B Group Inc. Buys Shares of 50,000 Spyre Therapeutics, Inc. (NASDAQ:SYRE)

B Group Inc. purchased a new position in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 50,000 shares of the company’s stock, valued at approximately $1,164,000. Spyre Therapeutics makes up approximately 0.7% of B Group Inc.’s holdings, making the stock its 12th biggest holding. B Group Inc. owned approximately 0.10% of Spyre Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in SYRE. Barclays PLC grew its holdings in Spyre Therapeutics by 64.7% during the 3rd quarter. Barclays PLC now owns 105,467 shares of the company’s stock worth $3,101,000 after acquiring an additional 41,424 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in Spyre Therapeutics in the fourth quarter worth about $290,000. Victory Capital Management Inc. acquired a new position in Spyre Therapeutics in the fourth quarter worth about $6,241,000. Jane Street Group LLC increased its holdings in Spyre Therapeutics by 78.7% in the third quarter. Jane Street Group LLC now owns 20,641 shares of the company’s stock valued at $607,000 after buying an additional 9,090 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Spyre Therapeutics by 16.4% during the third quarter. Geode Capital Management LLC now owns 891,048 shares of the company’s stock valued at $26,211,000 after buying an additional 125,214 shares in the last quarter. Institutional investors own 80.39% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on SYRE shares. The Goldman Sachs Group upgraded Spyre Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 18th. Wedbush reiterated an “outperform” rating and set a $65.00 target price on shares of Spyre Therapeutics in a research note on Monday, January 13th. Leerink Partners started coverage on shares of Spyre Therapeutics in a report on Tuesday, April 8th. They set an “outperform” rating and a $45.00 target price on the stock. Wolfe Research initiated coverage on shares of Spyre Therapeutics in a report on Tuesday, March 18th. They issued an “outperform” rating and a $27.00 price target for the company. Finally, Leerink Partnrs upgraded shares of Spyre Therapeutics to a “strong-buy” rating in a research note on Tuesday, April 8th. Eight research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Spyre Therapeutics has a consensus rating of “Buy” and a consensus target price of $49.57.

Spyre Therapeutics Stock Up 2.0 %

Spyre Therapeutics stock opened at $12.67 on Monday. The firm has a 50-day moving average price of $17.44 and a two-hundred day moving average price of $23.72. Spyre Therapeutics, Inc. has a 52-week low of $10.91 and a 52-week high of $40.49. The firm has a market capitalization of $763.70 million, a price-to-earnings ratio of -1.70 and a beta of 3.05.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.81) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $0.08. Research analysts expect that Spyre Therapeutics, Inc. will post -4.46 earnings per share for the current year.

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).