Franklin Resources Inc. Boosts Stock Holdings in Spyre Therapeutics, Inc. (NASDAQ:SYRE)

Franklin Resources Inc. grew its position in Spyre Therapeutics, Inc. (NASDAQ:SYRE) by 2.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 760,666 shares of the company’s stock after acquiring an additional 18,762 shares during the quarter. Franklin Resources Inc. owned about 1.48% of Spyre Therapeutics worth $23,322,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Amalgamated Bank purchased a new position in Spyre Therapeutics in the 2nd quarter valued at $28,000. Quest Partners LLC acquired a new stake in shares of Spyre Therapeutics in the second quarter valued at about $36,000. SG Americas Securities LLC acquired a new stake in shares of Spyre Therapeutics in the second quarter valued at about $130,000. Carlyle Group Inc. purchased a new position in shares of Spyre Therapeutics in the second quarter worth about $227,000. Finally, Intech Investment Management LLC acquired a new position in Spyre Therapeutics during the third quarter worth about $246,000. 80.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on SYRE shares. Robert W. Baird raised their target price on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Guggenheim lifted their price objective on Spyre Therapeutics from $50.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Wedbush restated an “outperform” rating and issued a $45.00 target price on shares of Spyre Therapeutics in a report on Friday, November 8th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $51.50.

Spyre Therapeutics Stock Performance

SYRE opened at $23.13 on Friday. The business’s 50 day moving average price is $30.35 and its 200 day moving average price is $28.96. The stock has a market capitalization of $1.19 billion, a PE ratio of -3.10 and a beta of 2.82. Spyre Therapeutics, Inc. has a one year low of $15.41 and a one year high of $47.97.

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).