Spyre Therapeutics, Inc. (NASDAQ:SYRE) Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its position in Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 32.3% in the fourth quarter, HoldingsChannel reports. The fund owned 1,092,124 shares of the company’s stock after acquiring an additional 266,418 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Spyre Therapeutics were worth $25,425,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in Spyre Therapeutics during the fourth quarter valued at $46,000. Arizona State Retirement System lifted its stake in Spyre Therapeutics by 38.4% in the 4th quarter. Arizona State Retirement System now owns 10,115 shares of the company’s stock valued at $235,000 after buying an additional 2,805 shares in the last quarter. Rhumbline Advisers boosted its holdings in Spyre Therapeutics by 6.9% in the 4th quarter. Rhumbline Advisers now owns 57,657 shares of the company’s stock worth $1,342,000 after buying an additional 3,722 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Spyre Therapeutics by 15.0% during the 3rd 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 in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Spyre Therapeutics by 19.6% during the fourth quarter. JPMorgan Chase & Co. now owns 35,248 shares of the company’s stock valued at $821,000 after acquiring an additional 5,775 shares during the last quarter. 80.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. The Goldman Sachs Group raised Spyre Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 18th. Wedbush reaffirmed an “outperform” rating and set a $65.00 target price on shares of Spyre Therapeutics in a report on Monday, January 13th. Finally, Wolfe Research began coverage on shares of Spyre Therapeutics in a research report on Tuesday, March 18th. They issued an “outperform” rating and a $27.00 target price for the company. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $50.33.

Spyre Therapeutics Trading Down 10.0 %

Spyre Therapeutics stock opened at $16.14 on Tuesday. The company has a 50-day moving average price of $20.45 and a 200 day moving average price of $25.47. Spyre Therapeutics, Inc. has a 12-month low of $16.13 and a 12-month high of $40.84. The stock has a market cap of $972.55 million, a P/E ratio of -2.16 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, topping analysts’ consensus estimates of ($0.89) by $0.08. As a group, analysts forecast that Spyre Therapeutics, Inc. will post -4.46 EPS for the current 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).