BNP Paribas Financial Markets Takes $437,000 Position in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

BNP Paribas Financial Markets acquired a new stake in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,784 shares of the company’s stock, valued at approximately $437,000.

Other hedge funds have also recently added to or reduced their stakes in the company. MetLife Investment Management LLC increased its holdings in Spyre Therapeutics by 6.2% during the 4th quarter. MetLife Investment Management LLC now owns 21,382 shares of the company’s stock worth $498,000 after purchasing an additional 1,250 shares in the last quarter. Huntington National Bank bought a new stake in shares of Spyre Therapeutics in the 4th quarter worth approximately $34,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Spyre Therapeutics in the 4th quarter worth about $46,000. Arizona State Retirement System lifted its stake in shares of Spyre Therapeutics by 38.4% during the 4th quarter. Arizona State Retirement System now owns 10,115 shares of the company’s stock valued at $235,000 after buying an additional 2,805 shares in the last quarter. Finally, Rhumbline Advisers grew its position in shares of Spyre Therapeutics by 6.9% in the fourth quarter. Rhumbline Advisers now owns 57,657 shares of the company’s stock valued at $1,342,000 after purchasing an additional 3,722 shares in the last quarter. Institutional investors and hedge funds own 80.39% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wedbush reissued an “outperform” rating and issued a $65.00 price target on shares of Spyre Therapeutics in a report on Monday, May 5th. Wolfe Research assumed coverage on Spyre Therapeutics in a research report on Tuesday, March 18th. They set an “outperform” rating and a $27.00 price target for the company. Leerink Partnrs raised Spyre Therapeutics to a “strong-buy” rating in a research report on Tuesday, April 8th. The Goldman Sachs Group raised shares of Spyre Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 18th. Finally, Leerink Partners began coverage on shares of Spyre Therapeutics in a report on Tuesday, April 8th. They issued an “outperform” rating and a $45.00 target price for the company. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Spyre Therapeutics has an average rating of “Buy” and an average target price of $53.40.

Spyre Therapeutics Stock Down 0.4%

Shares of NASDAQ:SYRE opened at $15.01 on Monday. Spyre Therapeutics, Inc. has a twelve month low of $10.91 and a twelve month high of $40.26. The firm’s 50 day moving average price is $14.59 and its 200-day moving average price is $20.57. The stock has a market capitalization of $904.74 million, a PE ratio of -2.01 and a beta of 2.78.

Spyre Therapeutics (NASDAQ:SYRE) last released its earnings results on Thursday, May 8th. The company reported ($0.74) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.02. Analysts expect 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).