JPMorgan Chase & Co. Has $867,000 Stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

JPMorgan Chase & Co. boosted its holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 29.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,473 shares of the company’s stock after acquiring an additional 6,701 shares during the period. JPMorgan Chase & Co. owned 0.06% of Spyre Therapeutics worth $867,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Amalgamated Bank acquired a new stake in Spyre Therapeutics in the 2nd quarter worth about $28,000. Quest Partners LLC increased its holdings in shares of 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 purchasing an additional 4,131 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Spyre Therapeutics in the third quarter valued at approximately $246,000. SG Americas Securities LLC boosted its stake in shares of Spyre Therapeutics by 127.0% in the third quarter. SG Americas Securities LLC now owns 12,589 shares of the company’s stock valued at $370,000 after buying an additional 7,044 shares during the period. Finally, Profund Advisors LLC acquired a new stake in Spyre Therapeutics during the second quarter worth approximately $296,000. Institutional investors and hedge funds own 80.39% of the company’s stock.

Spyre Therapeutics Stock Down 1.0 %

NASDAQ SYRE opened at $21.60 on Friday. The company’s 50 day moving average is $24.57 and its 200-day moving average is $27.90. The firm has a market cap of $1.11 billion, a P/E ratio of -2.89 and a beta of 2.86. Spyre Therapeutics, Inc. has a 12-month low of $20.07 and a 12-month high of $47.97.

Spyre Therapeutics (NASDAQ:SYRE) last issued its earnings results on Thursday, November 7th. The company reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.56). Equities analysts expect that Spyre Therapeutics, Inc. will post -4.46 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on SYRE. Robert W. Baird increased their target price on Spyre Therapeutics from $50.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Wedbush reiterated an “outperform” rating and set a $65.00 price objective on shares of Spyre Therapeutics in a research note on Monday, January 13th. Finally, Guggenheim raised their target price on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the company a “buy” rating in a report on Friday, October 25th. Seven investment 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 $54.83.

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).