Farallon Capital Management LLC Buys Shares of 666,000 Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Farallon Capital Management LLC purchased a new position in Spyre Therapeutics, Inc. (NASDAQ:SYRE) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 666,000 shares of the company’s stock, valued at approximately $15,658,000. Farallon Capital Management LLC owned 1.65% of Spyre Therapeutics as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in Spyre Therapeutics during the 2nd quarter valued at $130,000. EFG Asset Management North America Corp. bought a new position in shares of Spyre Therapeutics during the 2nd quarter worth about $869,000. Bank of New York Mellon Corp acquired a new position in shares of Spyre Therapeutics during the second quarter valued at about $2,767,000. Rhumbline Advisers acquired a new position in shares of Spyre Therapeutics during the second quarter valued at about $1,220,000. Finally, TD Asset Management Inc bought a new stake in shares of Spyre Therapeutics in the second quarter valued at about $827,000. 80.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Spyre Therapeutics Stock Performance

NASDAQ:SYRE opened at $29.88 on Tuesday. The stock’s fifty day moving average price is $28.01 and its two-hundred day moving average price is $31.82. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -0.42 and a beta of 2.92. Spyre Therapeutics, Inc. has a 52-week low of $8.43 and a 52-week high of $47.97.

Spyre Therapeutics (NASDAQ:SYRE) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.86) earnings per share for the quarter, topping the consensus estimate of ($0.90) by $0.04. On average, equities analysts predict that Spyre Therapeutics, Inc. will post -3.68 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).