Spyre Therapeutics, Inc. (NASDAQ:SYRE) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System boosted its stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 38.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,115 shares of the company’s stock after buying an additional 2,805 shares during the quarter. Arizona State Retirement System’s holdings in Spyre Therapeutics were worth $235,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Spyre Therapeutics during the fourth quarter worth $46,000. Quest Partners LLC boosted its stake in Spyre Therapeutics by 271.2% during the third quarter. Quest Partners LLC now owns 5,654 shares of the company’s stock worth $166,000 after buying an additional 4,131 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Spyre Therapeutics during the third quarter valued at about $246,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Spyre Therapeutics during the 4th quarter worth approximately $290,000. Finally, MetLife Investment Management LLC grew its stake in shares of Spyre Therapeutics by 129.1% in the third quarter. MetLife Investment Management LLC now owns 20,132 shares of the company’s stock valued at $592,000 after buying an additional 11,344 shares in the last quarter. Institutional investors and hedge funds own 80.39% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on SYRE. The Goldman Sachs Group raised Spyre Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 18th. Wedbush reiterated an “outperform” rating and set a $65.00 price target on shares of Spyre Therapeutics in a research note on Monday, January 13th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $54.83.

Spyre Therapeutics Stock Performance

Shares of NASDAQ:SYRE opened at $18.04 on Friday. Spyre Therapeutics, Inc. has a one year low of $17.24 and a one year high of $47.97. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -2.41 and a beta of 2.98. The company has a 50-day simple moving average of $21.41 and a 200-day simple moving average of $26.28.

Spyre Therapeutics (NASDAQ:SYRE) last released its earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.08. As a group, research analysts forecast that Spyre Therapeutics, Inc. will post -4.46 EPS for the current fiscal year.

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).