EFG Asset Management North America Corp. Takes Position in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

EFG Asset Management North America Corp. purchased a new stake in Spyre Therapeutics, Inc. (NASDAQ:SYRE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 36,781 shares of the company’s stock, valued at approximately $869,000. EFG Asset Management North America Corp. owned 0.09% of Spyre Therapeutics as of its most recent SEC filing.

Separately, SG Americas Securities LLC acquired a new position in shares of Spyre Therapeutics in the 2nd quarter valued at $130,000. 80.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SYRE. Evercore ISI began coverage on Spyre Therapeutics in a research note on Tuesday, July 16th. They issued an “outperform” rating on the stock. BTIG Research upped their price objective on shares of Spyre Therapeutics from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Robert W. Baird started coverage on shares of Spyre Therapeutics in a research report on Thursday, May 2nd. They issued an “outperform” rating and a $50.00 price objective for the company. Finally, Wells Fargo & Company upped their price objective on shares of Spyre Therapeutics from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Spyre Therapeutics has an average rating of “Buy” and an average target price of $43.17.

Spyre Therapeutics Price Performance

SYRE stock traded up $0.80 during trading hours on Monday, reaching $26.33. 91,429 shares of the stock were exchanged, compared to its average volume of 510,314. The firm’s 50-day moving average is $26.75 and its 200-day moving average is $31.51. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -0.36 and a beta of 2.93. Spyre Therapeutics, Inc. has a 12 month low of $8.43 and a 12 month high of $47.97.

Spyre Therapeutics (NASDAQ:SYRE) last released its earnings results on Wednesday, August 7th. The company reported ($0.86) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.04. As a group, equities research analysts forecast that Spyre Therapeutics, Inc. will post -3.82 earnings per share 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).