Emerald Mutual Fund Advisers Trust Buys 132,834 Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Emerald Mutual Fund Advisers Trust raised its stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 52.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 386,384 shares of the company's stock after buying an additional 132,834 shares during the period. Emerald Mutual Fund Advisers Trust owned approximately 0.75% of Spyre Therapeutics worth $8,995,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Barclays PLC lifted its holdings in shares of Spyre Therapeutics by 64.7% during the third quarter. Barclays PLC now owns 105,467 shares of the company's stock valued at $3,101,000 after purchasing an additional 41,424 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in Spyre Therapeutics during the fourth quarter valued at about $290,000. Victory Capital Management Inc. acquired a new position in shares of Spyre Therapeutics in the fourth quarter worth about $6,241,000. Jane Street Group LLC increased its position in shares of Spyre Therapeutics by 78.7% in the third quarter. Jane Street Group LLC now owns 20,641 shares of the company's stock worth $607,000 after acquiring an additional 9,090 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Spyre Therapeutics by 19.6% during the fourth quarter. JPMorgan Chase & Co. now owns 35,248 shares of the company's stock valued at $821,000 after acquiring an additional 5,775 shares during the period. Institutional investors and hedge funds own 80.39% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Wolfe Research started coverage on shares of Spyre Therapeutics in a research note on Tuesday, March 18th. They issued an "outperform" rating and a $27.00 price objective for the company. Wedbush reissued an "outperform" rating and set a $65.00 price target on shares of Spyre Therapeutics in a research report on Monday, January 13th. The Goldman Sachs Group upgraded Spyre Therapeutics to a "strong-buy" rating in a report on Tuesday, February 18th. Leerink Partners started coverage on shares of Spyre Therapeutics in a research report on Tuesday, April 8th. They set an "outperform" rating and a $45.00 price objective on the stock. Finally, Leerink Partnrs raised shares of Spyre Therapeutics to a "strong-buy" rating in a research note on Tuesday, April 8th. Eight investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $49.57.

Spyre Therapeutics Stock Up 3.1 %

Shares of NASDAQ:SYRE traded up $0.45 on Friday, reaching $15.11. The company had a trading volume of 499,924 shares, compared to its average volume of 601,059. The stock has a market capitalization of $910.77 million, a P/E ratio of -2.02 and a beta of 2.78. The stock has a 50-day moving average price of $15.91 and a 200 day moving average price of $22.67. Spyre Therapeutics, Inc. has a twelve month low of $10.91 and a twelve month high of $40.49.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.08. On average, sell-side analysts predict that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current fiscal year.

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).