Rhumbline Advisers Boosts Holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Rhumbline Advisers raised its position in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 6.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,657 shares of the company’s stock after acquiring an additional 3,722 shares during the period. Rhumbline Advisers owned approximately 0.11% of Spyre Therapeutics worth $1,342,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in SYRE. Mirae Asset Global Investments Co. Ltd. bought a new position in Spyre Therapeutics during the 4th quarter valued at about $46,000. Quest Partners LLC boosted its position in shares of Spyre Therapeutics by 271.2% during the third quarter. Quest Partners LLC now owns 5,654 shares of the company’s stock valued at $166,000 after buying an additional 4,131 shares during the period. Intech Investment Management LLC bought a new position in shares of Spyre Therapeutics during the third quarter valued at approximately $246,000. China Universal Asset Management Co. Ltd. bought a new position in Spyre Therapeutics in the 4th quarter valued at $290,000. Finally, MetLife Investment Management LLC increased its stake in Spyre Therapeutics by 129.1% in the third quarter. MetLife Investment Management LLC now owns 20,132 shares of the company’s stock worth $592,000 after purchasing an additional 11,344 shares during the period. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group raised shares of Spyre Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 18th. Robert W. Baird boosted their price objective on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, Wedbush reaffirmed an “outperform” rating and set a $65.00 target price on shares of Spyre Therapeutics in a research report on Monday, January 13th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $54.83.

Spyre Therapeutics Stock Performance

NASDAQ SYRE opened at $19.47 on Thursday. Spyre Therapeutics, Inc. has a one year low of $17.24 and a one year high of $47.97. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -2.61 and a beta of 2.98. The company’s 50-day simple moving average is $22.15 and its two-hundred day simple moving average is $26.71.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.81) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $0.08. Equities analysts expect that Spyre Therapeutics, Inc. will post -4.46 earnings per share 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).