Spyre Therapeutics, Inc. (NASDAQ:SYRE) Shares Sold by HighVista Strategies LLC

HighVista Strategies LLC trimmed its holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 7.2% during the third quarter, HoldingsChannel.com reports. The fund owned 105,351 shares of the company’s stock after selling 8,199 shares during the period. Spyre Therapeutics makes up approximately 1.1% of HighVista Strategies LLC’s holdings, making the stock its 27th largest holding. HighVista Strategies LLC’s holdings in Spyre Therapeutics were worth $3,098,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC grew its position in Spyre Therapeutics by 1.5% during the 3rd quarter. FMR LLC now owns 7,623,881 shares of the company’s stock worth $224,218,000 after purchasing an additional 115,898 shares during the last quarter. Perceptive Advisors LLC boosted its stake in shares of Spyre Therapeutics by 18.6% during the second quarter. Perceptive Advisors LLC now owns 3,031,018 shares of the company’s stock worth $71,259,000 after buying an additional 474,339 shares during the period. Avoro Capital Advisors LLC purchased a new position in shares of Spyre Therapeutics during the second quarter worth about $43,238,000. Assenagon Asset Management S.A. purchased a new position in shares of Spyre Therapeutics during the third quarter worth about $33,609,000. Finally, Driehaus Capital Management LLC acquired a new position in Spyre Therapeutics in the 2nd quarter valued at about $16,153,000. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Guggenheim lifted their target price on Spyre Therapeutics from $50.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Wedbush reissued an “outperform” rating and issued a $45.00 price objective on shares of Spyre Therapeutics in a research note on Friday, November 8th. Finally, Robert W. Baird upped their price objective on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, Spyre Therapeutics currently has an average rating of “Buy” and a consensus price target of $48.57.

Spyre Therapeutics Stock Performance

Spyre Therapeutics stock opened at $27.65 on Tuesday. The company has a market cap of $1.42 billion, a P/E ratio of -3.70 and a beta of 2.90. Spyre Therapeutics, Inc. has a one year low of $14.22 and a one year high of $47.97. The business has a fifty day moving average of $31.07 and a two-hundred day moving average of $29.77.

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).