Jefferies Financial Group Inc. Acquires 31,900 Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Key Points

• Jefferies Financial Group Inc. increased its stake in Spyre Therapeutics by 2.6%, acquiring an additional 31,900 shares, and now holds approximately 2.07% of the company valued at $20.15 million.
• Spyre Therapeutics has received positive analyst ratings, with multiple firms assigning a "buy" or "strong-buy" rating, and an average price target of $53.40 per share.
• The company's stock opened at $16.97, with a market cap of $1.02 billion and a recent performance indicating significant price volatility over the past year.

Jefferies Financial Group Inc. raised its holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 2.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,248,854 shares of the company's stock after purchasing an additional 31,900 shares during the period. Jefferies Financial Group Inc. owned approximately 2.07% of Spyre Therapeutics worth $20,150,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. GF Fund Management CO. LTD. bought a new stake in shares of Spyre Therapeutics during the 4th quarter worth approximately $29,000. Huntington National Bank bought a new stake in shares of Spyre Therapeutics during the 4th quarter worth approximately $34,000. GAMMA Investing LLC bought a new stake in shares of Spyre Therapeutics during the 1st quarter worth approximately $70,000. KLP Kapitalforvaltning AS bought a new stake in shares of Spyre Therapeutics during the 4th quarter worth approximately $182,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Spyre Therapeutics by 1,548.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,574 shares of the company's stock worth $200,000 after acquiring an additional 8,054 shares during the period. Institutional investors own 80.39% of the company's stock.

Analyst Ratings Changes

SYRE has been the subject of a number of recent analyst reports. Leerink Partners initiated coverage on shares of Spyre Therapeutics in a report on Tuesday, April 8th. They set an "outperform" rating and a $45.00 price target for the company. Leerink Partnrs raised shares of Spyre Therapeutics to a "strong-buy" rating in a report on Tuesday, April 8th. Finally, Wedbush reiterated an "outperform" rating and set a $65.00 price objective on shares of Spyre Therapeutics in a research report on Monday, May 5th. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $53.40.

Spyre Therapeutics Price Performance

Shares of NASDAQ:SYRE opened at $16.97 on Friday. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -4.50 and a beta of 2.68. The firm has a 50 day simple moving average of $16.16 and a 200 day simple moving average of $17.17. Spyre Therapeutics, Inc. has a one year low of $10.91 and a one year high of $40.26.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last issued 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. As a group, analysts expect that Spyre Therapeutics, Inc. will post -4.46 EPS for the current year.

About Spyre Therapeutics

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).

Want to see what other hedge funds are holding SYRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.