Deep Track Capital LP Sells 780,985 Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Deep Track Capital LP reduced its position in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 78.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 219,015 shares of the company's stock after selling 780,985 shares during the period. Deep Track Capital LP owned approximately 0.43% of Spyre Therapeutics worth $5,099,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC increased its position in Spyre Therapeutics by 64.7% during the third 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. Franklin Resources Inc. grew its position in 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 buying an additional 18,762 shares in the last quarter. JPMorgan Chase & Co. raised 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 acquiring an additional 6,701 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new stake in shares of Spyre Therapeutics during the 4th quarter valued at $290,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Spyre Therapeutics during the 4th quarter worth $46,000. 80.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SYRE. Leerink Partners began coverage on Spyre Therapeutics in a research note on Tuesday, April 8th. They issued an "outperform" rating and a $45.00 price target on the stock. Wolfe Research began coverage on shares of Spyre Therapeutics in a research report on Tuesday, March 18th. They set an "outperform" rating and a $27.00 price objective on the stock. The Goldman Sachs Group raised Spyre Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 18th. Leerink Partnrs raised shares of Spyre Therapeutics to a "strong-buy" rating in a research report on Tuesday, April 8th. Finally, Wedbush restated an "outperform" rating and set a $65.00 price objective 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Spyre Therapeutics presently has a consensus rating of "Buy" and an average price target of $51.17.

Spyre Therapeutics Stock Up 8.2%

Shares of NASDAQ SYRE traded up $1.15 during midday trading on Monday, hitting $15.25. The stock had a trading volume of 194,838 shares, compared to its average volume of 604,714. The business's 50 day moving average is $15.37 and its 200-day moving average is $21.97. 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 $919.27 million, a P/E ratio of -2.04 and a beta of 2.78.

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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.76) by $0.02. As a group, analysts expect that Spyre Therapeutics, Inc. will post -4.46 EPS for the current fiscal year.

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).