HighVista Strategies LLC Trims Holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

HighVista Strategies LLC lowered its stake in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 7.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm 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 investment portfolio, making the stock its 27th largest position. HighVista Strategies LLC owned 0.20% of Spyre Therapeutics worth $3,098,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in SYRE. Amalgamated Bank purchased a new position in shares of Spyre Therapeutics during the second quarter worth $28,000. Quest Partners LLC purchased a new position in Spyre Therapeutics during the 2nd quarter valued at about $36,000. SG Americas Securities LLC acquired a new position in Spyre Therapeutics in the 2nd quarter valued at about $130,000. Intech Investment Management LLC purchased a new stake in Spyre Therapeutics during the third quarter worth about $246,000. Finally, Carlyle Group Inc. acquired a new stake in shares of Spyre Therapeutics during the second quarter worth about $227,000. Institutional investors and hedge funds own 80.39% of the company’s stock.

Spyre Therapeutics Price Performance

Shares of NASDAQ:SYRE opened at $27.65 on Tuesday. Spyre Therapeutics, Inc. has a 12 month low of $14.22 and a 12 month high of $47.97. The firm has a market capitalization of $1.42 billion, a P/E ratio of -3.70 and a beta of 2.90. The company’s fifty day moving average price is $31.07 and its 200 day moving average price is $29.77.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Guggenheim upped their target price 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. Wedbush reiterated 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 target on Spyre Therapeutics from $50.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, Spyre Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $48.57.

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).