Jefferies Financial Group Inc. Buys 762,147 Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Jefferies Financial Group Inc. increased its holdings in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 167.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,216,954 shares of the company's stock after purchasing an additional 762,147 shares during the period. Jefferies Financial Group Inc. owned 2.37% of Spyre Therapeutics worth $28,331,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Deutsche Bank AG boosted its position in shares of Spyre Therapeutics by 46.1% in the fourth quarter. Deutsche Bank AG now owns 31,418 shares of the company's stock worth $731,000 after buying an additional 9,910 shares during the period. Deerfield Management Company L.P. Series C purchased a new position in Spyre Therapeutics in the fourth quarter valued at about $10,476,000. Driehaus Capital Management LLC grew its stake in Spyre Therapeutics by 308.1% during the 4th 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 in the last quarter. Braidwell LP increased its holdings in 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 purchasing an additional 388,568 shares during the last quarter. Finally, Brevan Howard Capital Management LP acquired a new position in shares of Spyre Therapeutics in the 4th quarter valued at approximately $393,000. 80.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on SYRE shares. Wedbush restated an "outperform" rating and issued a $65.00 price target on shares of Spyre Therapeutics in a research note on Monday, May 5th. The Goldman Sachs Group raised shares of Spyre Therapeutics to a "strong-buy" rating in a research report on Tuesday, February 18th. Leerink Partners began coverage on Spyre Therapeutics in a report on Tuesday, April 8th. They issued an "outperform" rating and a $45.00 price objective for the company. Leerink Partnrs upgraded Spyre Therapeutics to a "strong-buy" rating in a research note on Tuesday, April 8th. Finally, Wolfe Research assumed coverage on Spyre Therapeutics in a report on Tuesday, March 18th. They set an "outperform" rating and a $27.00 target price on the stock. Six 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.com, the company presently has a consensus rating of "Buy" and an average price target of $53.40.

Spyre Therapeutics Stock Performance

SYRE traded down $0.22 during trading on Wednesday, reaching $14.54. The company had a trading volume of 32,101 shares, compared to its average volume of 607,437. The firm's 50-day simple moving average is $15.16 and its 200 day simple moving average is $21.78. The company has a market cap of $876.11 million, a price-to-earnings ratio of -1.94 and a beta of 2.78. Spyre Therapeutics, Inc. has a 12-month low of $10.91 and a 12-month high of $40.49.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.74) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.02. On average, sell-side analysts expect that Spyre Therapeutics, Inc. will post -4.46 EPS 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).