Northern Trust Corp Boosts Stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Northern Trust Corp increased its position in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 11.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 348,983 shares of the company's stock after acquiring an additional 34,693 shares during the quarter. Northern Trust Corp owned about 0.68% of Spyre Therapeutics worth $8,124,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. MetLife Investment Management LLC raised its stake in shares of Spyre Therapeutics by 6.2% during the fourth quarter. MetLife Investment Management LLC now owns 21,382 shares of the company's stock worth $498,000 after buying an additional 1,250 shares during the last quarter. Huntington National Bank bought a new stake in shares of Spyre Therapeutics during the fourth quarter worth approximately $34,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Spyre Therapeutics during the fourth quarter worth $46,000. Arizona State Retirement System grew its stake in shares of Spyre Therapeutics by 38.4% during the fourth quarter. Arizona State Retirement System now owns 10,115 shares of the company's stock worth $235,000 after purchasing an additional 2,805 shares during the period. Finally, Rhumbline Advisers grew 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 worth $1,342,000 after purchasing an additional 3,722 shares during the period. 80.39% of the stock is owned by institutional investors.

Spyre Therapeutics Trading Down 4.0%

Shares of SYRE stock traded down $0.62 during trading on Wednesday, hitting $14.78. The company's stock had a trading volume of 274,429 shares, compared to its average volume of 612,990. The business has a fifty day moving average of $14.72 and a 200-day moving average of $21.08. The company has a market cap of $890.88 million, a PE ratio of -1.98 and a beta of 2.78. Spyre Therapeutics, Inc. has a 52 week low of $10.91 and a 52 week 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) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.76) by $0.02. As a group, research analysts predict that Spyre Therapeutics, Inc. will post -4.46 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wolfe Research assumed coverage on shares of Spyre Therapeutics in a research note on Tuesday, March 18th. They set an "outperform" rating and a $27.00 price objective on the stock. The Goldman Sachs Group raised shares of Spyre Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 18th. Leerink Partnrs raised shares of Spyre Therapeutics to a "strong-buy" rating in a research note on Tuesday, April 8th. Leerink Partners assumed coverage on Spyre Therapeutics in a research note on Tuesday, April 8th. They set an "outperform" rating and a $45.00 price objective on the stock. Finally, Wedbush reaffirmed an "outperform" rating and set a $65.00 price objective on shares of Spyre Therapeutics in a research note on Monday, May 5th. Six equities research 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 currently has an average 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).