Fmr LLC Acquires 115,898 Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Fmr LLC grew its holdings in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 1.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,623,881 shares of the company’s stock after buying an additional 115,898 shares during the quarter. Fmr LLC owned 14.82% of Spyre Therapeutics worth $224,218,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Driehaus Capital Management LLC bought a new stake in Spyre Therapeutics during the second quarter worth approximately $16,153,000. Ensign Peak Advisors Inc bought a new position in shares of Spyre Therapeutics during the 2nd quarter valued at approximately $1,939,000. Bank of New York Mellon Corp purchased a new stake in Spyre Therapeutics during the 2nd quarter valued at $2,767,000. Rhumbline Advisers bought a new stake in Spyre Therapeutics in the second quarter worth $1,220,000. Finally, Assenagon Asset Management S.A. bought a new stake in Spyre Therapeutics in the third quarter worth $33,609,000. 80.39% of the stock is currently owned by hedge funds and other institutional investors.

Spyre Therapeutics Stock Performance

Shares of SYRE opened at $27.65 on Tuesday. The business’s 50-day moving average is $31.07 and its two-hundred day moving average is $29.77. The company has a market capitalization of $1.42 billion, a P/E ratio of -3.81 and a beta of 2.90. Spyre Therapeutics, Inc. has a fifty-two week low of $14.22 and a fifty-two week high of $47.97.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wedbush restated an “outperform” rating and issued a $45.00 target price on shares of Spyre Therapeutics in a report on Friday, November 8th. Robert W. Baird raised their price objective on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Guggenheim upped their target price on Spyre Therapeutics from $50.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $48.57.

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).