Polar Capital Holdings Plc Boosts Holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Polar Capital Holdings Plc grew its holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 50.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 750,000 shares of the company’s stock after purchasing an additional 250,000 shares during the quarter. Polar Capital Holdings Plc’s holdings in Spyre Therapeutics were worth $17,460,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Barclays PLC lifted its position in shares of Spyre Therapeutics by 64.7% during the 3rd quarter. Barclays PLC now owns 105,467 shares of the company’s stock worth $3,101,000 after purchasing an additional 41,424 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Spyre Therapeutics by 29.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 29,473 shares of the company’s stock worth $867,000 after purchasing an additional 6,701 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Spyre Therapeutics during the 4th quarter worth $290,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Spyre Therapeutics during the 4th quarter worth $46,000. Finally, Rhumbline Advisers lifted its position in shares of Spyre Therapeutics by 6.9% during the 4th quarter. Rhumbline Advisers now owns 57,657 shares of the company’s stock worth $1,342,000 after purchasing an additional 3,722 shares during the last quarter. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Wall Street Analysts Forecast Growth

SYRE has been the subject of several recent analyst reports. Leerink Partners initiated coverage on shares of Spyre Therapeutics in a research report on Tuesday, April 8th. They set an “outperform” rating and a $45.00 price objective for the company. Wolfe Research assumed coverage on shares of Spyre Therapeutics in a report on Tuesday, March 18th. They set an “outperform” rating and a $27.00 price objective on the stock. Wedbush reissued an “outperform” rating and set a $65.00 price objective on shares of Spyre Therapeutics in a report on Monday, May 5th. The Goldman Sachs Group raised shares of Spyre Therapeutics to a “strong-buy” rating in a report on Tuesday, February 18th. Finally, Leerink Partnrs raised shares of Spyre Therapeutics to a “strong-buy” rating in a 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $53.40.

Spyre Therapeutics Trading Down 1.8%

SYRE stock opened at $14.54 on Friday. Spyre Therapeutics, Inc. has a twelve month low of $10.91 and a twelve month high of $40.26. The company’s 50 day moving average is $14.99 and its two-hundred day moving average is $21.59. The stock has a market cap of $876.41 million, a P/E ratio of -1.95 and a beta of 2.78.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings data 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 research analysts predict that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current year.

Spyre Therapeutics 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).