Great Point Partners LLC Takes Position in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Great Point Partners LLC bought a new position in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 134,612 shares of the company’s stock, valued at approximately $3,165,000. Great Point Partners LLC owned approximately 0.33% of Spyre Therapeutics at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Logos Global Management LP acquired a new position in shares of Spyre Therapeutics during the 2nd quarter valued at $13,518,000. Farallon Capital Management LLC bought a new position in Spyre Therapeutics during the second quarter valued at about $15,658,000. Integral Health Asset Management LLC acquired a new position in Spyre Therapeutics during the second quarter worth about $2,351,000. Avoro Capital Advisors LLC bought a new stake in Spyre Therapeutics in the second quarter worth about $43,238,000. Finally, HighVista Strategies LLC acquired a new stake in Spyre Therapeutics in the 2nd quarter valued at about $2,670,000. 80.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Spyre Therapeutics Price Performance

Spyre Therapeutics stock opened at $29.88 on Tuesday. The company 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 fifty-two week low of $8.43 and a fifty-two week high of $47.97. The firm’s 50 day simple moving average is $28.01 and its 200-day simple moving average is $31.82.

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