Avoro Capital Advisors LLC Purchases Shares of 1,839,138 Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Avoro Capital Advisors LLC bought a new position in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,839,138 shares of the company’s stock, valued at approximately $43,238,000. Spyre Therapeutics makes up 0.6% of Avoro Capital Advisors LLC’s investment portfolio, making the stock its 29th biggest position. Avoro Capital Advisors LLC owned approximately 4.57% of Spyre Therapeutics at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SYRE. Amalgamated Bank bought a new stake in Spyre Therapeutics in the 2nd quarter worth approximately $28,000. Quest Partners LLC purchased a new position in shares of Spyre Therapeutics in the 2nd quarter worth $36,000. SG Americas Securities LLC bought a new stake in shares of Spyre Therapeutics in the 2nd quarter worth about $130,000. Carlyle Group Inc. bought a new stake in shares of Spyre Therapeutics in the 2nd quarter worth about $227,000. Finally, Profund Advisors LLC purchased a new stake in shares of Spyre Therapeutics during the 2nd quarter valued at about $296,000. Institutional investors own 80.39% of the company’s stock.

Spyre Therapeutics Stock Down 0.8 %

Shares of NASDAQ:SYRE opened at $30.17 on Monday. The business’s 50 day moving average is $27.99 and its 200 day moving average is $31.89. The stock has a market cap of $1.22 billion, a P/E ratio of -0.42 and a beta of 2.92. Spyre Therapeutics, Inc. has a 52-week low of $8.43 and a 52-week high of $47.97.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.86) EPS for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.04. On average, sell-side analysts anticipate that Spyre Therapeutics, Inc. will post -3.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on SYRE. Wedbush began coverage on Spyre Therapeutics in a research report on Wednesday, September 4th. They issued an “outperform” rating and a $45.00 price target for the company. Evercore ISI started coverage on Spyre Therapeutics in a report on Tuesday, July 16th. They issued an “outperform” rating for the company. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $43.43.

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).