Scott Burrows Sells 7,500 Shares of Spyre Therapeutics (NASDAQ:SYRE) Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CFO Scott Burrows sold 7,500 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $87.31, for a total value of $654,825.00. Following the sale, the chief financial officer directly owned 97,994 shares of the company’s stock, valued at $8,555,856.14. The trade was a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 Trading Up 2.0%

NASDAQ:SYRE opened at $88.98 on Friday. Spyre Therapeutics, Inc. has a 12-month low of $14.51 and a 12-month high of $110.18. The stock’s 50 day simple moving average is $98.05 and its 200-day simple moving average is $74.63. The firm has a market cap of $7.82 billion, a P/E ratio of -45.63 and a beta of 2.99.

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

Wall Street Analysts Forecast Growth

SYRE has been the topic of several recent analyst reports. Robert W. Baird set a $120.00 target price on Spyre Therapeutics in a research report on Wednesday, August 5th. Wedbush decreased their price target on Spyre Therapeutics from $130.00 to $123.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 26th. Wells Fargo & Company upped their price objective on Spyre Therapeutics from $90.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Wall Street Zen cut Spyre Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, August 16th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Spyre Therapeutics from $135.00 to $127.00 and set a “buy” rating on the stock in a research report on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $109.69.

Key Headlines Impacting Spyre Therapeutics

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

Institutional Investors Weigh In On Spyre Therapeutics

Large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Spyre Therapeutics by 18.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,018 shares of the company’s stock worth $442,000 after acquiring an additional 4,277 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Spyre Therapeutics by 13.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 47,279 shares of the company’s stock worth $708,000 after purchasing an additional 5,723 shares in the last quarter. Rhumbline Advisers raised its position in shares of Spyre Therapeutics by 30.6% during the 2nd quarter. Rhumbline Advisers now owns 73,168 shares of the company’s stock worth $1,095,000 after purchasing an additional 17,145 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of Spyre Therapeutics by 61.4% during the 2nd quarter. New York State Common Retirement Fund now owns 16,565 shares of the company’s stock worth $248,000 after purchasing an additional 6,300 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Spyre Therapeutics by 37.6% in the 2nd quarter. Invesco Ltd. now owns 34,680 shares of the company’s stock valued at $519,000 after buying an additional 9,473 shares in the last quarter. 80.39% of the stock is owned by institutional investors and hedge funds.

About Spyre Therapeutics

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.