Quest Partners LLC Increases Stock Holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Quest Partners LLC grew its position in Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 271.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 5,654 shares of the company’s stock after purchasing an additional 4,131 shares during the period. Quest Partners LLC’s holdings in Spyre Therapeutics were worth $166,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SYRE. Amalgamated Bank acquired a new stake in shares of Spyre Therapeutics during the second quarter valued at $28,000. SG Americas Securities LLC acquired a new stake in shares of Spyre Therapeutics during the second quarter valued at $130,000. Carlyle Group Inc. acquired a new stake in shares of Spyre Therapeutics during the second quarter valued at $227,000. Profund Advisors LLC acquired a new stake in shares of Spyre Therapeutics during the second quarter valued at $296,000. Finally, TD Asset Management Inc acquired a new stake in shares of Spyre Therapeutics during the second quarter valued at $827,000. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Spyre Therapeutics Stock Performance

Shares of NASDAQ:SYRE opened at $27.75 on Thursday. The company has a market cap of $1.43 billion, a P/E ratio of -3.72 and a beta of 2.90. Spyre Therapeutics, Inc. has a one year low of $10.42 and a one year high of $47.97. The business’s 50-day simple moving average is $31.18 and its 200 day simple moving average is $29.98.

Analysts Set New Price Targets

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