Assenagon Asset Management S.A. Has $527,000 Stock Holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Assenagon Asset Management S.A. decreased its holdings in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 98.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,652 shares of the company’s stock after selling 1,120,116 shares during the period. Assenagon Asset Management S.A.’s holdings in Spyre Therapeutics were worth $527,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its stake in Spyre Therapeutics by 89.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,507,200 shares of the company’s stock valued at $44,327,000 after buying an additional 711,254 shares in the last quarter. Driehaus Capital Management LLC bought a new position in shares of Spyre Therapeutics during the second quarter valued at $16,153,000. Perceptive Advisors LLC boosted its stake in shares of Spyre Therapeutics by 18.6% in the 2nd quarter. Perceptive Advisors LLC now owns 3,031,018 shares of the company’s stock valued at $71,259,000 after purchasing an additional 474,339 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Spyre Therapeutics by 66.3% in the 3rd quarter. Janus Henderson Group PLC now owns 1,120,531 shares of the company’s stock worth $32,921,000 after purchasing an additional 446,664 shares during the last quarter. Finally, Ikarian Capital LLC acquired a new stake in shares of Spyre Therapeutics during the 3rd quarter worth about $8,889,000. 80.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on SYRE. Guggenheim upped their price objective on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Wedbush restated an “outperform” rating and set a $65.00 price target on shares of Spyre Therapeutics in a research report on Monday, January 13th. Finally, Robert W. Baird lifted their price objective on Spyre Therapeutics from $50.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Spyre Therapeutics has an average rating of “Buy” and a consensus price target of $54.83.

Spyre Therapeutics Stock Performance

NASDAQ:SYRE opened at $21.60 on Friday. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -2.89 and a beta of 2.86. The stock’s fifty day moving average price is $24.57 and its two-hundred day moving average price is $27.90. Spyre Therapeutics, Inc. has a 52-week low of $20.07 and a 52-week high of $47.97.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.56). On average, equities analysts predict that Spyre Therapeutics, Inc. will post -4.46 EPS for the current fiscal year.

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).