Wells Fargo & Company MN Purchases 6,908 Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Wells Fargo & Company MN raised its holdings in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 38.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,718 shares of the company’s stock after acquiring an additional 6,908 shares during the quarter. Wells Fargo & Company MN’s holdings in Spyre Therapeutics were worth $575,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jane Street Group LLC boosted its holdings in Spyre Therapeutics by 78.7% during the third quarter. Jane Street Group LLC now owns 20,641 shares of the company’s stock worth $607,000 after purchasing an additional 9,090 shares during the last quarter. Barclays PLC boosted its stake in shares of Spyre Therapeutics by 64.7% during the 3rd quarter. Barclays PLC now owns 105,467 shares of the company’s stock worth $3,101,000 after buying an additional 41,424 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Spyre Therapeutics by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 760,666 shares of the company’s stock valued at $23,322,000 after acquiring an additional 18,762 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Spyre Therapeutics by 29.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 29,473 shares of the company’s stock valued at $867,000 after acquiring an additional 6,701 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in shares of Spyre Therapeutics in the fourth quarter valued at about $290,000. 80.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Leerink Partners assumed coverage on Spyre Therapeutics in a research note on Tuesday, April 8th. They issued an “outperform” rating and a $45.00 price target for the company. Leerink Partnrs raised shares of Spyre Therapeutics to a “strong-buy” rating in a research note on Tuesday, April 8th. Wedbush restated an “outperform” rating and set a $65.00 target price on shares of Spyre Therapeutics in a report on Monday, January 13th. Wolfe Research started coverage on shares of Spyre Therapeutics in a research note on Tuesday, March 18th. They issued an “outperform” rating and a $27.00 price target for the company. Finally, The Goldman Sachs Group upgraded shares of Spyre Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 18th. Eight research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Spyre Therapeutics has a consensus rating of “Buy” and an average target price of $49.57.

Spyre Therapeutics Price Performance

NASDAQ:SYRE opened at $15.11 on Friday. The company has a market cap of $910.77 million, a P/E ratio of -2.02 and a beta of 3.05. The firm’s fifty day moving average price is $15.91 and its two-hundred day moving average price is $22.81. Spyre Therapeutics, Inc. has a one year low of $10.91 and a one year high of $40.49.

Spyre Therapeutics (NASDAQ:SYRE) last announced 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. As a group, equities research analysts expect that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current 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).