Schroder Investment Management Group Takes $2.56 Million Position in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Schroder Investment Management Group bought a new stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 113,620 shares of the company's stock, valued at approximately $2,561,000. Schroder Investment Management Group owned 0.22% of Spyre Therapeutics as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Spyre Therapeutics in the fourth quarter worth $46,000. Arizona State Retirement System grew its position in Spyre Therapeutics by 38.4% during the 4th quarter. Arizona State Retirement System now owns 10,115 shares of the company's stock valued at $235,000 after purchasing an additional 2,805 shares during the last quarter. Rhumbline Advisers increased its stake in Spyre Therapeutics by 6.9% during the 4th quarter. Rhumbline Advisers now owns 57,657 shares of the company's stock valued at $1,342,000 after purchasing an additional 3,722 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Spyre Therapeutics by 15.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 43,460 shares of the company's stock valued at $1,278,000 after purchasing an additional 5,678 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Spyre Therapeutics by 19.6% in the fourth quarter. JPMorgan Chase & Co. now owns 35,248 shares of the company's stock worth $821,000 after buying an additional 5,775 shares during the last quarter. 80.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SYRE. The Goldman Sachs Group raised shares of Spyre Therapeutics to a "strong-buy" rating in a research report on Tuesday, February 18th. Wolfe Research began coverage on Spyre Therapeutics in a report on Tuesday, March 18th. They issued an "outperform" rating and a $27.00 target price for the company. Wedbush reaffirmed an "outperform" rating and set a $65.00 price target on shares of Spyre Therapeutics in a report on Monday, January 13th. Leerink Partnrs upgraded Spyre Therapeutics to a "strong-buy" rating in a report on Tuesday. Finally, Leerink Partners initiated coverage on Spyre Therapeutics in a research report on Tuesday. They issued an "outperform" rating and a $45.00 target price for the company. Eight equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Spyre Therapeutics currently has a consensus rating of "Buy" and an average price target of $49.57.

Spyre Therapeutics Stock Up 2.4 %

NASDAQ:SYRE traded up $0.29 on Friday, hitting $12.22. The stock had a trading volume of 599,414 shares, compared to its average volume of 584,222. Spyre Therapeutics, Inc. has a 52-week low of $10.91 and a 52-week high of $40.84. The stock has a market cap of $736.34 million, a price-to-earnings ratio of -1.64 and a beta of 3.05. The business's 50-day simple moving average is $18.46 and its two-hundred day simple moving average is $24.29.

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

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).