Charles Schwab Investment Management Inc. Raises Position in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Charles Schwab Investment Management Inc. raised its stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 13.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 379,650 shares of the company’s stock after purchasing an additional 46,375 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Spyre Therapeutics were worth $8,838,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SYRE. Wellington Management Group LLP raised its stake in shares of Spyre Therapeutics by 89.4% in the third quarter. Wellington Management Group LLP now owns 1,507,200 shares of the company’s stock worth $44,327,000 after purchasing an additional 711,254 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Spyre Therapeutics by 66.3% in the third quarter. Janus Henderson Group PLC now owns 1,120,531 shares of the company’s stock worth $32,921,000 after purchasing an additional 446,664 shares during the last quarter. Ikarian Capital LLC purchased a new stake in shares of Spyre Therapeutics in the third quarter worth approximately $8,889,000. State Street Corp raised its stake in shares of Spyre Therapeutics by 9.4% in the third quarter. State Street Corp now owns 1,541,555 shares of the company’s stock worth $45,337,000 after purchasing an additional 131,896 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Spyre Therapeutics by 16.4% in the third quarter. Geode Capital Management LLC now owns 891,048 shares of the company’s stock worth $26,211,000 after purchasing an additional 125,214 shares during the last quarter. 80.39% of the stock is owned by hedge funds and other institutional investors.

Spyre Therapeutics Trading Up 0.1 %

Shares of SYRE opened at $18.17 on Friday. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -2.43 and a beta of 2.98. The stock has a 50 day moving average of $20.85 and a 200 day moving average of $25.94. Spyre Therapeutics, Inc. has a 12 month low of $17.24 and a 12 month high of $43.00.

Spyre Therapeutics (NASDAQ:SYRE) last released its earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.08. As a group, equities research analysts predict that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SYRE. Wolfe Research started coverage on Spyre Therapeutics in a research note on Tuesday, March 18th. They issued an “outperform” rating and a $27.00 price objective for the company. The Goldman Sachs Group raised Spyre Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 18th. Finally, Wedbush reaffirmed an “outperform” rating and set a $65.00 price target on shares of Spyre Therapeutics in a research report on Monday, January 13th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $50.86.

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).