Corebridge Financial Inc. Boosts Holdings in Spyre Therapeutics, Inc. $SYRE

Corebridge Financial Inc. boosted its position in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 13.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,595 shares of the company’s stock after buying an additional 2,382 shares during the quarter. Corebridge Financial Inc.’s holdings in Spyre Therapeutics were worth $316,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. MetLife Investment Management LLC lifted its position in shares of Spyre Therapeutics by 11.0% during the first quarter. MetLife Investment Management LLC now owns 23,733 shares of the company’s stock worth $383,000 after purchasing an additional 2,351 shares during the last quarter. AlphaQuest LLC lifted its position in shares of Spyre Therapeutics by 45.2% during the first quarter. AlphaQuest LLC now owns 3,191 shares of the company’s stock worth $51,000 after purchasing an additional 993 shares during the last quarter. Nuveen LLC bought a new stake in shares of Spyre Therapeutics during the first quarter worth $2,261,000. Invesco Ltd. lifted its position in shares of Spyre Therapeutics by 28.2% during the first quarter. Invesco Ltd. now owns 25,207 shares of the company’s stock worth $407,000 after purchasing an additional 5,544 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Spyre Therapeutics by 0.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 382,636 shares of the company’s stock worth $6,174,000 after purchasing an additional 2,986 shares during the last quarter. 80.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on SYRE shares. Wedbush reiterated an “outperform” rating and set a $65.00 target price on shares of Spyre Therapeutics in a research report on Wednesday, August 6th. Wall Street Zen upgraded Spyre Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $53.40.

Spyre Therapeutics Stock Performance

NASDAQ SYRE opened at $17.00 on Monday. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -5.00 and a beta of 2.87. The company’s 50-day simple moving average is $16.43 and its two-hundred day simple moving average is $16.06. Spyre Therapeutics, Inc. has a one year low of $10.91 and a one year high of $40.26.

Spyre Therapeutics (NASDAQ:SYRE) last posted its earnings results on Tuesday, August 5th. The company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.24. Equities analysts expect that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Spyre Therapeutics news, CFO Scott L. Burrows sold 18,428 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $16.26, for a total transaction of $299,639.28. Following the transaction, the chief financial officer owned 97,994 shares of the company’s stock, valued at approximately $1,593,382.44. This trade represents a 15.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 6.20% of the company’s stock.

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).