RTW Investments LP Buys 363,636 Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE)

RTW Investments LP increased its holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 11.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,621,996 shares of the company's stock after buying an additional 363,636 shares during the period. Spyre Therapeutics comprises approximately 1.3% of RTW Investments LP's investment portfolio, making the stock its 26th biggest holding. RTW Investments LP owned about 7.04% of Spyre Therapeutics worth $84,320,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Rafferty Asset Management LLC increased its position in shares of Spyre Therapeutics by 8.7% during the fourth quarter. Rafferty Asset Management LLC now owns 76,740 shares of the company's stock worth $1,787,000 after purchasing an additional 6,154 shares in the last quarter. Polar Capital Holdings Plc grew its stake in shares of Spyre Therapeutics by 50.0% during the fourth quarter. Polar Capital Holdings Plc now owns 750,000 shares of the company's stock worth $17,460,000 after acquiring an additional 250,000 shares during the last quarter. ProShare Advisors LLC acquired a new position in shares of Spyre Therapeutics during the fourth quarter valued at about $292,000. Prosight Management LP purchased a new position in shares of Spyre Therapeutics in the 4th quarter valued at approximately $1,862,000. Finally, Paradigm Biocapital Advisors LP boosted its stake in Spyre Therapeutics by 20.5% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 1,527,205 shares of the company's stock worth $35,553,000 after purchasing an additional 259,624 shares in the last quarter. Institutional investors own 80.39% of the company's stock.

Wall Street Analyst Weigh In

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

Spyre Therapeutics Price Performance

Shares of SYRE traded down $0.63 during midday trading on Wednesday, hitting $14.77. The stock had a trading volume of 95,383 shares, compared to its average volume of 610,947. Spyre Therapeutics, Inc. has a twelve month low of $10.91 and a twelve month high of $40.26. The firm has a market cap of $890.34 million, a price-to-earnings ratio of -1.99 and a beta of 2.78. The company has a 50 day simple moving average of $14.79 and a two-hundred day simple moving average of $21.13.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.74) EPS for the quarter, topping analysts' consensus estimates of ($0.76) by $0.02. Analysts forecast that Spyre Therapeutics, Inc. will post -4.46 EPS for the current fiscal 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).