Polar Capital Holdings Plc Increases Stock Holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Polar Capital Holdings Plc increased its stake in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 50.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 750,000 shares of the company's stock after buying an additional 250,000 shares during the period. Polar Capital Holdings Plc owned about 1.46% of Spyre Therapeutics worth $17,460,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Huntington National Bank bought a new position in shares of Spyre Therapeutics in the fourth quarter valued at approximately $34,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Spyre Therapeutics in the fourth quarter valued at $46,000. KLP Kapitalforvaltning AS bought a new stake in shares of Spyre Therapeutics during the 4th quarter valued at $182,000. Tower Research Capital LLC TRC boosted its holdings in shares of Spyre Therapeutics by 1,548.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,574 shares of the company's stock valued at $200,000 after buying an additional 8,054 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in shares of Spyre Therapeutics by 38.4% during the 4th quarter. Arizona State Retirement System now owns 10,115 shares of the company's stock valued at $235,000 after buying an additional 2,805 shares in the last quarter. Hedge funds and other institutional investors own 80.39% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on SYRE. Leerink Partnrs upgraded shares of Spyre Therapeutics to a "strong-buy" rating in a research note on Tuesday, April 8th. Leerink Partners initiated coverage on shares of Spyre Therapeutics in a report on Tuesday, April 8th. They issued an "outperform" rating and a $45.00 target price for the company. Wedbush reissued an "outperform" rating and issued a $65.00 target price on shares of Spyre Therapeutics in a report on Monday, May 5th. The Goldman Sachs Group upgraded Spyre Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 18th. Finally, Wolfe Research initiated coverage on Spyre Therapeutics in a research note on Tuesday, March 18th. They issued an "outperform" rating and a $27.00 price target for the company. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $53.40.

Spyre Therapeutics Trading Down 1.1%

Shares of Spyre Therapeutics stock traded down $0.17 during trading on Wednesday, hitting $15.23. 78,449 shares of the stock traded hands, compared to its average volume of 610,855. The firm has a market cap of $918.24 million, a P/E ratio of -2.04 and a beta of 2.78. Spyre Therapeutics, Inc. has a 52-week low of $10.91 and a 52-week high of $40.26. The stock's fifty day simple moving average is $14.79 and its 200 day simple moving average is $21.13.

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