Paradigm Biocapital Advisors LP Grows Stock Holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Paradigm Biocapital Advisors LP raised its holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 20.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,527,205 shares of the company’s stock after buying an additional 259,624 shares during the period. Spyre Therapeutics comprises about 1.2% of Paradigm Biocapital Advisors LP’s holdings, making the stock its 20th largest position. Paradigm Biocapital Advisors LP owned 2.97% of Spyre Therapeutics worth $35,553,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Millennium Management LLC acquired a new stake in shares of Spyre Therapeutics during the 4th quarter worth about $3,906,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Spyre Therapeutics by 4.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,741 shares of the company’s stock worth $527,000 after purchasing an additional 916 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Spyre Therapeutics by 30.0% during the 4th quarter. Janus Henderson Group PLC now owns 1,456,740 shares of the company’s stock worth $33,927,000 after buying an additional 336,209 shares during the last quarter. Jefferies Financial Group Inc. boosted its holdings in shares of Spyre Therapeutics by 167.6% in the 4th quarter. Jefferies Financial Group Inc. now owns 1,216,954 shares of the company’s stock valued at $28,331,000 after buying an additional 762,147 shares in the last quarter. Finally, Deutsche Bank AG grew its position in shares of Spyre Therapeutics by 46.1% in the 4th quarter. Deutsche Bank AG now owns 31,418 shares of the company’s stock valued at $731,000 after buying an additional 9,910 shares during the last quarter. 80.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SYRE. Leerink Partners initiated coverage on shares of Spyre Therapeutics in a research note on Tuesday, April 8th. They issued an “outperform” rating and a $45.00 price objective for the company. Wolfe Research started coverage on Spyre Therapeutics in a research note on Tuesday, March 18th. They issued an “outperform” rating and a $27.00 price objective for the company. Wedbush restated an “outperform” rating and set a $65.00 target price 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 note on Tuesday, February 18th. Finally, Leerink Partnrs upgraded shares of Spyre Therapeutics to a “strong-buy” rating in a research note on Tuesday, April 8th. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $53.40.

Spyre Therapeutics Price Performance

Shares of SYRE opened at $14.75 on Wednesday. Spyre Therapeutics, Inc. has a 1-year low of $10.91 and a 1-year high of $40.49. The stock has a market cap of $889.07 million, a price-to-earnings ratio of -1.97 and a beta of 2.78. The firm has a 50 day simple moving average of $15.16 and a 200-day simple moving average of $21.78.

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