575,000 Shares in Spyre Therapeutics, Inc. (NASDAQ:SYRE) Bought by Logos Global Management LP

Logos Global Management LP purchased a new position in Spyre Therapeutics, Inc. (NASDAQ:SYRE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 575,000 shares of the company’s stock, valued at approximately $13,518,000. Spyre Therapeutics comprises approximately 1.1% of Logos Global Management LP’s holdings, making the stock its 26th biggest position. Logos Global Management LP owned about 1.43% of Spyre Therapeutics as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of SYRE. Amalgamated Bank bought a new stake in Spyre Therapeutics in the second quarter worth $28,000. Quest Partners LLC bought a new stake in Spyre Therapeutics in the second quarter worth $36,000. SG Americas Securities LLC bought a new stake in Spyre Therapeutics in the second quarter worth $130,000. Carlyle Group Inc. bought a new stake in shares of Spyre Therapeutics during the second quarter worth $227,000. Finally, Profund Advisors LLC bought a new stake in shares of Spyre Therapeutics during the second quarter worth $296,000. 80.39% of the stock is currently owned by institutional investors.

Spyre Therapeutics Trading Down 1.0 %

Shares of Spyre Therapeutics stock opened at $29.88 on Tuesday. The firm has a market cap of $1.20 billion, a P/E ratio of -0.42 and a beta of 2.92. Spyre Therapeutics, Inc. has a 12 month low of $8.43 and a 12 month high of $47.97. The stock’s fifty day moving average price is $28.01 and its 200-day moving average price is $31.82.

Spyre Therapeutics (NASDAQ:SYRE) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.86) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.04. Analysts forecast that Spyre Therapeutics, Inc. will post -3.68 earnings per share for the current year.

Analyst Ratings Changes

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

Spyre Therapeutics Company 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).