Boxer Capital Management LLC Purchases New Position in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Boxer Capital Management LLC bought a new position in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 466,680 shares of the company's stock, valued at approximately $10,864,000. Boxer Capital Management LLC owned 0.91% of Spyre Therapeutics as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Jane Street Group LLC increased its holdings in shares of Spyre Therapeutics by 78.7% in the third quarter. Jane Street Group LLC now owns 20,641 shares of the company's stock worth $607,000 after purchasing an additional 9,090 shares during the period. Barclays PLC boosted its position in shares of Spyre Therapeutics by 64.7% during the 3rd 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 during the last quarter. Franklin Resources Inc. grew its holdings in shares of Spyre Therapeutics by 2.5% during the third quarter. Franklin Resources Inc. now owns 760,666 shares of the company's stock worth $23,322,000 after purchasing an additional 18,762 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Spyre Therapeutics by 29.4% in the third 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. Finally, China Universal Asset Management Co. Ltd. bought a new stake in Spyre Therapeutics during the fourth quarter valued at approximately $290,000. Hedge funds and other institutional investors own 80.39% of the company's stock.

Spyre Therapeutics Stock Performance

Shares of NASDAQ SYRE traded up $0.19 during mid-day trading on Wednesday, hitting $12.70. 101,825 shares of the stock traded hands, compared to its average volume of 599,295. Spyre Therapeutics, Inc. has a 52 week low of $10.91 and a 52 week high of $40.49. The company has a market cap of $765.75 million, a price-to-earnings ratio of -1.71 and a beta of 2.78. The stock has a fifty day moving average price of $15.69 and a 200-day moving average price of $22.47.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SYRE. Wolfe Research assumed coverage on Spyre Therapeutics in a report on Tuesday, March 18th. They set an "outperform" rating and a $27.00 price objective on the stock. Leerink Partnrs raised Spyre Therapeutics to a "strong-buy" rating in a research note on Tuesday, April 8th. Wedbush reaffirmed an "outperform" rating and issued a $65.00 price target on shares of Spyre Therapeutics in a research note on Monday. The Goldman Sachs Group upgraded Spyre Therapeutics to a "strong-buy" rating in a research report on Tuesday, February 18th. Finally, Leerink Partners began coverage on shares of Spyre Therapeutics in a research note on Tuesday, April 8th. They issued an "outperform" rating and a $45.00 target price on the stock. Eight research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock 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).