Affinity Asset Advisors LLC Acquires New Holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Affinity Asset Advisors LLC bought a new position in Spyre Therapeutics, Inc. (NASDAQ:SYRE) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 513,420 shares of the company’s stock, valued at approximately $12,071,000. Spyre Therapeutics comprises approximately 1.4% of Affinity Asset Advisors LLC’s investment portfolio, making the stock its 19th biggest position. Affinity Asset Advisors LLC owned approximately 1.27% of Spyre Therapeutics at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Avoro Capital Advisors LLC acquired a new stake in shares of Spyre Therapeutics in the second quarter worth $43,238,000. Farallon Capital Management LLC acquired a new position in Spyre Therapeutics during the 2nd quarter worth $15,658,000. Logos Global Management LP acquired a new position in Spyre Therapeutics during the 2nd quarter worth $13,518,000. First Turn Management LLC bought a new stake in Spyre Therapeutics during the second quarter valued at about $10,919,000. Finally, Great Point Partners LLC acquired a new stake in shares of Spyre Therapeutics in the second quarter valued at about $3,165,000. Institutional investors and hedge funds own 80.39% of the company’s stock.

Spyre Therapeutics Trading Down 5.8 %

Shares of Spyre Therapeutics stock opened at $28.16 on Wednesday. Spyre Therapeutics, Inc. has a twelve month low of $8.43 and a twelve month high of $47.97. The firm’s 50-day simple moving average is $27.96 and its 200-day simple moving average is $31.75.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.86) EPS for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.04. On average, equities analysts forecast that Spyre Therapeutics, Inc. will post -3.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SYRE has been the subject of several recent analyst reports. Evercore ISI began coverage on Spyre Therapeutics in a research note on Tuesday, July 16th. They set an “outperform” rating for the company. Wedbush initiated coverage on shares of Spyre Therapeutics in a research note on Wednesday, September 4th. They issued an “outperform” rating and a $45.00 price objective on the stock. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $43.43.

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).