Spyre Therapeutics, Inc. (NASDAQ:SYRE) Stock Position Boosted by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC lifted its stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 1,548.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,574 shares of the company’s stock after acquiring an additional 8,054 shares during the period. Tower Research Capital LLC TRC’s holdings in Spyre Therapeutics were worth $200,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. MetLife Investment Management LLC grew its holdings in Spyre Therapeutics by 6.2% during the fourth quarter. MetLife Investment Management LLC now owns 21,382 shares of the company’s stock worth $498,000 after acquiring an additional 1,250 shares during the period. Huntington National Bank bought a new position in shares of Spyre Therapeutics during the 4th quarter valued at about $34,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Spyre Therapeutics in the 4th quarter worth approximately $46,000. Arizona State Retirement System raised its holdings in shares of Spyre Therapeutics by 38.4% in the 4th quarter. Arizona State Retirement System now owns 10,115 shares of the company’s stock worth $235,000 after purchasing an additional 2,805 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in Spyre Therapeutics by 6.9% during the fourth quarter. Rhumbline Advisers now owns 57,657 shares of the company’s stock valued at $1,342,000 after purchasing an additional 3,722 shares during the last quarter. 80.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. The Goldman Sachs Group raised Spyre Therapeutics to a “strong-buy” rating in a report on Tuesday, February 18th. Leerink Partners assumed coverage on Spyre Therapeutics in a report on Tuesday, April 8th. They set an “outperform” rating and a $45.00 target price for the company. Wolfe Research assumed coverage on Spyre Therapeutics in a research note on Tuesday, March 18th. They issued an “outperform” rating and a $27.00 price target on the stock. Leerink Partnrs raised shares of Spyre Therapeutics to a “strong-buy” rating in a research note on Tuesday, April 8th. Finally, Wedbush reissued an “outperform” rating and issued a $65.00 target price on shares of Spyre Therapeutics in a research report on Monday. Eight research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $49.57.

Spyre Therapeutics Price Performance

Shares of SYRE opened at $14.09 on Tuesday. The company has a market capitalization of $849.29 million, a price-to-earnings ratio of -1.89 and a beta of 2.78. The business’s 50-day moving average is $15.81 and its 200-day moving average is $22.54. Spyre Therapeutics, Inc. has a fifty-two week low of $10.91 and a fifty-two week high of $40.49.

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

About Spyre Therapeutics

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).