Soros Fund Management LLC Acquires 105,000 Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Soros Fund Management LLC increased its position in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 72.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 250,000 shares of the company's stock after purchasing an additional 105,000 shares during the quarter. Soros Fund Management LLC owned approximately 0.49% of Spyre Therapeutics worth $5,820,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Spyre Therapeutics by 15.4% during the 4th quarter. FMR LLC now owns 8,801,266 shares of the company's stock worth $204,893,000 after buying an additional 1,177,385 shares during the period. Vanguard Group Inc. grew its holdings in Spyre Therapeutics by 13.1% during the 4th quarter. Vanguard Group Inc. now owns 2,846,473 shares of the company's stock worth $66,266,000 after acquiring an additional 330,553 shares during the period. Wellington Management Group LLP raised its position in shares of Spyre Therapeutics by 6.5% during the 4th 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 during the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of Spyre Therapeutics by 32.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,092,124 shares of the company's stock valued at $25,425,000 after purchasing an additional 266,418 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Spyre Therapeutics by 8.4% in the 4th quarter. Geode Capital Management LLC now owns 966,129 shares of the company's stock worth $22,498,000 after purchasing an additional 75,081 shares during the last quarter. 80.39% of the stock is owned by institutional investors.

Spyre Therapeutics Price Performance

SYRE stock traded up $0.45 during trading hours on Friday, reaching $15.11. 499,924 shares of the stock were exchanged, compared to its average volume of 599,441. The firm's 50-day moving average is $15.91 and its 200-day moving average is $22.81. Spyre Therapeutics, Inc. has a 12 month low of $10.91 and a 12 month high of $40.49. The company has a market cap of $910.77 million, a price-to-earnings ratio of -2.02 and a beta of 3.05.

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wolfe Research began coverage on Spyre Therapeutics in a research note on Tuesday, March 18th. They issued an "outperform" rating and a $27.00 target price on the stock. The Goldman Sachs Group upgraded shares of Spyre Therapeutics to a "strong-buy" rating in a report on Tuesday, February 18th. Leerink Partners began coverage on shares of Spyre Therapeutics in a report on Tuesday, April 8th. They issued an "outperform" rating and a $45.00 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 note on Monday, January 13th. Finally, Leerink Partnrs raised Spyre Therapeutics to a "strong-buy" rating in a research note on Tuesday, April 8th. Eight analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price 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).