Spyre Therapeutics, Inc. (NASDAQ:SYRE) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 103,688 shares of the company’s stock after selling 1,118 shares during the quarter. Bank of New York Mellon Corp’s holdings in Spyre Therapeutics were worth $2,414,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Spyre Therapeutics during the fourth quarter valued at approximately $46,000. Quest Partners LLC raised its stake in Spyre Therapeutics by 271.2% during the third quarter. Quest Partners LLC now owns 5,654 shares of the company’s stock valued at $166,000 after buying an additional 4,131 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Spyre Therapeutics during the third quarter valued at approximately $246,000. China Universal Asset Management Co. Ltd. acquired a new stake in Spyre Therapeutics during the fourth quarter valued at approximately $290,000. Finally, MetLife Investment Management LLC raised its stake in Spyre Therapeutics by 129.1% during the third quarter. MetLife Investment Management LLC now owns 20,132 shares of the company’s stock valued at $592,000 after buying an additional 11,344 shares in the last quarter. Institutional investors and hedge funds own 80.39% of the company’s stock.

Spyre Therapeutics Stock Performance

NASDAQ SYRE opened at $18.17 on Friday. The firm has a 50-day simple moving average of $20.85 and a 200 day simple moving average of $25.94. Spyre Therapeutics, Inc. has a twelve month low of $17.24 and a twelve month high of $43.00. The stock has a market cap of $1.09 billion, a PE ratio of -2.43 and a beta of 2.98.

Spyre Therapeutics (NASDAQ:SYRE) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.81) EPS for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.08. Research analysts forecast that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SYRE shares. Wedbush reaffirmed an “outperform” rating and set a $65.00 target price on shares of Spyre Therapeutics in a report on Monday, January 13th. The Goldman Sachs Group raised Spyre Therapeutics to a “strong-buy” rating in a report on Tuesday, February 18th. Finally, Wolfe Research started coverage on Spyre Therapeutics in a report on Tuesday. They set an “outperform” rating and a $27.00 target price for the company. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Spyre Therapeutics currently has an average rating of “Buy” and an average target price of $50.86.

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).