Voloridge Investment Management LLC Cuts Position in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Voloridge Investment Management LLC lessened its stake in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 26.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 115,470 shares of the company's stock after selling 41,011 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.22% of Spyre Therapeutics worth $2,688,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SYRE. Huntington National Bank acquired a new stake in shares of Spyre Therapeutics in the 4th quarter worth $34,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Spyre Therapeutics in the 4th quarter worth $46,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Spyre Therapeutics in the 4th quarter worth $182,000. Tower Research Capital LLC TRC boosted its position in shares of Spyre Therapeutics by 1,548.8% in 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 in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Spyre Therapeutics by 38.4% in 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 in the last quarter. Institutional investors own 80.39% of the company's stock.

Spyre Therapeutics Trading Down 1.9%

Shares of NASDAQ SYRE traded down $0.30 during trading on Friday, reaching $15.25. 380,763 shares of the company traded hands, compared to its average volume of 613,714. The firm's fifty day simple moving average is $14.33 and its 200 day simple moving average is $20.16. The stock has a market cap of $919.21 million, a P/E ratio of -2.04 and a beta of 2.78. Spyre Therapeutics, Inc. has a 12-month low of $10.91 and a 12-month high of $40.26.

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

Analyst Ratings Changes

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

About Spyre Therapeutics

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).