Paradigm Biocapital Advisors LP Has $35.55 Million Stock Holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Paradigm Biocapital Advisors LP increased its position in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 20.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,527,205 shares of the company's stock after purchasing an additional 259,624 shares during the quarter. Spyre Therapeutics makes up approximately 1.2% of Paradigm Biocapital Advisors LP's holdings, making the stock its 20th biggest holding. Paradigm Biocapital Advisors LP owned approximately 2.97% of Spyre Therapeutics worth $35,553,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Barclays PLC increased its stake in shares of Spyre Therapeutics by 64.7% in the 3rd quarter. Barclays PLC now owns 105,467 shares of the company's stock valued at $3,101,000 after buying an additional 41,424 shares during the period. JPMorgan Chase & Co. grew its position in shares of Spyre Therapeutics by 29.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 29,473 shares of the company's stock worth $867,000 after buying an additional 6,701 shares during the period. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Spyre Therapeutics during the 4th quarter worth approximately $290,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Spyre Therapeutics during the 4th quarter worth approximately $46,000. Finally, Rhumbline Advisers grew its holdings in Spyre Therapeutics by 6.9% during the fourth 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 period. Institutional investors and hedge funds own 80.39% of the company's stock.

Spyre Therapeutics Trading Down 2.0%

SYRE stock traded down $0.30 during mid-day trading on Monday, hitting $14.88. The stock had a trading volume of 145,431 shares, compared to its average volume of 611,836. The firm has a fifty day simple moving average of $14.92 and a 200 day simple moving average of $21.30. Spyre Therapeutics, Inc. has a 52 week low of $10.91 and a 52 week high of $40.26. The firm has a market capitalization of $896.91 million, a P/E ratio of -1.99 and a beta of 2.78.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.74) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.02. As a group, equities analysts expect that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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