XTX Topco Ltd Purchases Shares of 28,499 Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Key Points

• XTX Topco Ltd has acquired 28,499 shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) valued at approximately $460,000, marking a new investment during the first quarter.
• Shares of Spyre Therapeutics are down 4.5%, with the stock currently trading at $15.24, and the company has a market cap of $918.67 million.
• Analysts have a positive outlook on Spyre Therapeutics, with an average rating of "Buy" and a target price of $53.40, while Wedbush set a price objective of $65.00.

XTX Topco Ltd acquired a new position in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 28,499 shares of the company's stock, valued at approximately $460,000.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC grew 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 period. RTW Investments LP grew 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 period. Vanguard Group Inc. grew 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 period. Driehaus Capital Management LLC raised its position in shares of Spyre Therapeutics by 308.1% in the fourth quarter. Driehaus Capital Management LLC now owns 2,803,655 shares of the company's stock valued at $65,269,000 after purchasing an additional 2,116,575 shares during the period. Finally, Braidwell LP raised its position in shares of Spyre Therapeutics by 17.7% in the fourth quarter. Braidwell LP now owns 2,578,404 shares of the company's stock valued at $60,025,000 after purchasing an additional 388,568 shares during the period. Institutional investors own 80.39% of the company's stock.

Spyre Therapeutics Trading Up 2.2%

Shares of NASDAQ SYRE traded up $0.34 during midday trading on Tuesday, hitting $15.59. The company's stock had a trading volume of 33,806 shares, compared to its average volume of 615,777. The stock has a fifty day moving average price of $16.26 and a 200 day moving average price of $16.84. Spyre Therapeutics, Inc. has a one year low of $10.91 and a one year high of $40.26. The firm has a market capitalization of $941.64 million, a price-to-earnings ratio of -4.59 and a beta of 2.82.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.73) by $0.24. On average, equities research analysts predict that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wedbush reissued an "outperform" rating and issued a $65.00 price target on shares of Spyre Therapeutics in a research report on Wednesday, August 6th. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $53.40.

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).