to a "strong-buy" rating in a report on Tuesday, February 18th. Finally, Wolfe Research assumed coverage on Spyre Therapeutics in a report on Tuesday, March 18th. They issued an "outperform" rating and a $27.00 price target for the company. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Spyre Therapeutics has a consensus rating of "Buy" and a consensus target price of $50.33.

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).