Vanguard Group Inc. Boosts Stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Vanguard Group Inc. boosted its holdings in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 13.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,846,473 shares of the company's stock after acquiring an additional 330,553 shares during the quarter. Vanguard Group Inc. owned about 5.53% of Spyre Therapeutics worth $66,266,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in Spyre Therapeutics by 89.4% during the third quarter. Wellington Management Group LLP now owns 1,507,200 shares of the company's stock worth $44,327,000 after purchasing an additional 711,254 shares during the period. Victory Capital Management Inc. acquired a new stake in Spyre Therapeutics in the fourth quarter valued at approximately $6,241,000. Candriam S.C.A. increased its position in shares of Spyre Therapeutics by 135.8% in the 4th quarter. Candriam S.C.A. now owns 247,591 shares of the company's stock valued at $5,764,000 after purchasing an additional 142,591 shares during the last quarter. State Street Corp raised its holdings in shares of Spyre Therapeutics by 9.4% in 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 in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Spyre Therapeutics by 16.4% during 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 last quarter. Hedge funds and other institutional investors own 80.39% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SYRE. The Goldman Sachs Group upgraded Spyre Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 18th. Leerink Partnrs raised Spyre Therapeutics to a "strong-buy" rating in a research report on Tuesday, April 8th. Wolfe Research started coverage on Spyre Therapeutics in a research note on Tuesday, March 18th. They issued an "outperform" rating and a $27.00 price objective for the company. Wedbush reaffirmed an "outperform" rating and issued a $65.00 target price on shares of Spyre Therapeutics in a report on Monday, January 13th. Finally, Leerink Partners initiated coverage on Spyre Therapeutics in a report on Tuesday, April 8th. They set an "outperform" rating and a $45.00 price target on the stock. Eight investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $49.57.

Spyre Therapeutics Trading Down 1.3 %

Shares of NASDAQ:SYRE traded down $0.16 on Wednesday, reaching $12.55. 67,963 shares of the company were exchanged, compared to its average volume of 585,986. Spyre Therapeutics, Inc. has a 1-year low of $10.91 and a 1-year high of $40.49. The company has a 50-day moving average of $18.03 and a 200-day moving average of $24.07. The firm has a market cap of $756.23 million, a price-to-earnings ratio of -1.68 and a beta of 3.05.

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