BNP Paribas Financial Markets Invests $437,000 in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

BNP Paribas Financial Markets purchased a new stake in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 18,784 shares of the company's stock, valued at approximately $437,000.

Several other hedge funds also recently modified their holdings of the stock. Boxer Capital Management LLC purchased a new position in shares of Spyre Therapeutics during the fourth quarter valued at approximately $10,864,000. Soros Fund Management LLC boosted its holdings in Spyre Therapeutics by 72.4% during the 4th quarter. Soros Fund Management LLC now owns 250,000 shares of the company's stock worth $5,820,000 after acquiring an additional 105,000 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its holdings in Spyre Therapeutics by 52.4% during the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 386,384 shares of the company's stock worth $8,995,000 after acquiring an additional 132,834 shares during the last quarter. Northern Trust Corp boosted its holdings in Spyre Therapeutics by 11.0% during the fourth quarter. Northern Trust Corp now owns 348,983 shares of the company's stock worth $8,124,000 after purchasing an additional 34,693 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Spyre Therapeutics by 21.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 52,762 shares of the company's stock worth $1,228,000 after purchasing an additional 9,302 shares during the last quarter. Hedge funds and other institutional investors own 80.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Leerink Partners started coverage on Spyre Therapeutics in a research note on Tuesday, April 8th. They issued an "outperform" rating and a $45.00 target price on the stock. Wedbush reissued an "outperform" rating and issued a $65.00 price target on shares of Spyre Therapeutics in a report on Monday, May 5th. The Goldman Sachs Group raised shares of Spyre Therapeutics to a "strong-buy" rating in a report on Tuesday, February 18th. Wolfe Research assumed coverage on shares of Spyre Therapeutics in a report on Tuesday, March 18th. They issued an "outperform" rating and a $27.00 price target on the stock. Finally, Leerink Partnrs upgraded shares of Spyre Therapeutics to a "strong-buy" rating in a research note on Tuesday, April 8th. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $53.40.

Spyre Therapeutics Price Performance

Shares of NASDAQ SYRE traded down $0.27 during trading on Friday, reaching $15.28. 49,987 shares of the stock traded hands, compared to its average volume of 612,427. Spyre Therapeutics, Inc. has a 52-week low of $10.91 and a 52-week high of $40.26. The company has a 50-day moving average of $14.33 and a 200-day moving average of $20.16. The stock has a market capitalization of $920.78 million, a P/E ratio of -2.04 and a beta of 2.78.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.74) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.02. Analysts expect 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).