Spyre Therapeutics, Inc. (NASDAQ:SYRE) Shares Bought by Driehaus Capital Management LLC

Driehaus Capital Management LLC boosted its stake in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 308.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,803,655 shares of the company's stock after purchasing an additional 2,116,575 shares during the quarter. Driehaus Capital Management LLC owned about 5.45% of Spyre Therapeutics worth $65,269,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYRE. MetLife Investment Management LLC boosted its holdings in Spyre Therapeutics by 6.2% in the fourth quarter. MetLife Investment Management LLC now owns 21,382 shares of the company's stock valued at $498,000 after acquiring an additional 1,250 shares during the last quarter. Huntington National Bank acquired a new position in shares of Spyre Therapeutics during the fourth quarter worth approximately $34,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Spyre Therapeutics during the fourth quarter worth approximately $46,000. Arizona State Retirement System raised its position in shares of Spyre Therapeutics by 38.4% during the fourth quarter. Arizona State Retirement System now owns 10,115 shares of the company's stock worth $235,000 after purchasing an additional 2,805 shares during the period. Finally, Rhumbline Advisers raised its position in Spyre Therapeutics by 6.9% in the 4th quarter. Rhumbline Advisers now owns 57,657 shares of the company's stock valued at $1,342,000 after buying an additional 3,722 shares during the last quarter. 80.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SYRE. Wedbush reaffirmed an "outperform" rating and set a $65.00 target price on shares of Spyre Therapeutics in a research report on Monday, May 5th. The Goldman Sachs Group raised Spyre Therapeutics to a "strong-buy" rating in a research report on Tuesday, February 18th. Leerink Partnrs raised Spyre Therapeutics to a "strong-buy" rating in a research report on Tuesday, April 8th. Leerink Partners assumed coverage on Spyre Therapeutics in a research note on Tuesday, April 8th. They set an "outperform" rating and a $45.00 price target for the company. Finally, Wolfe Research assumed coverage on Spyre Therapeutics in a research note on Tuesday, March 18th. They set an "outperform" rating and a $27.00 price target for the company. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $51.17.

Spyre Therapeutics Stock Performance

SYRE traded down $0.30 during trading on Tuesday, hitting $14.63. 647,926 shares of the stock were exchanged, compared to its average volume of 606,783. The firm has a 50 day simple moving average of $15.28 and a 200 day simple moving average of $21.83. The firm has a market cap of $881.84 million, a price-to-earnings ratio of -1.96 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.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last posted its quarterly earnings data 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. As a group, equities analysts anticipate that Spyre Therapeutics, Inc. will post -4.46 earnings per share 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).