Spyre Therapeutics (NASDAQ:SYRE) CFO Sells $1,573,075.00 in Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CFO Scott Burrows sold 17,500 shares of the business’s stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $89.89, for a total transaction of $1,573,075.00. Following the transaction, the chief financial officer directly owned 79,762 shares of the company’s stock, valued at approximately $7,169,806.18. This represents a 17.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Spyre Therapeutics Stock Performance

SYRE opened at $93.19 on Monday. The business has a 50 day moving average of $95.71 and a 200-day moving average of $81.70. The stock has a market capitalization of $8.20 billion, a price-to-earnings ratio of -47.79 and a beta of 3.10. Spyre Therapeutics, Inc. has a 1-year low of $15.86 and a 1-year high of $110.18.

Spyre Therapeutics (NASDAQ:SYRE) last released its earnings results on Tuesday, August 4th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.40. Equities analysts predict that Spyre Therapeutics, Inc. will post -2.71 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SYRE shares. BTIG Research reiterated a “buy” rating and issued a $121.00 target price on shares of Spyre Therapeutics in a research note on Thursday. Wedbush reaffirmed an “outperform” rating and issued a $123.00 price target on shares of Spyre Therapeutics in a report on Wednesday, September 9th. Wells Fargo & Company raised their price objective on Spyre Therapeutics from $90.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. JPMorgan Chase & Co. initiated coverage on Spyre Therapeutics in a report on Thursday. They set an “overweight” rating and a $110.00 price objective on the stock. Finally, Wall Street Zen upgraded Spyre Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Spyre Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $109.71.

Spyre Therapeutics News Roundup

Here are the key news stories impacting Spyre Therapeutics this week:

• Positive Sentiment: Analyst support strengthened: BTIG Research reaffirmed its “buy” rating and assigned a $121 price target, while JPMorgan initiated coverage with an “overweight” rating and a $110 target. The recommendations imply meaningful potential upside from recent trading levels and provide positive validation for Spyre’s immunology pipeline. BTIG Research rating report
• Neutral Sentiment: Employee inducement awards announced: Spyre granted two new employees options covering 21,424 shares and 6,604 restricted stock units. The awards were required to support hiring and are not directly related to clinical or financial results, although they could modestly increase future share dilution. Spyre Therapeutics inducement awards announcement
• Negative Sentiment: Multiple insiders sold shares: CEO Cameron Turtle sold 15,000 shares, CFO Scott Burrows sold a combined 25,000 shares, and insider Heidy King-Jones sold 28,933 shares. The transactions represent notable reductions in ownership, particularly King-Jones’s roughly 91% decrease, which may raise caution about insider sentiment. However, all sales were executed under pre-arranged Rule 10b5-1 trading plans, reducing their significance as discretionary signals of declining confidence. Spyre insider trading filing

Institutional Investors Weigh In On Spyre Therapeutics

Large investors have recently made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Spyre Therapeutics during the 2nd quarter valued at about $999,000. Capital International Investors boosted its position in Spyre Therapeutics by 46.0% in the fourth quarter. Capital International Investors now owns 3,492,541 shares of the company’s stock valued at $114,416,000 after buying an additional 1,100,000 shares in the last quarter. Perceptive Advisors LLC grew its stake in Spyre Therapeutics by 23.3% during the first quarter. Perceptive Advisors LLC now owns 3,783,225 shares of the company’s stock worth $190,826,000 after buying an additional 714,000 shares during the last quarter. Handelsbanken Fonder AB bought a new stake in Spyre Therapeutics during the second quarter worth about $2,308,000. Finally, Maven Securities LTD acquired a new stake in shares of Spyre Therapeutics during the second quarter worth approximately $3,551,000. Institutional investors own 80.39% of the company’s stock.

Spyre Therapeutics Company Profile

Spyre Therapeutics, Inc is a clinical-stage biotechnology company focused on developing antibody therapeutics for inflammatory bowel disease (IBD), including ulcerative colitis and Crohn’s disease. The company is working to create next-generation biologic medicines intended to address significant treatment needs in these chronic gastrointestinal conditions.

Spyre’s pipeline includes programs directed at validated inflammatory pathways, including interleukin-23 (IL-23) and tumor necrosis factor-like ligand 1A (TL1A).