UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 22,540 Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 85.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,981 shares of the company's stock after acquiring an additional 22,540 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.10% of Spyre Therapeutics worth $1,140,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Huntington National Bank bought a new position in shares of Spyre Therapeutics during the fourth quarter valued at $34,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Spyre Therapeutics in the fourth quarter worth about $46,000. KLP Kapitalforvaltning AS bought a new stake in shares of Spyre Therapeutics during the 4th quarter valued at about $182,000. Tower Research Capital LLC TRC grew 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 valued at $200,000 after purchasing an additional 8,054 shares during the period. Finally, Arizona State Retirement System grew its stake in shares of Spyre Therapeutics by 38.4% during the 4th quarter. Arizona State Retirement System now owns 10,115 shares of the company's stock valued at $235,000 after purchasing an additional 2,805 shares during the period. 80.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SYRE shares. Leerink Partners initiated coverage on Spyre Therapeutics in a research note on Tuesday, April 8th. They set an "outperform" rating and a $45.00 price target for the company. The Goldman Sachs Group raised Spyre Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 18th. Wedbush reiterated an "outperform" rating and set a $65.00 target price on shares of Spyre Therapeutics in a research report on Monday, May 5th. Leerink Partnrs upgraded Spyre Therapeutics to a "strong-buy" rating in a research report on Tuesday, April 8th. Finally, Wolfe Research initiated coverage on Spyre Therapeutics in a research report on Tuesday, March 18th. They set an "outperform" rating and a $27.00 target price for the company. Six 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 MarketBeat.com, Spyre Therapeutics presently has an average rating of "Buy" and a consensus target price of $53.40.

Spyre Therapeutics Stock Down 2.4%

NASDAQ SYRE traded down $0.42 during trading on Friday, hitting $17.29. 325,351 shares of the stock traded hands, compared to its average volume of 616,950. The company has a market capitalization of $1.04 billion, a P/E ratio of -2.31 and a beta of 2.72. The firm has a 50-day simple moving average of $14.57 and a 200-day simple moving average of $19.29. 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 posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.74) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.02. As a group, research analysts predict that Spyre Therapeutics, Inc. will post -4.46 EPS for the current fiscal year.

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).