F M Investments LLC Takes Position in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

F M Investments LLC purchased a new position in Spyre Therapeutics, Inc. (NASDAQ:SYRE) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 48,806 shares of the company’s stock, valued at approximately $1,136,000. F M Investments LLC owned approximately 0.09% of Spyre Therapeutics as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Barclays PLC boosted its holdings in Spyre Therapeutics by 64.7% in the third quarter. Barclays PLC now owns 105,467 shares of the company’s stock worth $3,101,000 after acquiring an additional 41,424 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new position in Spyre Therapeutics in the 4th quarter worth about $290,000. Victory Capital Management Inc. bought a new position in Spyre Therapeutics in the 4th quarter worth about $6,241,000. Jane Street Group LLC grew its position in Spyre Therapeutics by 78.7% during the 3rd quarter. Jane Street Group LLC now owns 20,641 shares of the company’s stock valued at $607,000 after purchasing an additional 9,090 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Spyre Therapeutics by 16.4% in the third quarter. Geode Capital Management LLC now owns 891,048 shares of the company’s stock worth $26,211,000 after buying an additional 125,214 shares during the last quarter. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Spyre Therapeutics Stock Performance

Shares of NASDAQ:SYRE opened at $12.22 on Friday. The stock’s 50-day simple moving average is $18.46 and its two-hundred day simple moving average is $24.29. The stock has a market capitalization of $736.34 million, a price-to-earnings ratio of -1.64 and a beta of 3.05. Spyre Therapeutics, Inc. has a 52-week low of $10.91 and a 52-week high of $40.84.

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

Wall Street Analyst Weigh In

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

About Spyre Therapeutics

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).