Price T Rowe Associates Inc. MD Purchases 77,323 Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Price T Rowe Associates Inc. MD boosted its position in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 18.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 506,450 shares of the company's stock after acquiring an additional 77,323 shares during the period. Price T Rowe Associates Inc. MD owned 0.98% of Spyre Therapeutics worth $11,791,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Huntington National Bank acquired a new position in shares of Spyre Therapeutics during the 4th quarter worth about $34,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Spyre Therapeutics in the 4th quarter valued at $46,000. KLP Kapitalforvaltning AS bought a new position in Spyre Therapeutics during the fourth quarter worth about $182,000. Tower Research Capital LLC TRC increased its holdings in shares of Spyre Therapeutics by 1,548.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,574 shares of the company's stock worth $200,000 after acquiring an additional 8,054 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in Spyre Therapeutics by 38.4% in the fourth 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. 80.39% of the stock is currently owned by institutional investors and hedge funds.

Spyre Therapeutics Price Performance

SYRE stock traded down $0.13 during midday trading on Thursday, reaching $12.58. The company had a trading volume of 38,064 shares, compared to its average volume of 599,954. The company has a market capitalization of $758.27 million, a price-to-earnings ratio of -1.68 and a beta of 2.78. Spyre Therapeutics, Inc. has a 1-year low of $10.91 and a 1-year high of $40.49. The stock has a 50 day moving average price of $15.55 and a 200-day moving average price of $22.40.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.81) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.89) by $0.08. As a group, research analysts anticipate that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. The Goldman Sachs Group raised Spyre Therapeutics to a "strong-buy" rating in a research report on Tuesday, February 18th. Leerink Partners assumed coverage on Spyre Therapeutics in a research note on Tuesday, April 8th. They set an "outperform" rating and a $45.00 target price for the company. Wolfe Research initiated coverage on Spyre Therapeutics in a report on Tuesday, March 18th. They set an "outperform" rating and a $27.00 price target for the company. Wedbush reaffirmed an "outperform" rating and set a $65.00 price objective on shares of Spyre Therapeutics in a research report on Monday. Finally, Leerink Partnrs raised shares of Spyre Therapeutics to a "strong-buy" rating in a research report on Tuesday, April 8th. Eight investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Spyre Therapeutics has a consensus rating of "Buy" and a consensus price target 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).