Victory Capital Management Inc. Sells 16,230 Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Key Points

• Victory Capital Management Inc. reduced its stake in Spyre Therapeutics by 6.1%, selling 16,230 shares and owning approximately 0.42% of the company's stock worth $4,064,000 as of its latest SEC filing.
• Several institutional investors, including FMR LLC and Vanguard Group Inc., have increased their stakes in Spyre Therapeutics, contributing to hedge funds and institutional investors owning 80.39% of the company.
• Spyre Therapeutics has received positive analyst ratings, with an average rating of "Buy" and a consensus target price of $53.40, indicating a favorable outlook for the company's stock performance.

Victory Capital Management Inc. lowered its position in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 6.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 251,846 shares of the company's stock after selling 16,230 shares during the period. Victory Capital Management Inc. owned approximately 0.42% of Spyre Therapeutics worth $4,064,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC boosted its stake in Spyre Therapeutics by 15.4% in the 4th quarter. FMR LLC now owns 8,801,266 shares of the company's stock worth $204,893,000 after purchasing an additional 1,177,385 shares in the last quarter. RTW Investments LP boosted its stake in Spyre Therapeutics by 11.2% in the 4th quarter. RTW Investments LP now owns 3,621,996 shares of the company's stock worth $84,320,000 after purchasing an additional 363,636 shares in the last quarter. Vanguard Group Inc. boosted its stake in Spyre Therapeutics by 13.1% in the 4th quarter. Vanguard Group Inc. now owns 2,846,473 shares of the company's stock worth $66,266,000 after purchasing an additional 330,553 shares in the last quarter. Driehaus Capital Management LLC boosted its stake in Spyre Therapeutics by 308.1% in the 4th quarter. Driehaus Capital Management LLC now owns 2,803,655 shares of the company's stock worth $65,269,000 after purchasing an additional 2,116,575 shares in the last quarter. Finally, Braidwell LP boosted its stake in Spyre Therapeutics by 17.7% in the 4th quarter. Braidwell LP now owns 2,578,404 shares of the company's stock worth $60,025,000 after purchasing an additional 388,568 shares in the last quarter. Hedge funds and other institutional investors own 80.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Wedbush restated an "outperform" rating and issued a $65.00 target price on shares of Spyre Therapeutics in a research note on Monday, May 5th. Leerink Partners assumed coverage on shares of Spyre Therapeutics in a research note on Tuesday, April 8th. They set an "outperform" rating and a $45.00 price objective for the company. Finally, Leerink Partnrs upgraded shares of Spyre Therapeutics to a "strong-buy" rating in a research note on Tuesday, April 8th. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $53.40.

Spyre Therapeutics Price Performance

Shares of Spyre Therapeutics stock opened at $17.79 on Monday. The stock has a market cap of $1.07 billion, a P/E ratio of -4.72 and a beta of 2.68. The stock's 50 day simple moving average is $16.01 and its 200-day simple moving average is $17.24. Spyre Therapeutics, Inc. has a 1-year low of $10.91 and a 1-year 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 (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.02. As a group, research analysts expect that Spyre Therapeutics, Inc. will post -4.46 EPS for the current fiscal year.

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).

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