Teachers Retirement System of The State of Kentucky Makes New Investment in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 21,154 shares of the company’s stock, valued at approximately $622,000.

A number of other hedge funds have also recently modified their holdings of the company. Amalgamated Bank purchased a new position in Spyre Therapeutics during the second quarter worth about $28,000. Quest Partners LLC purchased a new stake in shares of Spyre Therapeutics during the 2nd quarter valued at approximately $36,000. SG Americas Securities LLC purchased a new stake in shares of Spyre Therapeutics during the 2nd quarter valued at approximately $130,000. The Manufacturers Life Insurance Company lifted its holdings in Spyre Therapeutics by 15.0% in the third quarter. The Manufacturers Life Insurance Company now owns 43,460 shares of the company’s stock valued at $1,278,000 after acquiring an additional 5,678 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in Spyre Therapeutics in the third quarter worth approximately $246,000. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented 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 report on Friday, October 25th. Robert W. Baird boosted their price objective on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $45.00 target price on shares of Spyre Therapeutics in a research report on Friday, November 8th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $51.50.

Spyre Therapeutics Trading Down 8.3 %

Shares of NASDAQ SYRE opened at $23.16 on Thursday. The stock has a fifty day simple moving average of $30.43 and a 200-day simple moving average of $29.00. Spyre Therapeutics, Inc. has a twelve month low of $15.37 and a twelve month high of $47.97. The stock has a market capitalization of $1.19 billion, a PE ratio of -3.10 and a beta of 2.82.

Spyre Therapeutics Company 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).