Spyre Therapeutics (NASDAQ:SYRE) Insider Heidy King-Jones Sells 27,999 Shares of Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) insider Heidy King-Jones sold 27,999 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $87.31, for a total value of $2,444,592.69. Following the transaction, the insider directly owned 2,845 shares in the company, valued at $248,396.95. This trade represents a 90.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 Trading Up 0.2%

Shares of NASDAQ:SYRE opened at $87.25 on Friday. Spyre Therapeutics, Inc. has a 1-year low of $14.51 and a 1-year high of $110.18. The stock has a market capitalization of $7.67 billion, a P/E ratio of -44.74 and a beta of 2.99. The business has a 50-day moving average price of $98.03 and a two-hundred day moving average price of $74.53.

Spyre Therapeutics (NASDAQ:SYRE) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.40. As a group, equities analysts predict that Spyre Therapeutics, Inc. will post -2.62 EPS for the current year.

Trending Headlines about 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. Investor meetings and fireside chats could provide updates on Spyre’s clinical pipeline and development plans, potentially helping restore investor confidence. Spyre Therapeutics to Participate in Upcoming September Investor Conferences
• Neutral Sentiment: Spyre’s chief executive, chief financial officer and insider Heidy King-Jones collectively reported sales of approximately 69,000 shares during September 1–2. The transactions were made under pre-arranged Rule 10b5-1 plans, reducing their significance as discretionary signals about the company’s outlook.
• Negative Sentiment: The insider selling is nevertheless a potential overhang. CEO Cameron Turtle sold 15,000 shares, while CFO Scott Burrows sold 25,732 shares in two transactions. Burrows said his sales were made to cover tax-withholding obligations tied to vested equity awards. King-Jones sold 28,399 shares and was left with a substantially smaller position, which could reinforce concerns about insider confidence even though the sales were prearranged. CEO SEC filing CFO SEC filing
• Negative Sentiment: A Zacks review notes that SYRE has declined 16.6% since its latest earnings report, indicating that investors remain cautious following the quarterly update and are looking for new clinical or corporate catalysts before bidding the stock higher. Spyre Therapeutics Down 16.6% Since Last Earnings Report

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SYRE. Wells Fargo & Company raised their price target on 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 Spyre Therapeutics from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, July 28th. Mizuho raised their target price on Spyre Therapeutics from $84.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. BTIG Research decreased their target price on Spyre Therapeutics from $132.00 to $121.00 and set a “buy” rating for the company in a research report on Wednesday, August 26th. Finally, Robert W. Baird set a $120.00 target price on Spyre Therapeutics in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $109.69.

Institutional Investors Weigh In On Spyre Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Summit Securities Group LLC acquired a new position in Spyre Therapeutics in the 1st quarter worth $28,000. GAMMA Investing LLC raised its stake in shares of Spyre Therapeutics by 26.8% in the 2nd quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock valued at $59,000 after purchasing an additional 140 shares during the period. KBC Group NV bought a new stake in shares of Spyre Therapeutics in the first quarter valued at about $69,000. Nykredit A S bought a new stake in shares of Spyre Therapeutics in the second quarter valued at about $173,000. Finally, Persistent Asset Partners Ltd acquired a new position in shares of Spyre Therapeutics during the fourth quarter worth about $74,000. 80.39% of the stock is owned by institutional investors.

Spyre Therapeutics Company Profile

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.