UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stock Position in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 12.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,441 shares of the company’s stock after selling 3,680 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Spyre Therapeutics were worth $778,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of SYRE. Amalgamated Bank acquired a new position in shares of Spyre Therapeutics during the second quarter worth $28,000. Quest Partners LLC purchased a new stake in Spyre Therapeutics in the second quarter valued at about $36,000. SG Americas Securities LLC acquired a new stake in Spyre Therapeutics in the second quarter worth about $130,000. Carlyle Group Inc. purchased a new stake in shares of Spyre Therapeutics during the second quarter worth about $227,000. Finally, Intech Investment Management LLC acquired a new position in shares of Spyre Therapeutics during the third quarter valued at about $246,000. 80.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Wedbush reiterated an “outperform” rating and issued a $45.00 target price on shares of Spyre Therapeutics in a research note on Friday, November 8th. Robert W. Baird upped their target price on Spyre Therapeutics from $50.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, Guggenheim lifted their price target on Spyre Therapeutics from $50.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, Spyre Therapeutics has an average rating of “Buy” and a consensus price target of $51.50.

Spyre Therapeutics Price Performance

SYRE stock opened at $23.13 on Friday. The firm’s fifty day simple moving average is $30.35 and its 200-day simple moving average is $28.96. Spyre Therapeutics, Inc. has a 12 month low of $15.41 and a 12 month high of $47.97. The company has a market capitalization of $1.19 billion, a P/E ratio of -3.10 and a beta of 2.82.

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).