Quest Partners LLC Acquires New Shares in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Quest Partners LLC bought a new position in Spyre Therapeutics, Inc. (NASDAQ:SYRE) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,523 shares of the company’s stock, valued at approximately $36,000.

Several other hedge funds have also recently modified their holdings of SYRE. Bank of New York Mellon Corp bought a new stake in Spyre Therapeutics in the 2nd quarter worth about $2,767,000. EFG Asset Management North America Corp. bought a new stake in shares of Spyre Therapeutics in the second quarter worth approximately $869,000. Candriam S.C.A. purchased a new position in shares of Spyre Therapeutics during the second quarter valued at approximately $2,468,000. SG Americas Securities LLC bought a new position in Spyre Therapeutics during the second quarter valued at approximately $130,000. Finally, TD Asset Management Inc purchased a new stake in Spyre Therapeutics in the second quarter worth approximately $827,000. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Spyre Therapeutics Stock Performance

Shares of Spyre Therapeutics stock opened at $30.40 on Friday. The stock has a market cap of $1.22 billion, a P/E ratio of -0.41 and a beta of 2.92. The stock’s fifty day moving average is $27.94 and its 200 day moving average is $32.03. Spyre Therapeutics, Inc. has a one year low of $8.43 and a one year high of $47.97.

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SYRE. Wedbush initiated coverage on shares of Spyre Therapeutics in a research note on Wednesday, September 4th. They set an “outperform” rating and a $45.00 target price for the company. Evercore ISI started 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, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $43.43.

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).