Wellington Management Group LLP Acquires 97,308 Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Wellington Management Group LLP boosted its position in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 6.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,604,508 shares of the company's stock after acquiring an additional 97,308 shares during the period. Wellington Management Group LLP owned 3.12% of Spyre Therapeutics worth $37,353,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Spyre Therapeutics by 13.1% during the fourth quarter. Vanguard Group Inc. now owns 2,846,473 shares of the company's stock valued at $66,266,000 after acquiring an additional 330,553 shares in the last quarter. State Street Corp increased its position in Spyre Therapeutics by 9.4% during the 3rd quarter. State Street Corp now owns 1,541,555 shares of the company's stock valued at $45,337,000 after purchasing an additional 131,896 shares during the period. Pictet Asset Management Holding SA raised its holdings in Spyre Therapeutics by 32.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,092,124 shares of the company's stock worth $25,425,000 after purchasing an additional 266,418 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Spyre Therapeutics by 16.4% in the 3rd quarter. Geode Capital Management LLC now owns 891,048 shares of the company's stock worth $26,211,000 after purchasing an additional 125,214 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of Spyre Therapeutics by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 760,666 shares of the company's stock valued at $23,322,000 after purchasing an additional 18,762 shares in the last quarter. Hedge funds and other institutional investors own 80.39% of the company's stock.

Spyre Therapeutics Trading Up 2.4 %

Spyre Therapeutics stock traded up $0.29 during mid-day trading on Friday, hitting $12.22. The company had a trading volume of 599,414 shares, compared to its average volume of 584,222. Spyre Therapeutics, Inc. has a 12 month low of $10.91 and a 12 month high of $40.84. The company has a market capitalization of $736.34 million, a PE ratio of -1.64 and a beta of 3.05. The stock's 50 day moving average price is $18.46 and its two-hundred day moving average price is $24.29.

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Leerink Partnrs raised shares of Spyre Therapeutics to a "strong-buy" rating in a research note on Tuesday. 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. Wolfe Research began coverage on Spyre Therapeutics in a research report on Tuesday, March 18th. They set an "outperform" rating and a $27.00 price target on the stock. The Goldman Sachs Group raised Spyre Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 18th. Finally, Wedbush reissued an "outperform" rating and set a $65.00 price objective on shares of Spyre Therapeutics in a research report on Monday, January 13th. Eight investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $49.57.

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).