Woodline Partners LP Boosts Position in Spyre Therapeutics, Inc. $SYRE

Key Points

• Woodline Partners LP increased its stake in Spyre Therapeutics by 31.8% in the first quarter, now owning approximately 0.77% of the company valued at $7.5 million.
• Spyre Therapeutics' stock has a market cap of $978.48 million and has recently shown volatility with a 1-year low of $10.91 and a high of $40.26.
• Analysts have set a consensus price target of $53.40 for Spyre Therapeutics, with two analysts rating it as a Strong Buy and five as Buy.

Woodline Partners LP lifted its stake in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 31.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 464,808 shares of the company's stock after acquiring an additional 112,128 shares during the period. Woodline Partners LP owned 0.77% of Spyre Therapeutics worth $7,500,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. RTW Investments LP increased its position 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 purchasing an additional 363,636 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Spyre Therapeutics by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 2,898,267 shares of the company's stock worth $46,764,000 after purchasing an additional 51,794 shares during the last quarter. Paradigm Biocapital Advisors LP increased its position in shares of Spyre Therapeutics by 39.3% during the 1st quarter. Paradigm Biocapital Advisors LP now owns 2,127,205 shares of the company's stock worth $34,322,000 after purchasing an additional 600,000 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Spyre Therapeutics by 6.5% during the 4th quarter. Wellington Management Group LLP now owns 1,604,508 shares of the company's stock worth $37,353,000 after purchasing an additional 97,308 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Spyre Therapeutics by 30.0% during the 4th quarter. Janus Henderson Group PLC now owns 1,456,740 shares of the company's stock worth $33,927,000 after purchasing an additional 336,209 shares during the last quarter. 80.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SYRE has been the subject of a number of recent analyst reports. Wedbush reissued an "outperform" rating and set a $65.00 price objective on shares of Spyre Therapeutics in a research report on Wednesday, August 6th. BTIG Research restated a "buy" rating and set a $70.00 target price on shares of Spyre Therapeutics in a report on Tuesday. Finally, Wall Street Zen upgraded Spyre Therapeutics from a "sell" rating to a "hold" rating in a report on Monday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating and six have given a Buy rating to the company's stock. According to MarketBeat.com, Spyre Therapeutics presently has an average rating of "Buy" and an average price target of $56.17.

Insiders Place Their Bets

In related news, CFO Scott L. Burrows sold 18,428 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $16.26, for a total transaction of $299,639.28. Following the completion of the sale, the chief financial officer owned 97,994 shares in the company, valued at $1,593,382.44. The trade was a 15.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.20% of the stock is currently owned by insiders.

Spyre Therapeutics Stock Performance

Shares of SYRE traded up $0.37 during midday trading on Wednesday, hitting $15.19. The company had a trading volume of 229,629 shares, compared to its average volume of 596,753. The company's 50-day simple moving average is $16.48 and its 200-day simple moving average is $15.89. The firm has a market capitalization of $917.42 million, a P/E ratio of -4.46 and a beta of 2.87. 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 posted its earnings results on Tuesday, August 5th. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.73) by $0.24. Equities analysts predict that Spyre Therapeutics, Inc. will post -4.46 earnings per share 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).