Spyre Therapeutics (NASDAQ:SYRE) Stock Lifted to “Hold” by Wall Street Zen

Wall Street Zen upgraded shares of Spyre Therapeutics (NASDAQ:SYRE) from a sell rating to a hold rating in a report published on Saturday,Wall Street Zen reports.

SYRE has been the topic of a number of other research reports. Robert W. Baird set a $120.00 target price on shares of Spyre Therapeutics in a research note on Wednesday, August 5th. Wells Fargo & Company upped their price target 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. BTIG Research reissued a “buy” rating and issued a $121.00 price objective on shares of Spyre Therapeutics in a research note on Thursday. Wolfe Research downgraded shares of Spyre Therapeutics from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, July 28th. Finally, Mizuho raised their price objective on shares of Spyre Therapeutics from $84.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Spyre Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $109.71.

Spyre Therapeutics Stock Up 3.6%

Shares of SYRE opened at $93.19 on Friday. The business has a 50-day simple moving average of $95.71 and a two-hundred day simple moving average of $81.43. Spyre Therapeutics has a 52 week low of $15.86 and a 52 week high of $110.18. The stock has a market cap 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 quarterly earnings data 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. On average, equities analysts anticipate that Spyre Therapeutics will post -2.71 earnings per share for the current fiscal year.

Insider Activity at Spyre Therapeutics

In other news, CEO Cameron Turtle sold 15,000 shares of the business’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $92.01, for a total value of $1,380,150.00. Following the transaction, the chief executive officer owned 537,540 shares of the company’s stock, valued at approximately $49,459,055.40. The trade was a 2.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Heidy King-Jones sold 28,933 shares of the company’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $91.03, for a total transaction of $2,633,770.99. Following the transaction, the insider owned 2,845 shares of the company’s stock, valued at approximately $258,980.35. This represents a 91.05% 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. In the last 90 days, insiders sold 183,564 shares of company stock valued at $16,903,193. Corporate insiders own 15.69% of the company’s stock.

Institutional Trading of Spyre Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of SYRE. GAMMA Investing LLC boosted its position in shares of Spyre Therapeutics by 26.8% during the 2nd quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock valued at $59,000 after acquiring an additional 140 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in Spyre Therapeutics in the second quarter worth $31,000. Summit Securities Group LLC bought a new stake in Spyre Therapeutics in the first quarter worth $28,000. Royal Bank of Canada raised its stake in Spyre Therapeutics by 63.5% during the first quarter. Royal Bank of Canada now owns 3,250 shares of the company’s stock valued at $164,000 after purchasing an additional 1,262 shares in the last quarter. Finally, KBC Group NV purchased a new stake in Spyre Therapeutics during the first quarter valued at $69,000. 80.39% of the stock is currently owned by institutional investors.

Key Headlines Impacting Spyre Therapeutics

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).