Invesco Ltd. Reduces Stock Holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Invesco Ltd. cut its holdings in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 85.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,663 shares of the company's stock after selling 118,195 shares during the period. Invesco Ltd.'s holdings in Spyre Therapeutics were worth $458,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Huntington National Bank bought a new stake in shares of Spyre Therapeutics during the 4th quarter valued at $34,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Spyre Therapeutics during the fourth quarter valued at $46,000. Arizona State Retirement System increased its stake in Spyre Therapeutics by 38.4% during the fourth quarter. Arizona State Retirement System now owns 10,115 shares of the company's stock worth $235,000 after acquiring an additional 2,805 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Spyre Therapeutics by 6.9% in the 4th quarter. Rhumbline Advisers now owns 57,657 shares of the company's stock valued at $1,342,000 after purchasing an additional 3,722 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Spyre Therapeutics by 19.6% during the 4th quarter. JPMorgan Chase & Co. now owns 35,248 shares of the company's stock valued at $821,000 after buying an additional 5,775 shares during the period. Institutional investors own 80.39% of the company's stock.

Spyre Therapeutics Stock Up 12.3 %

NASDAQ SYRE traded up $1.58 on Friday, hitting $14.44. 239,894 shares of the stock were exchanged, compared to its average volume of 601,394. The company has a market cap of $870.39 million, a PE ratio of -1.93 and a beta of 2.78. Spyre Therapeutics, Inc. has a fifty-two week low of $10.91 and a fifty-two week high of $40.49. The company has a 50-day moving average price of $15.45 and a 200-day moving average price of $22.27.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last issued 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, equities research analysts predict that Spyre Therapeutics, Inc. will post -4.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SYRE shares. Wedbush reiterated an "outperform" rating and set a $65.00 price target on shares of Spyre Therapeutics in a report on Monday. Leerink Partners began coverage on shares of Spyre Therapeutics in a research note on Tuesday, April 8th. They issued an "outperform" rating and a $45.00 price target on the stock. The Goldman Sachs Group raised shares of Spyre Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 18th. Leerink Partnrs upgraded shares of Spyre Therapeutics to a "strong-buy" rating in a report on Tuesday, April 8th. Finally, Wolfe Research initiated coverage on shares of Spyre Therapeutics in a report on Tuesday, March 18th. They set an "outperform" rating and a $27.00 price objective on the stock. Eight equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $49.57.

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).