EFG Asset Management North America Corp. Boosts Holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

EFG Asset Management North America Corp. raised its holdings in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 58.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,818 shares of the company’s stock after buying an additional 30,608 shares during the period. EFG Asset Management North America Corp. owned about 0.16% of Spyre Therapeutics worth $1,929,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Spyre Therapeutics in the 4th quarter worth $46,000. Arizona State Retirement System grew its holdings in Spyre Therapeutics by 38.4% during the fourth quarter. Arizona State Retirement System now owns 10,115 shares of the company’s stock valued at $235,000 after purchasing an additional 2,805 shares during the period. Rhumbline Advisers grew its holdings in Spyre Therapeutics by 6.9% during the fourth quarter. Rhumbline Advisers now owns 57,657 shares of the company’s stock valued at $1,342,000 after purchasing an additional 3,722 shares during the period. Quest Partners LLC increased its position in Spyre Therapeutics by 271.2% in the third quarter. Quest Partners LLC now owns 5,654 shares of the company’s stock worth $166,000 after buying an additional 4,131 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Spyre Therapeutics by 15.0% in the third quarter. The Manufacturers Life Insurance Company now owns 43,460 shares of the company’s stock worth $1,278,000 after buying an additional 5,678 shares during the period. 80.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on SYRE. Wedbush reiterated 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 upgraded shares of Spyre Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 18th. Finally, Wolfe Research initiated 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 research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Spyre Therapeutics presently has an average rating of “Buy” and an average price target of $50.86.

Spyre Therapeutics Price Performance

Spyre Therapeutics stock opened at $18.16 on Wednesday. Spyre Therapeutics, Inc. has a 1 year low of $17.24 and a 1 year high of $40.84. The firm’s 50 day moving average price is $20.75 and its 200-day moving average price is $25.79. The stock has a market cap of $1.09 billion, a P/E ratio of -2.43 and a beta of 2.98.

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