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

Several other institutional investors and hedge funds have also recently bought and sold shares of SYRE. XTX Topco Ltd bought a new position in shares of Spyre Therapeutics in the first quarter valued at approximately $460,000. Emerald Mutual Fund Advisers Trust increased its holdings in shares of Spyre Therapeutics by 0.8% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 389,422 shares of the company's stock worth $6,283,000 after purchasing an additional 3,038 shares during the period. Bank of New York Mellon Corp increased its stake in Spyre Therapeutics by 10.2% in the first quarter. Bank of New York Mellon Corp now owns 114,240 shares of the company's stock valued at $1,843,000 after acquiring an additional 10,552 shares during the period. GAMMA Investing LLC bought a new stake in Spyre Therapeutics in the first quarter valued at about $70,000. Finally, Wellington Management Group LLP lifted its position in shares of Spyre Therapeutics by 6.5% during the fourth quarter. Wellington Management Group LLP now owns 1,604,508 shares of the company's stock worth $37,353,000 after purchasing an additional 97,308 shares in the last quarter. Institutional investors and hedge funds own 80.39% of the company's stock.

Spyre Therapeutics Trading Up 5.0%

NASDAQ:SYRE traded up $0.80 during mid-day trading on Tuesday, reaching $16.96. The company's stock had a trading volume of 187,418 shares, compared to its average volume of 624,351. Spyre Therapeutics, Inc. has a 12-month low of $10.91 and a 12-month high of $40.26. The firm's fifty day moving average price is $16.21 and its two-hundred day moving average price is $17.05. The stock has a market cap of $1.02 billion, a P/E ratio of -4.48 and a beta of 2.82.

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

Analysts Set New Price Targets

Several brokerages have commented on SYRE. Leerink Partners initiated coverage on shares of Spyre Therapeutics in a research note on Tuesday, April 8th. They issued an "outperform" rating and a $45.00 target price for the company. Leerink Partnrs raised shares of Spyre Therapeutics to a "strong-buy" rating in a report on Tuesday, April 8th. Finally, Wedbush restated an "outperform" rating and issued a $65.00 target price on shares of Spyre Therapeutics in a research report on Monday, May 5th. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Spyre Therapeutics has an average rating of "Buy" and an average target price of $53.40.

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).