Spyre Therapeutics (NASDAQ:SYRE) Raised to Hold at Wall Street Zen

Spyre Therapeutics (NASDAQ:SYRE) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other analysts have also recently issued reports on SYRE. JPMorgan Chase & Co. assumed coverage on Spyre Therapeutics in a research report on Thursday. They issued an “overweight” rating and a $110.00 target price for the company. BTIG Research restated a “buy” rating and set a $121.00 target price on shares of Spyre Therapeutics in a research report on Thursday. Robert W. Baird set a $120.00 target price on shares of Spyre Therapeutics in a report on Wednesday, August 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Spyre Therapeutics in a research report on Tuesday, September 1st. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Spyre Therapeutics from $135.00 to $127.00 and set a “buy” rating for the company in a research note on Wednesday, August 26th. One equities research 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 given a Sell rating to the company. According to data from MarketBeat, Spyre Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $109.71.

Spyre Therapeutics Price Performance

NASDAQ SYRE opened at $93.19 on Friday. The firm’s fifty day moving average price is $95.71 and its 200 day moving average price is $81.70. Spyre Therapeutics has a 12 month low of $15.86 and a 12 month high of $110.18. 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 announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.40. As a group, sell-side analysts forecast that Spyre Therapeutics will post -2.71 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Scott L. Burrows sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $91.83, for a total transaction of $688,725.00. Following the completion of the sale, the chief financial officer owned 79,762 shares in the company, valued at $7,324,544.46. This represents a 8.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cameron Turtle sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $92.01, for a total value of $1,380,150.00. Following the sale, the chief executive officer owned 537,540 shares of the company’s stock, valued at $49,459,055.40. This trade represents a 2.71% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 183,564 shares of company stock valued at $16,903,193 over the last 90 days. Insiders own 15.69% of the company’s stock.

Hedge Funds Weigh In On Spyre Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Perceptive Advisors LLC raised its position in Spyre Therapeutics by 23.3% during the 1st quarter. Perceptive Advisors LLC now owns 3,783,225 shares of the company’s stock worth $190,826,000 after buying an additional 714,000 shares during the last quarter. Capital International Investors lifted its stake 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 worth $114,416,000 after acquiring an additional 1,100,000 shares during the period. Commodore Capital LP boosted its holdings in shares of Spyre Therapeutics by 20.1% in the fourth quarter. Commodore Capital LP now owns 2,388,245 shares of the company’s stock valued at $78,239,000 after acquiring an additional 400,161 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of 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 acquiring an additional 808,366 shares in the last quarter. Finally, Candriam S.C.A. increased its stake in shares of Spyre Therapeutics by 43.4% during the first quarter. Candriam S.C.A. now owns 610,282 shares of the company’s stock worth $30,783,000 after acquiring an additional 184,748 shares during the period. 80.39% of the stock is currently owned by hedge funds and other institutional investors.

Spyre Therapeutics News Summary

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

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).