687,080 Shares in Spyre Therapeutics, Inc. (NASDAQ:SYRE) Bought by Driehaus Capital Management LLC

Driehaus Capital Management LLC acquired a new position in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 687,080 shares of the company’s stock, valued at approximately $16,153,000. Driehaus Capital Management LLC owned 1.71% of Spyre Therapeutics at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Amalgamated Bank acquired a new position in Spyre Therapeutics during the second quarter worth $28,000. Quest Partners LLC purchased a new stake in Spyre Therapeutics during the second quarter worth $36,000. SG Americas Securities LLC purchased a new stake in Spyre Therapeutics during the second quarter worth $130,000. Carlyle Group Inc. purchased a new stake in Spyre Therapeutics during the second quarter worth $227,000. Finally, Profund Advisors LLC purchased a new stake in Spyre Therapeutics during the second quarter worth $296,000. Institutional investors and hedge funds own 80.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on SYRE shares. Wedbush started coverage on Spyre Therapeutics in a research report on Wednesday, September 4th. They set an “outperform” rating and a $45.00 target price on the stock. Evercore ISI started coverage on Spyre Therapeutics in a research report on Tuesday, July 16th. They set an “outperform” rating on the stock. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, Spyre Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $43.43.

Spyre Therapeutics Stock Down 2.0 %

Shares of NASDAQ:SYRE opened at $28.49 on Friday. Spyre Therapeutics, Inc. has a 52-week low of $8.43 and a 52-week high of $47.97. The stock’s fifty day simple moving average is $27.85 and its 200-day simple moving average is $31.55. The company has a market capitalization of $1.15 billion, a P/E ratio of -0.40 and a beta of 2.92.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings data 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, sell-side analysts anticipate that Spyre Therapeutics, Inc. will post -3.68 earnings per share for the current 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).