Millennium Management LLC Invests $3.91 Million in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Millennium Management LLC bought a new stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 167,804 shares of the company's stock, valued at approximately $3,906,000. Millennium Management LLC owned about 0.33% of Spyre Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Barclays PLC boosted its stake in Spyre Therapeutics by 64.7% during the third quarter. Barclays PLC now owns 105,467 shares of the company's stock valued at $3,101,000 after buying an additional 41,424 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new position in shares of Spyre Therapeutics in the 4th quarter valued at approximately $290,000. BNP Paribas Financial Markets bought a new position in shares of Spyre Therapeutics in the 4th quarter valued at approximately $437,000. JPMorgan Chase & Co. grew its holdings in Spyre Therapeutics by 19.6% in the 4th quarter. JPMorgan Chase & Co. now owns 35,248 shares of the company's stock valued at $821,000 after buying an additional 5,775 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in Spyre Therapeutics in the 4th quarter valued at approximately $6,241,000. 80.39% of the stock is currently owned by institutional investors.

Spyre Therapeutics Price Performance

Shares of SYRE stock traded up $0.10 on Monday, reaching $15.38. 126,744 shares of the stock were exchanged, compared to its average volume of 614,198. The stock has a market cap of $926.74 million, a PE ratio of -2.06 and a beta of 2.78. Spyre Therapeutics, Inc. has a one year low of $10.91 and a one year high of $40.26. The stock has a 50 day moving average price of $14.27 and a 200 day moving average price of $19.84.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.74) EPS for the quarter, topping analysts' consensus estimates of ($0.76) by $0.02. On average, research analysts expect that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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).