Bank of New York Mellon Corp Makes New Investment in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Bank of New York Mellon Corp bought a new position in Spyre Therapeutics, Inc. (NASDAQ:SYRE) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 117,686 shares of the company’s stock, valued at approximately $2,767,000. Bank of New York Mellon Corp owned 0.29% of Spyre Therapeutics at the end of the most recent quarter.

Separately, SG Americas Securities LLC purchased a new stake in shares of Spyre Therapeutics in the 2nd quarter worth $130,000. Institutional investors and hedge funds own 80.39% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SYRE. Evercore ISI began coverage on Spyre Therapeutics in a report on Tuesday, July 16th. They issued an “outperform” rating for the company. Wedbush began coverage on Spyre Therapeutics in a report on Wednesday, September 4th. They issued an “outperform” rating and a $45.00 target price for the company. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $43.43.

Spyre Therapeutics Price Performance

Shares of NASDAQ SYRE opened at $29.36 on Monday. The stock has a market capitalization of $1.18 billion, a P/E ratio of -0.41 and a beta of 2.92. Spyre Therapeutics, Inc. has a 1-year low of $8.43 and a 1-year high of $47.97. The business has a fifty day moving average price of $27.84 and a 200 day moving average price of $32.05.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.86) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.04. As a group, equities research analysts anticipate that Spyre Therapeutics, Inc. will post -3.68 earnings per share for the current fiscal 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).