State Street Corp raised its stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 9.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,541,555 shares of the company's stock after acquiring an additional 131,896 shares during the period. State Street Corp owned approximately 3.00% of Spyre Therapeutics worth $45,337,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of SYRE. Amalgamated Bank acquired a new position in Spyre Therapeutics in the second quarter valued at about $28,000. Quest Partners LLC bought a new stake in shares of Spyre Therapeutics during the 2nd quarter worth approximately $36,000. SG Americas Securities LLC acquired a new stake in shares of Spyre Therapeutics during the 2nd quarter worth approximately $130,000. Carlyle Group Inc. bought a new position in Spyre Therapeutics in the second quarter valued at approximately $227,000. Finally, Intech Investment Management LLC acquired a new position in Spyre Therapeutics during the third quarter valued at approximately $246,000. 80.39% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
SYRE has been the topic of a number of research analyst reports. Wedbush reaffirmed an "outperform" rating and issued a $45.00 target price on shares of Spyre Therapeutics in a report on Friday, November 8th. Guggenheim lifted their target price on Spyre Therapeutics from $50.00 to $65.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Finally, Robert W. Baird increased their target price on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $51.50.
Read Our Latest Research Report on SYRE
Spyre Therapeutics Stock Performance
Shares of NASDAQ:SYRE traded up $0.73 during midday trading on Friday, hitting $23.86. 1,261,050 shares of the stock were exchanged, compared to its average volume of 530,303. The business's 50-day moving average price is $30.35 and its 200 day moving average price is $28.96. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -3.19 and a beta of 2.82. Spyre Therapeutics, Inc. has a 12 month low of $15.60 and a 12 month high of $47.97.
About Spyre Therapeutics
(
Free Report)
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).
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