Adage Capital Partners GP L.L.C. Sells 25,000 Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Adage Capital Partners GP L.L.C. cut its position in Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,030,000 shares of the company’s stock after selling 25,000 shares during the period. Adage Capital Partners GP L.L.C.’s holdings in Spyre Therapeutics were worth $23,978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Huntington National Bank bought a new position in Spyre Therapeutics in the 4th quarter worth $34,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Spyre Therapeutics in the fourth quarter worth about $46,000. KLP Kapitalforvaltning AS bought a new position in shares of Spyre Therapeutics in the fourth quarter worth about $182,000. Tower Research Capital LLC TRC grew its position in shares of Spyre Therapeutics by 1,548.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,574 shares of the company’s stock worth $200,000 after purchasing an additional 8,054 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in Spyre Therapeutics by 38.4% during the 4th quarter. Arizona State Retirement System now owns 10,115 shares of the company’s stock valued at $235,000 after purchasing an additional 2,805 shares during the period. 80.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Spyre Therapeutics Stock Down 5.4 %

NASDAQ SYRE opened at $14.13 on Friday. 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 $851.70 million, a price-to-earnings ratio of -1.89 and a beta of 3.05. The company has a fifty day moving average of $16.57 and a two-hundred day moving average of $23.29.

Spyre Therapeutics (NASDAQ:SYRE) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.81) EPS for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.08. Equities research analysts anticipate that Spyre Therapeutics, Inc. will post -4.46 EPS 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).