Victory Capital Management Inc. Takes $6.24 Million Position in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Victory Capital Management Inc. bought a new stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 268,076 shares of the company's stock, valued at approximately $6,241,000. Victory Capital Management Inc. owned 0.52% of Spyre Therapeutics at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in SYRE. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Spyre Therapeutics in the fourth quarter valued at $46,000. Quest Partners LLC increased its stake in Spyre Therapeutics by 271.2% in the 3rd quarter. Quest Partners LLC now owns 5,654 shares of the company's stock worth $166,000 after buying an additional 4,131 shares during the period. Intech Investment Management LLC purchased a new position in Spyre Therapeutics in the 3rd quarter worth about $246,000. China Universal Asset Management Co. Ltd. purchased a new position in Spyre Therapeutics in the 4th quarter worth about $290,000. Finally, MetLife Investment Management LLC increased its stake in Spyre Therapeutics by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 20,132 shares of the company's stock worth $592,000 after buying an additional 11,344 shares during the period. 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. Wolfe Research assumed coverage on shares of Spyre Therapeutics in a research note on Tuesday. They issued an "outperform" rating and a $27.00 price target on the stock. The Goldman Sachs Group raised shares of Spyre Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 18th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $65.00 price target on shares of Spyre Therapeutics in a research note on Monday, January 13th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $50.86.

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Spyre Therapeutics Stock Performance

Spyre Therapeutics stock traded down $0.63 during midday trading on Tuesday, hitting $17.91. 393,238 shares of the company's stock were exchanged, compared to its average volume of 545,126. Spyre Therapeutics, Inc. has a 12 month low of $17.24 and a 12 month high of $47.97. The firm has a 50-day moving average of $21.29 and a two-hundred day moving average of $26.20. The company has a market cap of $1.08 billion, a PE ratio of -2.40 and a beta of 2.98.

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