Spyre Therapeutics (NASDAQ:SYRE) Insider Sells $2,633,770.99 in Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) insider Heidy King-Jones sold 28,933 shares of the firm’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $91.03, for a total value of $2,633,770.99. Following the sale, the insider owned 2,845 shares in the company, valued at approximately $258,980.35. The trade was a 91.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Heidy King-Jones also recently made the following trade(s):

• On Tuesday, September 1st, Heidy King-Jones sold 27,999 shares of Spyre Therapeutics stock. The stock was sold at an average price of $87.31, for a total value of $2,444,592.69.
• On Wednesday, September 2nd, Heidy King-Jones sold 400 shares of Spyre Therapeutics stock. The stock was sold at an average price of $90.00, for a total value of $36,000.00.

Spyre Therapeutics Price Performance

Shares of NASDAQ:SYRE opened at $93.19 on Monday. Spyre Therapeutics, Inc. has a 52-week low of $15.86 and a 52-week high of $110.18. The company has a 50 day moving average of $95.71 and a two-hundred day moving average of $81.70. The company has a market capitalization of $8.20 billion, a price-to-earnings ratio of -47.79 and a beta of 3.10.

Spyre Therapeutics (NASDAQ:SYRE) last posted its earnings results on Tuesday, August 4th. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.40. On average, equities analysts anticipate that Spyre Therapeutics, Inc. will post -2.71 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on SYRE shares. BTIG Research restated a “buy” rating and set a $121.00 target price on shares of Spyre Therapeutics in a research note on Thursday. Mizuho boosted their price target on Spyre Therapeutics from $84.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Wells Fargo & Company increased their price target on Spyre Therapeutics from $90.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Robert W. Baird set a $120.00 price objective on Spyre Therapeutics in a research note on Wednesday, August 5th. Finally, Guggenheim upped their target price on Spyre Therapeutics from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. One 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 issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $109.71.

More Spyre Therapeutics News

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

Hedge funds and other institutional investors have recently modified their holdings of the stock. Perceptive Advisors LLC lifted its position in shares of 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 purchasing an additional 714,000 shares during the last quarter. Capital International Investors increased its holdings 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 during the last quarter. Commodore Capital LP raised its stake in Spyre Therapeutics by 20.1% during the fourth quarter. Commodore Capital LP now owns 2,388,245 shares of the company’s stock valued at $78,239,000 after buying an additional 400,161 shares in the last quarter. Bank of America Corp DE lifted its holdings in Spyre Therapeutics by 192.6% during the 1st quarter. Bank of America Corp DE now owns 1,228,093 shares of the company’s stock worth $61,945,000 after buying an additional 808,366 shares during the last quarter. Finally, Candriam S.C.A. lifted its holdings in Spyre Therapeutics by 43.4% during the 1st quarter. Candriam S.C.A. now owns 610,282 shares of the company’s stock worth $30,783,000 after buying an additional 184,748 shares during the last quarter. Institutional investors own 80.39% of the company’s stock.

About Spyre Therapeutics

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).