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

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

A number of other large investors also recently added to or reduced their stakes in the stock. Barclays PLC lifted its position in shares of Spyre Therapeutics by 64.7% in the third quarter. Barclays PLC now owns 105,467 shares of the company's stock valued at $3,101,000 after acquiring an additional 41,424 shares in the last quarter. Franklin Resources Inc. raised its stake in Spyre Therapeutics by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 760,666 shares of the company's stock valued at $23,322,000 after purchasing an additional 18,762 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Spyre Therapeutics by 29.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 29,473 shares of the company's stock valued at $867,000 after purchasing an additional 6,701 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in Spyre Therapeutics during the 4th quarter worth $290,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Spyre Therapeutics during the fourth quarter worth $46,000. 80.39% of the stock is currently owned by institutional investors and hedge funds.

Spyre Therapeutics Stock Up 9.6 %

NASDAQ:SYRE traded up $1.24 on Friday, reaching $14.10. The company's stock had a trading volume of 966,118 shares, compared to its average volume of 605,617. The firm has a market cap of $849.89 million, a price-to-earnings ratio of -1.89 and a beta of 2.78. Spyre Therapeutics, Inc. has a 12-month low of $10.91 and a 12-month high of $40.49. The stock has a 50 day moving average price of $15.37 and a 200 day moving average price of $22.13.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.74) EPS for the quarter, beating analysts' consensus estimates of ($0.76) by $0.02. Equities research analysts expect that Spyre Therapeutics, Inc. will post -4.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SYRE shares. Wolfe Research assumed coverage on shares of Spyre Therapeutics in a research report on Tuesday, March 18th. They set an "outperform" rating and a $27.00 price target on the stock. Leerink Partnrs upgraded Spyre Therapeutics to a "strong-buy" rating in a report on Tuesday, April 8th. Leerink Partners assumed coverage on Spyre Therapeutics in a report on Tuesday, April 8th. They issued an "outperform" rating and a $45.00 price target for the company. The Goldman Sachs Group raised 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 target price on shares of Spyre Therapeutics in a research note on Monday, May 5th. Eight equities 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 presently has an average rating of "Buy" and an average price target of $49.57.

Spyre Therapeutics 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).