Arizona State Retirement System Raises Holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Arizona State Retirement System boosted its holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 38.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,115 shares of the company’s stock after acquiring an additional 2,805 shares during the quarter. Arizona State Retirement System’s holdings in Spyre Therapeutics were worth $235,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Spyre Therapeutics during the 4th quarter worth $46,000. Rhumbline Advisers increased its holdings in Spyre Therapeutics by 6.9% in the fourth quarter. Rhumbline Advisers now owns 57,657 shares of the company’s stock valued at $1,342,000 after buying an additional 3,722 shares in the last quarter. Quest Partners LLC lifted its position in shares of Spyre Therapeutics by 271.2% during the 3rd quarter. Quest Partners LLC now owns 5,654 shares of the company’s stock valued at $166,000 after acquiring an additional 4,131 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Spyre Therapeutics by 15.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 43,460 shares of the company’s stock worth $1,278,000 after acquiring an additional 5,678 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Spyre Therapeutics by 29.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 29,473 shares of the company’s stock worth $867,000 after acquiring an additional 6,701 shares during the period. Institutional investors and hedge funds own 80.39% of the company’s stock.

Spyre Therapeutics Price Performance

Shares of SYRE stock opened at $18.04 on Friday. The firm’s 50-day simple moving average is $21.41 and its 200-day simple moving average is $26.28. Spyre Therapeutics, Inc. has a 1-year low of $17.24 and a 1-year high of $47.97. The firm has a market cap of $1.09 billion, a P/E ratio of -2.41 and a beta of 2.98.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.08. Analysts expect that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. The Goldman Sachs Group raised Spyre Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 18th. Wedbush reiterated an “outperform” rating and issued a $65.00 price target on shares of Spyre Therapeutics in a research report on Monday, January 13th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $54.83.

Spyre Therapeutics Company 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).