Spyre Therapeutics, Inc. (NASDAQ:SYRE) Shares Bought by Blackstone Inc.

Blackstone Inc. increased its position in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 53.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 449,201 shares of the company's stock after buying an additional 156,206 shares during the period. Blackstone Inc. owned about 0.87% of Spyre Therapeutics worth $10,457,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of SYRE. Huntington National Bank bought a new position in Spyre Therapeutics during the fourth quarter valued at approximately $34,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Spyre Therapeutics in the fourth quarter valued at $46,000. KLP Kapitalforvaltning AS purchased a new stake in Spyre Therapeutics during the fourth quarter valued at $182,000. Tower Research Capital LLC TRC lifted its position in Spyre Therapeutics by 1,548.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,574 shares of the company's stock valued at $200,000 after purchasing an additional 8,054 shares during the last quarter. Finally, Arizona State Retirement System grew its stake 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 buying an additional 2,805 shares in the last quarter. Hedge funds and other institutional investors own 80.39% of the company's stock.

Spyre Therapeutics Stock Up 9.6 %

SYRE stock traded up $1.24 during trading on Friday, hitting $14.10. The company had a trading volume of 966,118 shares, compared to its average volume of 606,325. The firm has a market capitalization of $849.89 million, a P/E ratio of -1.89 and a beta of 2.78. The company has a 50 day simple moving average of $15.37 and a 200-day simple moving average of $22.05. Spyre Therapeutics, Inc. has a 52-week low of $10.91 and a 52-week high of $40.49.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.74) earnings per share for the quarter, beating analysts' consensus estimates of ($0.76) by $0.02. Sell-side analysts forecast that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Wedbush reaffirmed an "outperform" rating and issued a $65.00 price target on shares of Spyre Therapeutics in a report on Monday, May 5th. The Goldman Sachs Group raised Spyre Therapeutics to a "strong-buy" rating in a research report on Tuesday, February 18th. Wolfe Research started coverage on Spyre Therapeutics in a research report on Tuesday, March 18th. They issued an "outperform" rating and a $27.00 price target for the company. Leerink Partners began coverage on shares of Spyre Therapeutics in a research report on Tuesday, April 8th. They set an "outperform" rating and a $45.00 price objective on the stock. Finally, Leerink Partnrs upgraded shares of Spyre Therapeutics to a "strong-buy" rating in a report on Tuesday, April 8th. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $51.17.

About Spyre Therapeutics

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).