The Manufacturers Life Insurance Company Acquires New Shares in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

The Manufacturers Life Insurance Company bought a new stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 37,782 shares of the company’s stock, valued at approximately $888,000. The Manufacturers Life Insurance Company owned 0.09% of Spyre Therapeutics at the end of the most recent quarter.

Several other large investors also recently modified their holdings of SYRE. Amalgamated Bank acquired a new stake in Spyre Therapeutics during the 2nd quarter worth approximately $28,000. Quest Partners LLC acquired a new stake in shares of Spyre Therapeutics in the 2nd quarter valued at about $36,000. SG Americas Securities LLC bought a new stake in shares of Spyre Therapeutics in the second quarter valued at about $130,000. Carlyle Group Inc. acquired a new position in shares of Spyre Therapeutics during the second quarter worth about $227,000. Finally, Profund Advisors LLC acquired a new stake in Spyre Therapeutics in the 2nd quarter valued at approximately $296,000. 80.39% of the stock is currently owned by institutional investors.

Spyre Therapeutics Price Performance

Shares of Spyre Therapeutics stock opened at $28.70 on Monday. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -0.40 and a beta of 2.92. The business has a fifty day simple moving average of $27.58 and a two-hundred day simple moving average of $30.62. Spyre Therapeutics, Inc. has a 1 year low of $8.43 and a 1 year high of $47.97.

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on SYRE. Evercore ISI began coverage on shares of Spyre Therapeutics in a report on Tuesday, July 16th. They issued an “outperform” rating on the stock. Wedbush initiated coverage on shares of Spyre Therapeutics in a research note on Wednesday, September 4th. They set an “outperform” rating and a $45.00 price objective for the company. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $43.43.

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).