Spyre Therapeutics, Inc. (NASDAQ:SYRE) Stock Position Lowered by Cinctive Capital Management LP

Cinctive Capital Management LP decreased its stake in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 68.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,567 shares of the company's stock after selling 41,689 shares during the period. Cinctive Capital Management LP's holdings in Spyre Therapeutics were worth $456,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of SYRE. Huntington National Bank acquired a new stake in shares of Spyre Therapeutics during the 4th quarter worth $34,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Spyre Therapeutics during the fourth quarter worth about $46,000. Arizona State Retirement System raised its holdings 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 purchasing an additional 2,805 shares during the period. Rhumbline Advisers raised its holdings in shares of Spyre Therapeutics by 6.9% in the 4th quarter. Rhumbline Advisers now owns 57,657 shares of the company's stock worth $1,342,000 after purchasing an additional 3,722 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Spyre Therapeutics by 15.0% in 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. Hedge funds and other institutional investors own 80.39% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Leerink Partnrs upgraded shares of Spyre Therapeutics to a "strong-buy" rating in a report on Tuesday. Wedbush reaffirmed an "outperform" rating and set 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 research note on Tuesday, February 18th. Wolfe Research initiated 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 on the stock. Finally, Leerink Partners started coverage on Spyre Therapeutics in a report on Tuesday. They set an "outperform" rating and a $45.00 price objective on the stock. Eight research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Spyre Therapeutics has an average rating of "Buy" and an average price target of $49.57.

Spyre Therapeutics Stock Performance

Shares of SYRE traded up $1.57 during mid-day trading on Wednesday, reaching $13.37. 1,025,463 shares of the company's stock traded hands, compared to its average volume of 580,000. The business's 50-day moving average price is $18.91 and its 200-day moving average price is $24.51. The stock has a market capitalization of $805.64 million, a P/E ratio of -1.79 and a beta of 3.05. Spyre Therapeutics, Inc. has a 12 month low of $10.91 and a 12 month high of $40.84.

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