Geode Capital Management LLC Purchases 125,214 Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Geode Capital Management LLC boosted its position in Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 16.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 891,048 shares of the company’s stock after acquiring an additional 125,214 shares during the period. Geode Capital Management LLC’s holdings in Spyre Therapeutics were worth $26,211,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Amalgamated Bank bought a new position in shares of Spyre Therapeutics in the 2nd quarter worth $28,000. Quest Partners LLC bought a new position in shares of Spyre Therapeutics in the second quarter valued at $36,000. Intech Investment Management LLC acquired a new position in shares of Spyre Therapeutics during the third quarter valued at about $246,000. Carlyle Group Inc. bought a new stake in shares of Spyre Therapeutics during the second quarter worth about $227,000. Finally, SG Americas Securities LLC raised its holdings in shares of Spyre Therapeutics by 127.0% in the 3rd quarter. SG Americas Securities LLC now owns 12,589 shares of the company’s stock worth $370,000 after acquiring an additional 7,044 shares during the last quarter. Institutional investors and hedge funds own 80.39% of the company’s stock.

Spyre Therapeutics Stock Up 3.1 %

Spyre Therapeutics stock opened at $24.07 on Friday. The firm has a 50 day moving average price of $29.59 and a 200-day moving average price of $28.57. Spyre Therapeutics, Inc. has a twelve month low of $18.54 and a twelve month high of $47.97. The company has a market capitalization of $1.24 billion, a P/E ratio of -3.22 and a beta of 2.82.

Wall Street Analyst Weigh In

SYRE has been the topic of a number of recent research reports. Robert W. Baird raised their target price on Spyre Therapeutics from $50.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Guggenheim lifted their price objective on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Wedbush reissued an “outperform” rating and set a $45.00 price target on shares of Spyre Therapeutics in a research report on Friday, November 8th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Spyre Therapeutics presently has a consensus rating of “Buy” and an average target price of $51.50.

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).