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

Emerald Advisers LLC boosted its stake in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 86.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 546,791 shares of the company’s stock after purchasing an additional 254,222 shares during the period. Emerald Advisers LLC’s holdings in Spyre Therapeutics were worth $12,729,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Barclays PLC increased its holdings in shares of Spyre Therapeutics by 64.7% in 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 in the last quarter. China Universal Asset Management Co. Ltd. bought a new position in Spyre Therapeutics during the 4th quarter valued at about $290,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Spyre Therapeutics by 239.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 333,275 shares of the company’s stock valued at $9,802,000 after acquiring an additional 235,094 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Spyre Therapeutics by 78.7% in the third quarter. Jane Street Group LLC now owns 20,641 shares of the company’s stock worth $607,000 after acquiring an additional 9,090 shares during the period. Finally, Victory Capital Management Inc. bought a new position in Spyre Therapeutics during the fourth quarter valued at approximately $6,241,000. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Wall Street Analysts Forecast Growth

SYRE has been the topic of a number of research reports. Wolfe Research began coverage on Spyre Therapeutics in a research note on Tuesday, March 18th. They issued an “outperform” rating and a $27.00 price target on the stock. Wedbush restated an “outperform” rating and set a $65.00 price target on shares of Spyre Therapeutics in a research note on Monday, January 13th. Finally, The Goldman Sachs Group upgraded shares of Spyre Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 18th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $50.86.

Spyre Therapeutics Stock Up 0.1 %

NASDAQ:SYRE opened at $18.17 on Friday. The business’s 50-day simple moving average is $20.85 and its two-hundred day simple 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 stock has a market cap of $1.09 billion, a PE ratio of -2.43 and a beta of 2.98.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share for the quarter, beating the consensus estimate of ($0.89) by $0.08. Sell-side analysts anticipate 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).