Invesco Ltd. Sells 118,195 Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Invesco Ltd. cut its stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 85.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,663 shares of the company’s stock after selling 118,195 shares during the period. Invesco Ltd.’s holdings in Spyre Therapeutics were worth $458,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of SYRE. Huntington National Bank purchased a new position in shares of Spyre Therapeutics in the 4th quarter valued at approximately $34,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Spyre Therapeutics in the fourth quarter worth $46,000. KLP Kapitalforvaltning AS purchased a new position in Spyre Therapeutics during the fourth quarter valued at $182,000. Arizona State Retirement System grew its position 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 buying an additional 2,805 shares during the period. Finally, Teacher Retirement System of Texas bought a new position in shares of Spyre Therapeutics in the 4th quarter worth about $242,000. 80.39% of the stock is owned by institutional investors.

Spyre Therapeutics Price Performance

SYRE stock opened at $15.11 on Friday. The firm’s fifty day simple moving average is $15.91 and its 200-day simple moving average is $22.74. Spyre Therapeutics, Inc. has a 12 month low of $10.91 and a 12 month high of $40.49. The company has a market capitalization of $910.77 million, a P/E ratio of -2.02 and a beta of 3.05.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.81) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.08. As a group, sell-side analysts forecast that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Leerink Partners assumed coverage on shares of Spyre Therapeutics in a research note on Tuesday, April 8th. They set an “outperform” rating and a $45.00 price objective on the stock. 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 Spyre Therapeutics to a “strong-buy” rating in a research note on Tuesday, April 8th. Wolfe Research assumed coverage on Spyre Therapeutics in a research note on Tuesday, March 18th. They issued an “outperform” rating and a $27.00 target price on the stock. Finally, The Goldman Sachs Group raised Spyre Therapeutics to a “strong-buy” rating in a research 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 company’s stock. Based on data from MarketBeat, Spyre Therapeutics has a consensus rating of “Buy” and a consensus target price of $49.57.

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).