F M Investments LLC Invests $1.14 Million in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

F M Investments LLC acquired a new stake in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 48,806 shares of the company’s stock, valued at approximately $1,136,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Spyre Therapeutics by 15.4% in the fourth quarter. FMR LLC now owns 8,801,266 shares of the company’s stock worth $204,893,000 after purchasing an additional 1,177,385 shares during the period. Vanguard Group Inc. lifted its stake in shares of Spyre Therapeutics by 13.1% during the 4th quarter. Vanguard Group Inc. now owns 2,846,473 shares of the company’s stock valued at $66,266,000 after buying an additional 330,553 shares in the last quarter. Victory Capital Management Inc. bought a new position in Spyre Therapeutics in the 4th quarter worth $6,241,000. Pictet Asset Management Holding SA increased its stake in Spyre Therapeutics by 32.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,092,124 shares of the company’s stock worth $25,425,000 after buying an additional 266,418 shares in the last quarter. Finally, Emerald Advisers LLC increased its stake in Spyre Therapeutics by 86.9% in the 4th quarter. Emerald Advisers LLC now owns 546,791 shares of the company’s stock worth $12,729,000 after buying an additional 254,222 shares in the last quarter. 80.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SYRE. Leerink Partners initiated coverage on Spyre Therapeutics in a research note on Tuesday. They issued an “outperform” rating and a $45.00 price objective for the company. Wedbush restated an “outperform” rating and issued a $65.00 price target on shares of Spyre Therapeutics in a research note on Monday, January 13th. Leerink Partnrs upgraded shares of Spyre Therapeutics to a “strong-buy” rating in a research report on Tuesday. Wolfe Research started coverage on shares of Spyre Therapeutics in a research report on Tuesday, March 18th. They set an “outperform” rating and a $27.00 target price for the company. Finally, The Goldman Sachs Group upgraded shares of Spyre Therapeutics to a “strong-buy” rating in a report on Tuesday, February 18th. Eight equities 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.com, Spyre Therapeutics presently has an average rating of “Buy” and an average target price of $49.57.

Spyre Therapeutics Stock Up 2.4 %

Spyre Therapeutics stock opened at $12.22 on Friday. Spyre Therapeutics, Inc. has a 52-week low of $10.91 and a 52-week high of $40.84. The firm’s fifty day moving average is $18.46 and its 200 day moving average is $24.29. The company has a market cap of $736.34 million, a price-to-earnings ratio of -1.64 and a beta of 3.05.

Spyre Therapeutics (NASDAQ:SYRE) last announced its earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $0.08. On average, equities research analysts anticipate that Spyre Therapeutics, Inc. will post -4.46 earnings per share 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).