Pictet Asset Management Holding SA Purchases 266,418 Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Pictet Asset Management Holding SA increased its holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 32.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund 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 quarter.

A number of other hedge funds also recently bought and sold shares of SYRE. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Spyre Therapeutics in the 4th quarter valued at approximately $46,000. Arizona State Retirement System lifted its position in Spyre Therapeutics by 38.4% in the fourth 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 during the last quarter. Rhumbline Advisers boosted its stake in Spyre Therapeutics by 6.9% during the fourth quarter. Rhumbline Advisers now owns 57,657 shares of the company's stock worth $1,342,000 after buying an additional 3,722 shares during the period. The Manufacturers Life Insurance Company increased its position in Spyre Therapeutics by 15.0% during the third quarter. The Manufacturers Life Insurance Company now owns 43,460 shares of the company's stock valued at $1,278,000 after acquiring an additional 5,678 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Spyre Therapeutics by 19.6% in the fourth quarter. JPMorgan Chase & Co. now owns 35,248 shares of the company's stock valued at $821,000 after acquiring an additional 5,775 shares during the period. Hedge funds and other institutional investors own 80.39% of the company's stock.

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Wall Street Analyst Weigh In

A number of research firms recently commented on SYRE. Wolfe Research assumed coverage on shares of Spyre Therapeutics in a research note on Tuesday, March 18th. They set an "outperform" rating and a $27.00 price target for the company. Wedbush reaffirmed an "outperform" rating and set a $65.00 target price on shares of Spyre Therapeutics in a research note on Monday, January 13th. Finally, The Goldman Sachs Group raised Spyre Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 18th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Spyre Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $50.33.

Spyre Therapeutics Stock Performance

Spyre Therapeutics stock traded down $1.50 during midday trading on Thursday, hitting $13.99. 973,063 shares of the company's stock were exchanged, compared to its average volume of 563,839. The company has a market cap of $843.00 million, a PE ratio of -1.87 and a beta of 2.98. The firm has a 50-day moving average of $20.19 and a two-hundred day moving average of $25.30. Spyre Therapeutics, Inc. has a 12 month low of $13.89 and a 12 month high of $40.84.

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

Spyre Therapeutics 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).