Affinity Asset Advisors LLC Decreases Holdings in Spyre Therapeutics, Inc. $SYRE

Key Points

• Affinity Asset Advisors LLC reduced its holdings in Spyre Therapeutics by 41.6%, owning 481,678 shares after selling 342,650 shares in the first quarter, making the stock its 27th largest investment.
• Several hedge funds, including JPMorgan Chase & Co. and Wells Fargo & Company, increased their positions in Spyre Therapeutics during the fourth quarter, indicating growing interest from institutional investors.
• Analysts have an average rating of "Buy" for Spyre Therapeutics, with a consensus price target set at $53.40 and continued positive assessments from firms like Wedbush.

Affinity Asset Advisors LLC trimmed its holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 41.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 481,678 shares of the company's stock after selling 342,650 shares during the period. Spyre Therapeutics accounts for about 0.7% of Affinity Asset Advisors LLC's holdings, making the stock its 27th biggest holding. Affinity Asset Advisors LLC owned 0.80% of Spyre Therapeutics worth $7,772,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SYRE. JPMorgan Chase & Co. increased its position in Spyre Therapeutics by 19.6% during the fourth quarter. JPMorgan Chase & Co. now owns 35,248 shares of the company's stock worth $821,000 after purchasing an additional 5,775 shares during the last quarter. Wells Fargo & Company MN increased its position in Spyre Therapeutics by 38.8% during the fourth quarter. Wells Fargo & Company MN now owns 24,718 shares of the company's stock worth $575,000 after purchasing an additional 6,908 shares during the last quarter. Legal & General Group Plc increased its position in Spyre Therapeutics by 14.8% during the fourth quarter. Legal & General Group Plc now owns 37,490 shares of the company's stock worth $873,000 after purchasing an additional 4,824 shares during the last quarter. Barclays PLC increased its position in Spyre Therapeutics by 16.7% during the fourth quarter. Barclays PLC now owns 123,071 shares of the company's stock worth $2,866,000 after purchasing an additional 17,604 shares during the last quarter. Finally, First Trust Advisors LP acquired a new stake in Spyre Therapeutics during the fourth quarter worth about $548,000. 80.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wedbush restated an "outperform" rating and set a $65.00 price objective on shares of Spyre Therapeutics in a research report on Wednesday, August 6th. Wall Street Zen raised shares of Spyre Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday. Two investment analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $53.40.

Spyre Therapeutics Price Performance

SYRE stock opened at $16.58 on Tuesday. The company has a fifty day moving average price of $16.15 and a 200 day moving average price of $16.43. Spyre Therapeutics, Inc. has a 12 month low of $10.91 and a 12 month high of $40.26. The company has a market cap of $1.00 billion, a price-to-earnings ratio of -4.88 and a beta of 2.82.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.73) by $0.24. As a group, analysts anticipate 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).

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