Prosight Management LP Invests $1.86 Million in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Prosight Management LP bought a new position in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 80,000 shares of the company's stock, valued at approximately $1,862,000. Spyre Therapeutics accounts for 0.5% of Prosight Management LP's holdings, making the stock its 29th largest holding. Prosight Management LP owned approximately 0.16% of Spyre Therapeutics as of its most recent SEC filing.

A number of other large investors have also modified their holdings of SYRE. FMR LLC raised its stake in shares of Spyre Therapeutics by 15.4% during the fourth quarter. FMR LLC now owns 8,801,266 shares of the company's stock valued at $204,893,000 after purchasing an additional 1,177,385 shares during the period. Vanguard Group Inc. lifted its holdings in Spyre Therapeutics by 13.1% in the 4th quarter. Vanguard Group Inc. now owns 2,846,473 shares of the company's stock worth $66,266,000 after buying an additional 330,553 shares in the last quarter. Driehaus Capital Management LLC boosted its position in Spyre Therapeutics by 308.1% in the 4th quarter. Driehaus Capital Management LLC now owns 2,803,655 shares of the company's stock valued at $65,269,000 after buying an additional 2,116,575 shares during the last quarter. Braidwell LP boosted its position in Spyre Therapeutics by 17.7% in the 4th quarter. Braidwell LP now owns 2,578,404 shares of the company's stock valued at $60,025,000 after buying an additional 388,568 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Spyre Therapeutics by 6.5% during the fourth quarter. Wellington Management Group LLP now owns 1,604,508 shares of the company's stock valued at $37,353,000 after acquiring an additional 97,308 shares in the last quarter. Institutional investors and hedge funds own 80.39% of the company's stock.

Spyre Therapeutics Stock Up 1.5%

Spyre Therapeutics stock traded up $0.23 during mid-day trading on Tuesday, hitting $15.11. 85,939 shares of the company's stock traded hands, compared to its average volume of 654,021. The company has a market cap of $910.59 million, a PE ratio of -2.03 and a beta of 2.78. The firm has a 50 day moving average price of $14.84 and a 200 day moving average price of $21.17. Spyre Therapeutics, Inc. has a one year low of $10.91 and a one year high of $40.26.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.74) earnings per share for the quarter, topping analysts' consensus estimates of ($0.76) by $0.02. On average, analysts expect that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on SYRE. The Goldman Sachs Group upgraded Spyre Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 18th. Leerink Partners began coverage on shares of Spyre Therapeutics in a research report on Tuesday, April 8th. They set an "outperform" rating and a $45.00 price target for the company. Wolfe Research initiated coverage on shares of Spyre Therapeutics in a report on Tuesday, March 18th. They issued an "outperform" rating and a $27.00 price target on the stock. Wedbush reiterated an "outperform" rating and set a $65.00 price objective on shares of Spyre Therapeutics in a research note on Monday, May 5th. Finally, Leerink Partnrs raised shares of Spyre Therapeutics to a "strong-buy" rating in a research report on Tuesday, April 8th. Six 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 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).