Spyre Therapeutics, Inc. (NASDAQ:SYRE) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP increased its holdings in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 6.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,604,508 shares of the company's stock after purchasing an additional 97,308 shares during the quarter. Wellington Management Group LLP owned 2.66% of Spyre Therapeutics worth $37,353,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. California State Teachers Retirement System boosted its stake in shares of Spyre Therapeutics by 32.1% in the 4th quarter. California State Teachers Retirement System now owns 32,598 shares of the company's stock valued at $759,000 after buying an additional 7,923 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Spyre Therapeutics during the fourth quarter worth approximately $2,844,000. GF Fund Management CO. LTD. purchased a new stake in Spyre Therapeutics during the fourth quarter worth approximately $29,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Spyre Therapeutics by 85.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 48,981 shares of the company's stock worth $1,140,000 after purchasing an additional 22,540 shares during the last quarter. Finally, Woodline Partners LP lifted its stake in Spyre Therapeutics by 33.5% during the fourth quarter. Woodline Partners LP now owns 352,680 shares of the company's stock worth $8,210,000 after purchasing an additional 88,424 shares during the last quarter. 80.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on SYRE. Wolfe Research began coverage on Spyre Therapeutics in a research report on Tuesday, March 18th. They set an "outperform" rating and a $27.00 price target on the stock. Leerink Partners began coverage on Spyre Therapeutics in a report on Tuesday, April 8th. They set an "outperform" rating and a $45.00 price objective on the stock. 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, The Goldman Sachs Group upgraded Spyre Therapeutics to a "strong-buy" rating in a research report on Tuesday, February 18th. Six research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Spyre Therapeutics presently has an average rating of "Buy" and an average price target of $53.40.

Spyre Therapeutics Trading Up 1.3%

NASDAQ:SYRE traded up $0.22 on Wednesday, hitting $16.79. 138,271 shares of the stock were exchanged, compared to its average volume of 614,080. The stock has a market cap of $1.01 billion, a PE ratio of -2.25 and a beta of 2.78. The stock has a fifty day moving average of $14.22 and a 200-day moving average of $19.73. Spyre Therapeutics, Inc. has a fifty-two week low of $10.91 and a fifty-two week high of $40.26.

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