Wellington Management Group LLP lifted its position in Spyre Therapeutics, Inc. (NASDAQ:SYRE - Free Report) by 89.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,507,200 shares of the company's stock after acquiring an additional 711,254 shares during the quarter. Wellington Management Group LLP owned 2.93% of Spyre Therapeutics worth $44,327,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Amalgamated Bank purchased a new position in Spyre Therapeutics during the second quarter valued at approximately $28,000. Quest Partners LLC bought a new stake in Spyre Therapeutics during the 2nd quarter valued at $36,000. SG Americas Securities LLC purchased a new position in shares of Spyre Therapeutics in the 2nd quarter valued at $130,000. Carlyle Group Inc. bought a new position in shares of Spyre Therapeutics in the 2nd quarter worth $227,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Spyre Therapeutics during the 3rd quarter worth $246,000. 80.39% of the stock is owned by hedge funds and other institutional investors.
Shares of SYRE opened at $26.44 on Thursday. The stock has a 50-day moving average of $30.82 and a two-hundred day moving average of $29.32. The stock has a market cap of $1.36 billion, a P/E ratio of -3.54 and a beta of 2.82. Spyre Therapeutics, Inc. has a one year low of $14.22 and a one year high of $47.97.
SYRE has been the subject of several analyst reports. Guggenheim increased their price target on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Wedbush reaffirmed an "outperform" rating and issued a $45.00 price target on shares of Spyre Therapeutics in a report on Friday, November 8th. Finally, Robert W. Baird upped their price target on Spyre Therapeutics from $50.00 to $65.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $51.50.
Check Out Our Latest Research Report on 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).
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