Wellington Management Group LLP Grows Position in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Wellington Management Group LLP raised its holdings in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 6.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,604,508 shares of the company's stock after acquiring an additional 97,308 shares during the quarter. Wellington Management Group LLP owned approximately 2.66% of Spyre Therapeutics worth $37,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Spyre Therapeutics Price Performance

Shares of Spyre Therapeutics stock traded up $0.12 during trading hours on Monday, reaching $15.40. The company's stock had a trading volume of 381,326 shares, compared to its average volume of 615,193. The firm has a 50 day moving average price of $14.27 and a 200-day moving average price of $19.84. Spyre Therapeutics, Inc. has a one year low of $10.91 and a one year high of $40.26. The stock has a market cap of $928.25 million, a P/E ratio of -2.06 and a beta of 2.78.

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

Analyst Ratings Changes

SYRE has been the topic of several analyst reports. Leerink Partners initiated coverage on shares of Spyre Therapeutics in a research note on Tuesday, April 8th. They set an "outperform" rating and a $45.00 price target on the stock. The Goldman Sachs Group upgraded shares of Spyre Therapeutics to a "strong-buy" rating in a research report on Tuesday, February 18th. Leerink Partnrs upgraded shares of Spyre Therapeutics to a "strong-buy" rating in a research report on Tuesday, April 8th. Wolfe Research assumed coverage on shares of Spyre Therapeutics in a research report on Tuesday, March 18th. They set an "outperform" rating and a $27.00 price objective on the stock. Finally, Wedbush restated an "outperform" rating and set a $65.00 price objective on shares of Spyre Therapeutics in a research report on Monday, May 5th. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Spyre Therapeutics has a consensus rating of "Buy" and a consensus price target 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).