Spyre Therapeutics, Inc. (NASDAQ:SYRE) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP grew its stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 6.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,604,508 shares of the company’s stock after purchasing an additional 97,308 shares during the quarter. Wellington Management Group LLP owned approximately 3.12% of Spyre Therapeutics worth $37,353,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Barclays PLC raised its stake in Spyre Therapeutics by 64.7% during the third quarter. Barclays PLC now owns 105,467 shares of the company’s stock valued at $3,101,000 after buying an additional 41,424 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Spyre Therapeutics during the 4th quarter valued at approximately $290,000. Charles Schwab Investment Management Inc. lifted its stake in Spyre Therapeutics by 239.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 333,275 shares of the company’s stock worth $9,802,000 after purchasing an additional 235,094 shares during the last quarter. Victory Capital Management Inc. acquired a new position in Spyre Therapeutics in the fourth quarter worth $6,241,000. Finally, Jane Street Group LLC increased its stake in Spyre Therapeutics by 78.7% during the third quarter. Jane Street Group LLC now owns 20,641 shares of the company’s stock valued at $607,000 after purchasing an additional 9,090 shares during the last quarter. Institutional investors own 80.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SYRE. Wedbush reissued an “outperform” rating and issued a $65.00 target price on shares of Spyre Therapeutics in a report on Monday, January 13th. The Goldman Sachs Group raised Spyre Therapeutics to a “strong-buy” rating in a report on Tuesday, February 18th. Finally, Wolfe Research initiated coverage on Spyre Therapeutics in a research report on Tuesday, March 18th. They set an “outperform” rating and a $27.00 price objective for the company. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $50.33.

Spyre Therapeutics Price Performance

Shares of SYRE stock opened at $12.79 on Monday. The business has a 50 day simple moving average of $19.85 and a 200 day simple moving average of $25.06. The firm has a market capitalization of $770.69 million, a price-to-earnings ratio of -1.71 and a beta of 3.05. Spyre Therapeutics, Inc. has a 12-month low of $12.56 and a 12-month high of $40.84.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.81) EPS for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.08. On average, equities analysts anticipate that Spyre Therapeutics, Inc. will post -4.46 EPS for the current fiscal year.

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).