Swiss National Bank Boosts Stock Position in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Swiss National Bank increased its stake in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 38.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 68,600 shares of the company’s stock after buying an additional 19,000 shares during the period. Swiss National Bank’s holdings in Spyre Therapeutics were worth $1,597,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SYRE. FMR LLC increased its holdings in Spyre Therapeutics by 1.5% in the 3rd quarter. FMR LLC now owns 7,623,881 shares of the company’s stock worth $224,218,000 after acquiring an additional 115,898 shares during the last quarter. State Street Corp boosted its position in Spyre Therapeutics by 9.4% during the third quarter. State Street Corp now owns 1,541,555 shares of the company’s stock worth $45,337,000 after purchasing an additional 131,896 shares during the period. Wellington Management Group LLP increased its stake in shares of Spyre Therapeutics by 89.4% in the third quarter. Wellington Management Group LLP now owns 1,507,200 shares of the company’s stock worth $44,327,000 after purchasing an additional 711,254 shares in the last quarter. Janus Henderson Group PLC grew its stake in Spyre Therapeutics by 66.3% in the 3rd quarter. Janus Henderson Group PLC now owns 1,120,531 shares of the company’s stock valued at $32,921,000 after buying an additional 446,664 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Spyre Therapeutics by 16.4% during the 3rd quarter. Geode Capital Management LLC now owns 891,048 shares of the company’s stock valued at $26,211,000 after purchasing an additional 125,214 shares during the period. Institutional investors own 80.39% of the company’s stock.

Spyre Therapeutics Price Performance

Shares of SYRE opened at $17.94 on Friday. The firm has a market cap of $1.08 billion, a P/E ratio of -2.40 and a beta of 2.98. Spyre Therapeutics, Inc. has a 1 year low of $16.71 and a 1 year high of $40.84. The stock has a 50 day simple moving average of $20.54 and a two-hundred day simple moving average of $25.59.

Spyre Therapeutics (NASDAQ:SYRE) last issued its 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. On average, equities analysts anticipate that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

SYRE has been the topic of a number of analyst reports. Wolfe Research initiated coverage on shares of Spyre Therapeutics in a report on Tuesday, March 18th. They set an “outperform” rating and a $27.00 target price on the stock. The Goldman Sachs Group upgraded Spyre Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 18th. Finally, Wedbush reissued an “outperform” rating and set a $65.00 price objective on shares of Spyre Therapeutics in a report on Monday, January 13th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $50.33.

Spyre Therapeutics Company 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).