Intech Investment Management LLC Makes New $246,000 Investment in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Intech Investment Management LLC bought a new position in Spyre Therapeutics, Inc. (NASDAQ:SYRE) during the 3rd quarter, Holdings Channel.com reports. The fund bought 8,371 shares of the company’s stock, valued at approximately $246,000.

A number of other large investors have also made changes to their positions in SYRE. SG Americas Securities LLC purchased a new stake in Spyre Therapeutics during the second quarter valued at approximately $130,000. EFG Asset Management North America Corp. purchased a new stake in Spyre Therapeutics during the second quarter valued at approximately $869,000. Bank of New York Mellon Corp bought a new stake in shares of Spyre Therapeutics in the 2nd quarter valued at approximately $2,767,000. Rhumbline Advisers purchased a new position in Spyre Therapeutics during the second quarter worth $1,220,000. Finally, TD Asset Management Inc bought a new position in Spyre Therapeutics during the second quarter valued at $827,000. 80.39% of the stock is currently owned by institutional investors.

Spyre Therapeutics Price Performance

Shares of SYRE stock opened at $25.55 on Friday. The company has a market cap of $1.31 billion, a P/E ratio of -3.42 and a beta of 2.82. The stock’s 50-day moving average is $30.94 and its 200 day moving average is $29.59. Spyre Therapeutics, Inc. has a 1-year low of $14.22 and a 1-year high of $47.97.

Wall Street Analysts Forecast Growth

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