Spyre Therapeutics (NASDAQ:SYRE) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of Spyre Therapeutics (NASDAQ:SYRE) in a research report released on Thursday morning, Marketbeat reports. The firm issued an overweight rating and a $110.00 price objective on the stock.

SYRE has been the subject of a number of other reports. Guggenheim upped their price objective on shares of Spyre Therapeutics from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Wells Fargo & Company lifted their target price 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. Wolfe Research lowered shares of Spyre Therapeutics from an “outperform” rating to a “peer perform” rating in a report on Tuesday, July 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Spyre Therapeutics in a research report on Tuesday, September 1st. Finally, Mizuho raised their price objective on shares of Spyre Therapeutics from $84.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $109.71.

Spyre Therapeutics Trading Up 3.6%

SYRE stock opened at $93.19 on Thursday. The firm’s 50-day moving average is $95.71 and its two-hundred day moving average is $81.43. 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 has a 52 week low of $15.86 and a 52 week high of $110.18.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings results 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. On average, equities research analysts predict that Spyre Therapeutics will post -2.71 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Scott Burrows sold 18,232 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $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 is available 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. Also, Director Jeffrey Albers sold 18,000 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $104.55, for a total transaction of $1,881,900.00. Following the transaction, the director directly owned 9,360 shares of the company’s stock, valued at $978,588. This represents a 65.79% decrease in their position. 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. Over the last three months, insiders have sold 183,564 shares of company stock valued at $16,903,193. Company insiders own 15.69% of the company’s stock.

Institutional Investors Weigh In On Spyre Therapeutics

Several large investors have recently modified their holdings of the stock. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Spyre Therapeutics in the second quarter worth $999,000. Capital International Investors grew its holdings in shares of Spyre Therapeutics by 46.0% in the 4th 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 period. Perceptive Advisors LLC grew its holdings in shares of Spyre Therapeutics by 23.3% in the 1st quarter. Perceptive Advisors LLC now owns 3,783,225 shares of the company’s stock valued at $190,826,000 after buying an additional 714,000 shares during the period. Handelsbanken Fonder AB bought a new stake in shares of Spyre Therapeutics in the 2nd quarter valued at $2,308,000. Finally, Maven Securities LTD bought a new stake in shares of Spyre Therapeutics in the 2nd quarter valued at $3,551,000. 80.39% of the stock is currently owned by institutional investors.

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

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).