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

Millennium Management LLC purchased a new stake in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 167,804 shares of the company's stock, valued at approximately $3,906,000. Millennium Management LLC owned 0.33% of Spyre Therapeutics as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Barclays PLC grew its stake in Spyre Therapeutics by 64.7% in the 3rd quarter. Barclays PLC now owns 105,467 shares of the company's stock worth $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 Spyre Therapeutics during the 4th quarter worth approximately $290,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Spyre Therapeutics in the fourth quarter worth $46,000. Rhumbline Advisers raised its stake in shares of Spyre Therapeutics by 6.9% during the fourth quarter. Rhumbline Advisers now owns 57,657 shares of the company's stock valued at $1,342,000 after acquiring an additional 3,722 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Spyre Therapeutics by 13.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 379,650 shares of the company's stock worth $8,838,000 after buying an additional 46,375 shares during the last quarter. 80.39% of the stock is owned by institutional investors.

Spyre Therapeutics Price Performance

Spyre Therapeutics stock traded up $1.17 during mid-day trading on Tuesday, reaching $16.57. The stock had a trading volume of 501,994 shares, compared to its average volume of 615,951. Spyre Therapeutics, Inc. has a one year low of $10.91 and a one year high of $40.26. The company has a 50-day moving average price of $14.22 and a two-hundred day moving average price of $19.73. The company has a market capitalization of $998.77 million, a price-to-earnings ratio of -2.22 and a beta of 2.78.

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

Analysts Set New Price Targets

A number of brokerages have issued reports on SYRE. Wolfe Research began coverage on shares of Spyre Therapeutics in a research report on Tuesday, March 18th. They set an "outperform" rating and a $27.00 price objective on the stock. The Goldman Sachs Group upgraded shares of Spyre Therapeutics to a "strong-buy" rating in a report on Tuesday, February 18th. Wedbush reiterated an "outperform" rating and set a $65.00 target price on shares of Spyre Therapeutics in a report on Monday, May 5th. Leerink Partnrs upgraded Spyre Therapeutics to a "strong-buy" rating in a report on Tuesday, April 8th. Finally, Leerink Partners assumed coverage on shares of Spyre Therapeutics in a report on Tuesday, April 8th. They set an "outperform" rating and a $45.00 target price on the stock. Six 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, Spyre Therapeutics presently has a consensus rating of "Buy" and a consensus price target 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).