EFG Asset Management North America Corp. Acquires 30,608 Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE)

EFG Asset Management North America Corp. boosted its holdings in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 58.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 82,818 shares of the company’s stock after acquiring an additional 30,608 shares during the period. EFG Asset Management North America Corp.’s holdings in Spyre Therapeutics were worth $1,929,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Spyre Therapeutics in the 4th quarter worth about $46,000. Quest Partners LLC grew 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 acquiring an additional 4,131 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Spyre Therapeutics during the fourth quarter worth approximately $182,000. Arizona State Retirement System raised its position 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. Finally, Teacher Retirement System of Texas bought a new stake in shares of Spyre Therapeutics in the 4th quarter valued at approximately $242,000. Institutional investors own 80.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wolfe Research started coverage on shares of Spyre Therapeutics in a research note on Tuesday, March 18th. They set an “outperform” rating and a $27.00 price objective for the company. Wedbush reaffirmed 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 report on Tuesday, February 18th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Spyre Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $50.86.

Spyre Therapeutics Trading Down 4.5 %

NASDAQ SYRE opened at $18.16 on Wednesday. The stock has a market cap of $1.09 billion, a PE ratio of -2.43 and a beta of 2.98. Spyre Therapeutics, Inc. has a 12 month low of $17.24 and a 12 month high of $40.84. The company’s 50-day moving average price is $20.75 and its 200-day moving average price is $25.79.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.81) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $0.08. As a group, sell-side analysts forecast that Spyre Therapeutics, Inc. will post -4.46 earnings per share 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).