Walleye Capital LLC Grows Stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Walleye Capital LLC lifted its stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 61.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 243,372 shares of the company’s stock after acquiring an additional 92,552 shares during the quarter. Walleye Capital LLC’s holdings in Spyre Therapeutics were worth $7,158,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in Spyre Therapeutics during the 2nd quarter worth $130,000. EFG Asset Management North America Corp. purchased a new stake in shares of Spyre Therapeutics during the second quarter worth about $869,000. Bank of New York Mellon Corp acquired a new position in shares of Spyre Therapeutics in the second quarter worth about $2,767,000. Rhumbline Advisers purchased a new position in Spyre Therapeutics in the second quarter valued at about $1,220,000. Finally, TD Asset Management Inc acquired a new stake in Spyre Therapeutics during the 2nd quarter valued at approximately $827,000. Institutional investors and hedge funds own 80.39% of the company’s stock.

Spyre Therapeutics Stock Performance

Shares of NASDAQ:SYRE opened at $28.43 on Friday. The company’s fifty day moving average is $31.07 and its two-hundred day moving average is $29.89. Spyre Therapeutics, Inc. has a 1-year low of $14.22 and a 1-year high of $47.97. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -3.81 and a beta of 2.90.

Analysts Set New Price Targets

SYRE has been the topic of a number of recent analyst reports. Guggenheim upped their target price on Spyre Therapeutics from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Wedbush reaffirmed an “outperform” rating and issued a $45.00 price target on shares of Spyre Therapeutics in a report on Friday, November 8th. Finally, Robert W. Baird raised their price objective on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $48.57.

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).