Braidwell LP Decreases Stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Braidwell LP reduced its position in Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 12.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,189,836 shares of the company’s stock after selling 324,702 shares during the period. Spyre Therapeutics makes up about 1.8% of Braidwell LP’s holdings, making the stock its 22nd biggest holding. Braidwell LP’s holdings in Spyre Therapeutics were worth $64,403,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Amalgamated Bank acquired a new stake in shares of Spyre Therapeutics in the 2nd quarter valued at about $28,000. Quest Partners LLC acquired a new stake in shares of Spyre Therapeutics in the 2nd quarter valued at about $36,000. SG Americas Securities LLC acquired a new stake in shares of Spyre Therapeutics in the 2nd quarter valued at about $130,000. Carlyle Group Inc. acquired a new stake in shares of Spyre Therapeutics in the 2nd quarter valued at about $227,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Spyre Therapeutics in the 3rd quarter valued at about $246,000. Institutional investors and hedge funds own 80.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SYRE. Robert W. Baird upped their target price on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Wedbush reiterated an “outperform” rating and set a $45.00 price objective on shares of Spyre Therapeutics in a research note on Friday, November 8th. Finally, Guggenheim increased their price objective on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Spyre Therapeutics has a consensus rating of “Buy” and an average price target of $48.57.

Spyre Therapeutics Trading Down 0.3 %

Shares of NASDAQ:SYRE opened at $27.75 on Friday. The firm’s 50 day moving average is $31.10 and its two-hundred day moving average is $29.95. Spyre Therapeutics, Inc. has a 52 week low of $10.42 and a 52 week high of $47.97. The firm has a market capitalization of $1.43 billion, a P/E ratio of -3.71 and a beta of 2.90.

About 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).