Capital World Investors Buys Shares of 378,573 Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Capital World Investors acquired a new stake in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 378,573 shares of the company's stock, valued at approximately $8,813,000. Capital World Investors owned about 0.74% of Spyre Therapeutics as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Jane Street Group LLC grew its holdings in Spyre Therapeutics by 78.7% in the 3rd quarter. Jane Street Group LLC now owns 20,641 shares of the company's stock valued at $607,000 after buying an additional 9,090 shares during the last quarter. Barclays PLC lifted its position in shares of Spyre Therapeutics by 64.7% in the 3rd quarter. Barclays PLC now owns 105,467 shares of the company's stock worth $3,101,000 after acquiring an additional 41,424 shares during the period. Geode Capital Management LLC lifted its position in shares of Spyre Therapeutics by 16.4% in the 3rd quarter. Geode Capital Management LLC now owns 891,048 shares of the company's stock worth $26,211,000 after acquiring an additional 125,214 shares during the period. Franklin Resources Inc. lifted its position in shares of Spyre Therapeutics by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 760,666 shares of the company's stock worth $23,322,000 after acquiring an additional 18,762 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Spyre Therapeutics by 29.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 29,473 shares of the company's stock worth $867,000 after acquiring an additional 6,701 shares during the period. Institutional investors and hedge funds own 80.39% of the company's stock.

Analysts Set New Price Targets

SYRE has been the subject of a number of research reports. The Goldman Sachs Group upgraded Spyre Therapeutics to a "strong-buy" rating in a research report on Tuesday, February 18th. Wedbush reiterated an "outperform" rating and issued a $65.00 price objective on shares of Spyre Therapeutics in a research report on Monday, January 13th. Leerink Partnrs upgraded Spyre Therapeutics to a "strong-buy" rating in a research report on Tuesday, April 8th. Leerink Partners started coverage on Spyre Therapeutics in a research report on Tuesday, April 8th. They set an "outperform" rating and a $45.00 target price for the company. Finally, Wolfe Research started coverage on Spyre Therapeutics in a research report on Tuesday, March 18th. They set an "outperform" rating and a $27.00 target price for the company. Eight research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Spyre Therapeutics has an average rating of "Buy" and an average price target of $49.57.

Spyre Therapeutics Stock Down 5.4 %

SYRE traded down $0.80 during trading on Friday, hitting $14.13. The company's stock had a trading volume of 387,940 shares, compared to its average volume of 600,296. The firm's 50 day moving average price is $16.57 and its two-hundred day moving average price is $23.24. Spyre Therapeutics, Inc. has a 12 month low of $10.91 and a 12 month high of $40.49. The stock has a market capitalization of $851.70 million, a price-to-earnings ratio of -1.89 and a beta of 3.05.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.81) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $0.08. On average, sell-side analysts forecast 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).