Geode Capital Management LLC Has $26.21 Million Stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Geode Capital Management LLC lifted its position in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 16.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 891,048 shares of the company’s stock after acquiring an additional 125,214 shares during the period. Geode Capital Management LLC owned approximately 1.73% of Spyre Therapeutics worth $26,211,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Driehaus Capital Management LLC bought a new position in shares of Spyre Therapeutics in the 2nd quarter valued at $16,153,000. Ensign Peak Advisors Inc bought a new position in shares of Spyre Therapeutics in the second quarter worth about $1,939,000. Barclays PLC boosted its stake in shares of Spyre Therapeutics by 64.7% in the 3rd quarter. Barclays PLC now owns 105,467 shares of the company’s stock valued at $3,101,000 after purchasing an additional 41,424 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Spyre Therapeutics during the 2nd quarter valued at approximately $2,767,000. Finally, Rhumbline Advisers acquired a new position in Spyre Therapeutics during the 2nd quarter worth approximately $1,220,000. 80.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Wedbush reaffirmed an “outperform” rating and set a $45.00 target price on shares of Spyre Therapeutics in a research note on Friday, November 8th. Robert W. Baird boosted their price objective on Spyre Therapeutics from $50.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Guggenheim increased their target price on Spyre Therapeutics from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $51.50.

Spyre Therapeutics Price Performance

Shares of SYRE stock opened at $24.07 on Friday. Spyre Therapeutics, Inc. has a one year low of $18.54 and a one year high of $47.97. The business’s 50 day simple moving average is $29.59 and its 200 day simple moving average is $28.57. The stock has a market capitalization of $1.24 billion, a PE ratio of -3.22 and a beta of 2.82.

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).