Bank of America Corp DE Has $166,000 Stock Position in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Bank of America Corp DE lowered its position in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 97.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,142 shares of the company's stock after selling 250,655 shares during the quarter. Bank of America Corp DE's holdings in Spyre Therapeutics were worth $166,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. FMR LLC increased its position in Spyre Therapeutics by 15.4% in the 4th quarter. FMR LLC now owns 8,801,266 shares of the company's stock valued at $204,893,000 after acquiring an additional 1,177,385 shares during the period. Boxer Capital Management LLC bought a new position in shares of Spyre Therapeutics in the fourth quarter worth $10,864,000. Capital World Investors acquired a new position in shares of Spyre Therapeutics during the fourth quarter valued at $8,813,000. Vanguard Group Inc. raised its stake in shares of Spyre Therapeutics by 13.1% during the fourth quarter. Vanguard Group Inc. now owns 2,846,473 shares of the company's stock valued at $66,266,000 after purchasing an additional 330,553 shares in the last quarter. Finally, Affinity Asset Advisors LLC lifted its holdings in Spyre Therapeutics by 65.4% in the fourth quarter. Affinity Asset Advisors LLC now owns 824,328 shares of the company's stock worth $19,190,000 after purchasing an additional 325,908 shares during the period. Institutional investors own 80.39% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on SYRE shares. The Goldman Sachs Group raised shares of Spyre Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 18th. Wedbush reiterated an "outperform" rating and set a $65.00 price objective on shares of Spyre Therapeutics in a research note on Monday, May 5th. Leerink Partnrs raised Spyre Therapeutics to a "strong-buy" rating in a report on Tuesday, April 8th. Leerink Partners initiated coverage on Spyre Therapeutics in a research report on Tuesday, April 8th. They issued an "outperform" rating and a $45.00 target price for the company. Finally, Wolfe Research began coverage on Spyre Therapeutics in a research note on Tuesday, March 18th. They set an "outperform" rating and a $27.00 price target for the company. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Spyre Therapeutics presently has an average rating of "Buy" and an average target price of $53.40.

Spyre Therapeutics Trading Down 0.7%

Shares of NASDAQ SYRE traded down $0.12 during midday trading on Monday, reaching $17.17. The company's stock had a trading volume of 504,521 shares, compared to its average volume of 615,803. Spyre Therapeutics, Inc. has a one year low of $10.91 and a one year high of $40.26. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -2.30 and a beta of 2.72. The company has a 50 day moving average price of $14.68 and a 200 day moving average price of $19.09.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.74) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.02. Research analysts anticipate that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current fiscal 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).