Braidwell LP Acquires 388,568 Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Braidwell LP grew its position in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 17.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,578,404 shares of the company's stock after buying an additional 388,568 shares during the quarter. Spyre Therapeutics accounts for approximately 1.8% of Braidwell LP's investment portfolio, making the stock its 21st biggest holding. Braidwell LP owned 5.01% of Spyre Therapeutics worth $60,025,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Huntington National Bank purchased a new stake in Spyre Therapeutics in the fourth quarter worth $34,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Spyre Therapeutics in the 4th quarter worth about $46,000. KLP Kapitalforvaltning AS bought a new stake in Spyre Therapeutics in the 4th quarter valued at about $182,000. Tower Research Capital LLC TRC lifted its holdings 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 increased its stake in shares of Spyre Therapeutics by 38.4% in the fourth quarter. Arizona State Retirement System now owns 10,115 shares of the company's stock worth $235,000 after purchasing an additional 2,805 shares in the last quarter. 80.39% of the stock is owned by institutional investors.

Spyre Therapeutics Stock Up 9.6 %

Shares of NASDAQ SYRE traded up $1.24 during trading hours on Friday, reaching $14.10. 966,118 shares of the stock traded hands, compared to its average volume of 606,325. The company's 50-day simple moving average is $15.37 and its two-hundred day simple moving average is $22.05. The company has a market capitalization of $849.89 million, a P/E ratio of -1.89 and a beta of 2.78. 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 announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.74) earnings per share for the quarter, topping analysts' consensus estimates of ($0.76) by $0.02. As a group, sell-side analysts forecast that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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).