State Street Corp Boosts Holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

State Street Corp lifted its stake in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 9.4% in the third quarter, Holdings Channel reports. The firm owned 1,541,555 shares of the company’s stock after buying an additional 131,896 shares during the period. State Street Corp’s holdings in Spyre Therapeutics were worth $45,337,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Amalgamated Bank acquired a new stake in Spyre Therapeutics in the 2nd quarter worth about $28,000. Quest Partners LLC acquired a new stake in shares of Spyre Therapeutics in the second quarter worth approximately $36,000. SG Americas Securities LLC purchased a new stake in shares of Spyre Therapeutics during the second quarter worth approximately $130,000. Carlyle Group Inc. purchased a new stake in shares of Spyre Therapeutics during the second quarter worth approximately $227,000. Finally, Intech Investment Management LLC acquired a new position in Spyre Therapeutics in the 3rd quarter valued at $246,000. Institutional investors and hedge funds own 80.39% of the company’s stock.

Spyre Therapeutics Stock Down 0.1 %

NASDAQ SYRE opened at $23.13 on Friday. The business’s fifty day simple moving average is $30.35 and its 200-day simple moving average is $28.96. The firm has a market cap of $1.19 billion, a PE ratio of -3.10 and a beta of 2.82. Spyre Therapeutics, Inc. has a 52 week low of $15.41 and a 52 week high of $47.97.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wedbush reaffirmed an “outperform” rating and set a $45.00 target price on shares of Spyre Therapeutics in a research note on Friday, November 8th. Robert W. Baird boosted their price target on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Guggenheim upped 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. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $51.50.

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).