Voloridge Investment Management LLC Lowers Stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Voloridge Investment Management LLC trimmed its holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 26.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 115,470 shares of the company's stock after selling 41,011 shares during the quarter. Voloridge Investment Management LLC owned 0.22% of Spyre Therapeutics worth $2,688,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of SYRE. Huntington National Bank bought a new position in Spyre Therapeutics during the fourth quarter valued at approximately $34,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Spyre Therapeutics in the 4th quarter valued at $46,000. KLP Kapitalforvaltning AS bought a new position in shares of Spyre Therapeutics in the fourth quarter valued at about $182,000. Tower Research Capital LLC TRC raised its holdings in 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 purchasing an additional 8,054 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in Spyre Therapeutics by 38.4% during the 4th 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 last quarter. 80.39% of the stock is owned by hedge funds and other institutional investors.

Spyre Therapeutics Stock Performance

SYRE traded down $0.30 on Friday, hitting $15.25. 380,763 shares of the company were exchanged, compared to its average volume of 616,133. Spyre Therapeutics, Inc. has a 12 month low of $10.91 and a 12 month high of $40.26. The firm has a fifty day simple moving average of $14.27 and a two-hundred day simple moving average of $19.84. The stock has a market capitalization of $919.21 million, a PE ratio of -2.04 and a beta of 2.78.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last posted its earnings results 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, equities analysts expect that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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