Bank of New York Mellon Corp Raises Holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Bank of New York Mellon Corp increased its stake in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 10.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,240 shares of the company’s stock after purchasing an additional 10,552 shares during the period. Bank of New York Mellon Corp’s holdings in Spyre Therapeutics were worth $1,843,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC acquired a new stake in Spyre Therapeutics during the 1st quarter valued at $70,000. Wellington Management Group LLP raised its holdings in shares of Spyre Therapeutics by 6.5% in the fourth quarter. Wellington Management Group LLP now owns 1,604,508 shares of the company’s stock worth $37,353,000 after acquiring an additional 97,308 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of Spyre Therapeutics by 32.1% in the fourth quarter. California State Teachers Retirement System now owns 32,598 shares of the company’s stock valued at $759,000 after acquiring an additional 7,923 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Spyre Therapeutics during the fourth quarter valued at $2,844,000. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Spyre Therapeutics during the fourth quarter valued at $29,000. 80.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wedbush restated an “outperform” rating and issued a $65.00 target price on shares of Spyre Therapeutics in a report on Monday, May 5th. Leerink Partnrs raised shares of Spyre Therapeutics to a “strong-buy” rating in a research report on Tuesday, April 8th. Finally, Leerink Partners assumed coverage on shares of Spyre Therapeutics in a research note on Tuesday, April 8th. They set an “outperform” rating and a $45.00 price objective on the stock. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $53.40.

Spyre Therapeutics Price Performance

NASDAQ SYRE opened at $16.77 on Wednesday. The company has a market cap of $1.01 billion, a P/E ratio of -4.45 and a beta of 2.68. Spyre Therapeutics, Inc. has a 12 month low of $10.91 and a 12 month high of $40.26. The company has a 50-day moving average of $16.05 and a 200-day moving average of $17.20.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.74) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.02. As a group, equities research analysts anticipate that Spyre Therapeutics, Inc. will post -4.46 EPS for the current year.

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).