Rhumbline Advisers Grows Stock Holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Rhumbline Advisers lifted its position in Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 6.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 57,657 shares of the company’s stock after buying an additional 3,722 shares during the quarter. Rhumbline Advisers’ holdings in Spyre Therapeutics were worth $1,342,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Spyre Therapeutics in the fourth quarter valued at about $46,000. Quest Partners LLC grew its stake in shares of Spyre Therapeutics by 271.2% during the third quarter. Quest Partners LLC now owns 5,654 shares of the company’s stock worth $166,000 after acquiring an additional 4,131 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Spyre Therapeutics during the third quarter valued at about $246,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Spyre Therapeutics in the 4th quarter valued at approximately $290,000. Finally, MetLife Investment Management LLC boosted its stake in Spyre Therapeutics by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 20,132 shares of the company’s stock worth $592,000 after purchasing an additional 11,344 shares in the last quarter. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Spyre Therapeutics Stock Performance

NASDAQ:SYRE opened at $19.47 on Thursday. The firm’s fifty day moving average is $22.15 and its two-hundred day moving average is $26.71. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -2.61 and a beta of 2.98. Spyre Therapeutics, Inc. has a one year low of $17.24 and a one year high of $47.97.

Spyre Therapeutics (NASDAQ:SYRE) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share for the quarter, beating the consensus estimate 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 fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wedbush restated an “outperform” rating and set a $65.00 price target on shares of Spyre Therapeutics in a research note on Monday, January 13th. Robert W. Baird boosted their price objective on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group upgraded Spyre Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 18th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $54.83.

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).