California State Teachers Retirement System Grows Stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

California State Teachers Retirement System grew its position in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 32.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,598 shares of the company’s stock after purchasing an additional 7,923 shares during the period. California State Teachers Retirement System owned approximately 0.05% of Spyre Therapeutics worth $759,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SYRE. GF Fund Management CO. LTD. purchased a new position in shares of Spyre Therapeutics during the 4th quarter valued at $29,000. Huntington National Bank purchased a new position in shares of Spyre Therapeutics during the 4th quarter valued at $34,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Spyre Therapeutics during the 4th quarter valued at $46,000. KLP Kapitalforvaltning AS purchased a new position in shares of Spyre Therapeutics during the 4th quarter valued at $182,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Spyre Therapeutics by 1,548.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,574 shares of the company’s stock valued at $200,000 after purchasing an additional 8,054 shares in the last quarter. 80.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SYRE. Wedbush restated an “outperform” rating and set a $65.00 price target on shares of Spyre Therapeutics in a research report on Monday, May 5th. The Goldman Sachs Group upgraded shares of Spyre Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 18th. Wolfe Research initiated coverage on shares of Spyre Therapeutics in a research report on Tuesday, March 18th. They issued an “outperform” rating and a $27.00 target price for the company. Leerink Partners initiated coverage on shares of Spyre Therapeutics in a research report on Tuesday, April 8th. They issued an “outperform” rating and a $45.00 target price for the company. Finally, Leerink Partnrs upgraded shares of Spyre Therapeutics to a “strong-buy” rating in a research report on Tuesday, April 8th. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $53.40.

Spyre Therapeutics Stock Up 8.2%

NASDAQ SYRE opened at $18.56 on Wednesday. The company has a 50-day simple moving average of $14.36 and a two-hundred day simple moving average of $19.36. Spyre Therapeutics, Inc. has a 12-month low of $10.91 and a 12-month high of $40.26. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -2.48 and a beta of 2.72.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.74) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.02. Equities 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).