Emerald Advisers LLC Acquires 254,222 Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Emerald Advisers LLC grew its stake in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 86.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 546,791 shares of the company’s stock after purchasing an additional 254,222 shares during the period. Emerald Advisers LLC owned approximately 1.06% of Spyre Therapeutics worth $12,729,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of SYRE. Wellington Management Group LLP raised its holdings in shares of Spyre Therapeutics by 89.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,507,200 shares of the company’s stock worth $44,327,000 after purchasing an additional 711,254 shares during the period. Janus Henderson Group PLC boosted its holdings in Spyre Therapeutics by 66.3% in the 3rd quarter. Janus Henderson Group PLC now owns 1,120,531 shares of the company’s stock worth $32,921,000 after buying an additional 446,664 shares during the period. Vanguard Group Inc. grew its stake in Spyre Therapeutics by 13.1% in the 4th quarter. Vanguard Group Inc. now owns 2,846,473 shares of the company’s stock valued at $66,266,000 after buying an additional 330,553 shares in the last quarter. Ikarian Capital LLC bought a new position in shares of Spyre Therapeutics in the third quarter worth $8,889,000. Finally, Victory Capital Management Inc. purchased a new position in Spyre Therapeutics during the 4th quarter valued at about $6,241,000. Institutional investors own 80.39% of the company’s stock.

Spyre Therapeutics Stock Up 0.1 %

Shares of NASDAQ SYRE opened at $18.17 on Friday. The firm’s fifty day moving average is $20.85 and its 200 day moving average is $25.94. Spyre Therapeutics, Inc. has a 52 week low of $17.24 and a 52 week high of $43.00. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -2.43 and a beta of 2.98.

Spyre Therapeutics (NASDAQ:SYRE) last posted its earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.08. Equities research analysts anticipate that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on SYRE shares. Wedbush reaffirmed an “outperform” rating and set a $65.00 price objective on shares of Spyre Therapeutics in a research note on Monday, January 13th. The Goldman Sachs Group raised Spyre Therapeutics to a “strong-buy” rating in a report on Tuesday, February 18th. Finally, Wolfe Research assumed coverage on shares of Spyre Therapeutics in a research report on Tuesday, March 18th. They set an “outperform” rating and a $27.00 price objective on the stock. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $50.86.

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).