Vanguard Group Inc. Buys 51,794 Shares of Spyre Therapeutics, Inc. $SYRE

Key Points

• Vanguard Group Inc. increased its stake in Spyre Therapeutics by 1.8%, acquiring an additional 51,794 shares, bringing its total ownership to approximately 4.81% worth about $46.76 million.
• Spyre Therapeutics reported an earnings per share of ($0.49), surpassing analysts' expectations of ($0.73), and analysts forecast a projected EPS of ($4.46) for the current year.
• Wall Street analysts maintain a consensus Buy rating for Spyre Therapeutics, with an average target price of $53.40, indicating confidence in the company's future performance.

Vanguard Group Inc. grew its stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 1.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,898,267 shares of the company's stock after acquiring an additional 51,794 shares during the period. Vanguard Group Inc. owned 4.81% of Spyre Therapeutics worth $46,764,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Spyre Therapeutics by 4.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,741 shares of the company's stock worth $527,000 after purchasing an additional 916 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of Spyre Therapeutics in the fourth quarter valued at approximately $29,000. MetLife Investment Management LLC raised its position in shares of Spyre Therapeutics by 6.2% in the fourth quarter. MetLife Investment Management LLC now owns 21,382 shares of the company's stock valued at $498,000 after buying an additional 1,250 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its position in shares of Spyre Therapeutics by 0.8% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 389,422 shares of the company's stock valued at $6,283,000 after buying an additional 3,038 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new stake in shares of Spyre Therapeutics in the first quarter valued at approximately $70,000. Institutional investors own 80.39% of the company's stock.

Spyre Therapeutics Price Performance

SYRE opened at $16.58 on Tuesday. Spyre Therapeutics, Inc. has a fifty-two week low of $10.91 and a fifty-two week high of $40.26. The firm has a market capitalization of $1.00 billion, a PE ratio of -4.88 and a beta of 2.82. The company's 50-day moving average is $16.15 and its 200 day moving average is $16.43.

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

Wall Street Analyst Weigh In

Several research analysts have commented on SYRE shares. Wedbush restated an "outperform" rating and set a $65.00 price objective on shares of Spyre Therapeutics in a research report on Wednesday, August 6th. Wall Street Zen raised shares of Spyre Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday. Two investment analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price 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).

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