Scott Burrows Sells 18,232 Shares of Spyre Therapeutics (NASDAQ:SYRE) Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CFO Scott Burrows sold 18,232 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $89.35, for a total transaction of $1,629,029.20. Following the transaction, the chief financial officer owned 79,762 shares in the company, valued at $7,126,734.70. The trade was a 18.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Spyre Therapeutics Stock Performance

SYRE opened at $88.98 on Friday. The stock’s 50 day moving average price is $98.05 and its 200-day moving average price is $74.63. Spyre Therapeutics, Inc. has a one year low of $14.51 and a one year high of $110.18. The stock has a market cap of $7.82 billion, a price-to-earnings ratio of -45.63 and a beta of 2.99.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.40. As a group, analysts predict that Spyre Therapeutics, Inc. will post -2.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SYRE shares. Wedbush decreased their price objective on shares of Spyre Therapeutics from $130.00 to $123.00 and set an “outperform” rating for the company in a report on Wednesday, August 26th. BTIG Research decreased their price target on shares of Spyre Therapeutics from $132.00 to $121.00 and set a “buy” rating for the company in a research note on Wednesday, August 26th. Deutsche Bank Aktiengesellschaft dropped their price objective on Spyre Therapeutics from $135.00 to $127.00 and set a “buy” rating on the stock in a research note on Wednesday, August 26th. Wall Street Zen downgraded Spyre Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, August 16th. Finally, Robert W. Baird set a $120.00 target price on Spyre Therapeutics in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Spyre Therapeutics has an average rating of “Moderate Buy” and an average price target of $109.69.

More Spyre Therapeutics News

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

• Positive Sentiment: Management will participate in the Citi BioPharma Back to School Conference on September 9, the Wells Fargo Healthcare Conference on September 10, and the Stifel Immunology and Inflammation Forum on September 23. These events could provide updates on Spyre’s clinical programs, development strategy, and potential catalysts. Spyre Therapeutics to Participate in Upcoming September Investor Conferences
• Positive Sentiment: Spyre’s independent compensation committee approved stock options covering 2,106 shares and 745 restricted stock units for a new non-executive employee. The awards were intended to secure the employee’s acceptance and may support the company’s ability to recruit talent, although the equity issuance has a modest dilution effect. Spyre Therapeutics Announces Grants of Inducement Awards
• Neutral Sentiment: Spyre’s latest quarterly loss of $0.36 per share was better than the expected $0.76 loss. However, the company remains unprofitable, with analysts forecasting a full-year loss of approximately $2.62 per share. The earnings beat alone has not provided a lasting catalyst.
• Negative Sentiment: Several insiders reported sales totaling roughly 69,000 shares. CEO Cameron Turtle sold 15,000 shares, CFO Scott Burrows sold 25,732 shares, and Heidy King-Jones sold 28,399 shares. The transactions were made under pre-arranged Rule 10b5-1 plans; Burrows said his sales covered tax withholding obligations. Even so, the volume of selling—particularly King-Jones’s substantial reduction in ownership—could weigh on investor sentiment. Spyre Therapeutics Insider Trading
• Negative Sentiment: A Zacks report noted that SYRE had declined 16.6% since its latest earnings release, suggesting investors remain focused on the need for clinical progress and additional company-specific catalysts. Spyre Therapeutics Down 16.6% Since Last Earnings Report

Hedge Funds Weigh In On Spyre Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Allianz Asset Management GmbH purchased a new position in Spyre Therapeutics during the second quarter valued at approximately $1,252,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Spyre Therapeutics during the second quarter worth $999,000. California State Teachers Retirement System boosted its position in Spyre Therapeutics by 9,594.0% during the 2nd quarter. California State Teachers Retirement System now owns 5,742,912 shares of the company’s stock valued at $509,856,000 after acquiring an additional 5,683,670 shares in the last quarter. Nykredit A S purchased a new position in shares of Spyre Therapeutics in the 2nd quarter valued at $173,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Spyre Therapeutics in the 2nd quarter valued at $21,768,000. 80.39% of the stock is currently owned by institutional investors.

Spyre Therapeutics Company Profile

Spyre Therapeutics, Inc is a clinical-stage biotechnology company focused on the discovery and development of novel immunotherapies for cancer. The company leverages proprietary protein engineering and biologics design platforms to create targeted molecules intended to enhance anti-tumor immune responses and inhibit tumor growth. Its preclinical pipeline comprises multiple candidate therapies for solid tumor and hematologic oncology indications.

Established by a team with deep expertise in protein design, immunology and translational research, Spyre Therapeutics collaborates with leading academic institutions and research organizations to accelerate its discovery efforts.