Spyre Therapeutics (NASDAQ:SYRE) Reaches New 12-Month High – Still a Buy?

Spyre Therapeutics, Inc. (NASDAQ:SYRE) shares reached a new 52-week high during mid-day trading on Monday. The stock traded as high as $110.58 and last traded at $110.5350, with a volume of 727,898 shares trading hands. The stock had previously closed at $103.86.

Wall Street Analysts Forecast Growth

SYRE has been the topic of several analyst reports. Wolfe Research lowered shares of Spyre Therapeutics from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, July 28th. Wells Fargo & Company upped their price objective on shares of Spyre Therapeutics from $90.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Wedbush lowered their target price on shares of Spyre Therapeutics from $123.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 4th. Guggenheim raised their target price on Spyre Therapeutics from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, November 4th. Finally, Mizuho lifted their price target on Spyre Therapeutics from $84.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Spyre Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $110.53.

Spyre Therapeutics Stock Performance

The firm’s 50 day simple moving average is $89.79 and its 200-day simple moving average is $74.50. The company has a market cap of $10.48 billion, a price-to-earnings ratio of -40.35 and a beta of 3.24.

Spyre Therapeutics (NASDAQ:SYRE) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.12). As a group, sell-side analysts expect that Spyre Therapeutics, Inc. will post -2.78 EPS for the current fiscal year.

Insider Transactions at Spyre Therapeutics

In other news, insider Heidy King-Jones sold 28,933 shares of the business’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $91.03, for a total transaction of $2,633,770.99. Following the transaction, the insider owned 2,845 shares of the company’s stock, valued at approximately $258,980.35. The trade was a 91.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Scott Burrows sold 18,232 shares of the business’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 completion of 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. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders have sold a total of 138,064 shares of company stock worth $12,349,518 in the last quarter. Company insiders own 15.69% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SYRE. Perceptive Advisors LLC grew its position in Spyre Therapeutics by 23.3% in the first quarter. Perceptive Advisors LLC now owns 3,783,225 shares of the company’s stock worth $190,826,000 after acquiring an additional 714,000 shares during the period. Bank of America Corp DE raised its position in Spyre Therapeutics by 192.6% in the first quarter. Bank of America Corp DE now owns 1,228,093 shares of the company’s stock valued at $61,945,000 after purchasing an additional 808,366 shares during the period. Candriam S.C.A. lifted its stake in shares of Spyre Therapeutics by 43.4% in the 1st quarter. Candriam S.C.A. now owns 610,282 shares of the company’s stock valued at $30,783,000 after purchasing an additional 184,748 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Spyre Therapeutics in the 3rd quarter valued at $53,349,000. Finally, ADAR1 Capital Management LLC lifted its stake in shares of Spyre Therapeutics by 893.6% in the 1st quarter. ADAR1 Capital Management LLC now owns 338,323 shares of the company’s stock valued at $17,065,000 after purchasing an additional 304,272 shares during the last quarter. 80.39% of the stock is currently owned by institutional investors and hedge funds.

About Spyre Therapeutics

Spyre Therapeutics is a clinical-stage biotechnology company developing antibody-based medicines for inflammatory bowel disease, including ulcerative colitis and Crohn’s disease. Its research focuses on therapies designed to target immune pathways involved in these conditions.

The company’s pipeline includes investigational antibodies targeting TL1A, IL-23 and integrin α4β7, as well as potential combinations of these approaches. Spyre has no approved products, and its candidates remain in development.

Spyre was formed in 2023 through a business combination with Aeglea BioTherapeutics, which subsequently adopted the Spyre Therapeutics name.