Intech Investment Management LLC Takes Position in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Intech Investment Management LLC purchased a new position in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 8,371 shares of the company’s stock, valued at approximately $246,000.

Other large investors have also bought and sold shares of the company. Amalgamated Bank bought a new position in shares of Spyre Therapeutics in the second quarter worth approximately $28,000. Quest Partners LLC purchased a new position in shares of Spyre Therapeutics in the second quarter valued at about $36,000. SG Americas Securities LLC purchased a new position in shares of Spyre Therapeutics in the second quarter valued at about $130,000. Carlyle Group Inc. bought a new position in shares of Spyre Therapeutics during the second quarter valued at about $227,000. Finally, Profund Advisors LLC bought a new stake in shares of Spyre Therapeutics in the second quarter worth about $296,000. 80.39% of the stock is owned by hedge funds and other institutional investors.

Spyre Therapeutics Price Performance

Shares of NASDAQ:SYRE opened at $25.55 on Friday. Spyre Therapeutics, Inc. has a 1 year low of $14.22 and a 1 year high of $47.97. The company has a market cap of $1.31 billion, a P/E ratio of -3.42 and a beta of 2.82. The stock’s fifty day moving average price is $30.94 and its 200-day moving average price is $29.59.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SYRE. Robert W. Baird upped their price target on Spyre Therapeutics from $50.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Guggenheim lifted their price target on Spyre Therapeutics from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Wedbush reiterated an “outperform” rating and issued a $45.00 price objective on shares of Spyre Therapeutics in a report on Friday, November 8th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $48.57.

Spyre Therapeutics 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).