Spyre Therapeutics, Inc. (NASDAQ:SYRE) Shares Sold by Braidwell LP

Braidwell LP cut its holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 12.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,189,836 shares of the company’s stock after selling 324,702 shares during the period. Spyre Therapeutics accounts for about 1.8% of Braidwell LP’s holdings, making the stock its 22nd biggest position. Braidwell LP owned 4.26% of Spyre Therapeutics worth $64,403,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SYRE. Avoro Capital Advisors LLC acquired a new position in Spyre Therapeutics in the 2nd quarter valued at $43,238,000. Assenagon Asset Management S.A. acquired a new position in Spyre Therapeutics in the 3rd quarter valued at $33,609,000. Driehaus Capital Management LLC acquired a new position in Spyre Therapeutics in the 2nd quarter valued at $16,153,000. Farallon Capital Management LLC acquired a new position in Spyre Therapeutics in the 2nd quarter valued at $15,658,000. Finally, Logos Global Management LP purchased a new stake in shares of Spyre Therapeutics during the 2nd quarter valued at $13,518,000. 80.39% of the stock is currently owned by institutional investors and hedge funds.

Spyre Therapeutics Trading Down 0.3 %

Shares of Spyre Therapeutics stock opened at $27.75 on Friday. The company has a fifty day moving average price of $31.10 and a 200 day moving average price of $29.95. Spyre Therapeutics, Inc. has a twelve month low of $10.42 and a twelve month high of $47.97. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -3.71 and a beta of 2.90.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wedbush reissued an “outperform” rating and set a $45.00 price objective on shares of Spyre Therapeutics in a research note on Friday, November 8th. Robert W. Baird boosted their price objective on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Guggenheim boosted their price objective on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $48.57.

About Spyre Therapeutics

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).