Spyre Therapeutics, Inc. (NASDAQ:SYRE) Shares Sold by TD Asset Management Inc

TD Asset Management Inc cut its stake in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 65.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,368 shares of the company's stock after selling 42,600 shares during the quarter. TD Asset Management Inc's holdings in Spyre Therapeutics were worth $361,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GF Fund Management CO. LTD. acquired a new stake in Spyre Therapeutics in the fourth quarter worth about $29,000. Huntington National Bank acquired a new position in shares of Spyre Therapeutics in the fourth quarter worth $34,000. GAMMA Investing LLC acquired a new stake in Spyre Therapeutics during the first quarter worth approximately $70,000. KLP Kapitalforvaltning AS acquired a new position in shares of Spyre Therapeutics in the fourth quarter valued at approximately $182,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of 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 acquiring an additional 8,054 shares in the last quarter. 80.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wedbush restated an "outperform" rating and set a $65.00 price objective on shares of Spyre Therapeutics in a report on Wednesday. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $53.40.

Spyre Therapeutics Price Performance

NASDAQ:SYRE traded down $0.72 during mid-day trading on Thursday, reaching $15.24. The stock had a trading volume of 417,085 shares, compared to its average volume of 624,254. The stock has a 50-day simple moving average of $16.27 and a two-hundred day simple moving average of $17.04. Spyre Therapeutics, Inc. has a 12 month low of $10.91 and a 12 month high of $40.26. The stock has a market capitalization of $918.61 million, a PE ratio of -4.48 and a beta of 2.82.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.49) EPS for the quarter, beating analysts' consensus estimates of ($0.73) by $0.24. Equities analysts expect that Spyre Therapeutics, Inc. will post -4.46 EPS for the current year.

Spyre Therapeutics 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).