Spyre Therapeutics’ (SYRE) “Buy” Rating Reiterated at BTIG Research

BTIG Research reiterated their buy rating on shares of Spyre Therapeutics (NASDAQ:SYRE) in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a $121.00 price objective on the stock.

Other analysts have also issued reports about the stock. Wedbush reiterated an “outperform” rating and set a $123.00 target price on shares of Spyre Therapeutics in a research report on Wednesday, September 9th. Mizuho raised their price target 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. Wolfe Research downgraded Spyre Therapeutics from an “outperform” rating to a “peer perform” rating in a report on Tuesday, July 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Spyre Therapeutics in a research note on Tuesday, September 1st. Finally, Robert W. Baird set a $120.00 target price on Spyre Therapeutics in a report on Wednesday, August 5th. 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, Spyre Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $109.71.

Spyre Therapeutics Price Performance

Shares of SYRE stock opened at $93.19 on Thursday. Spyre Therapeutics has a one year low of $15.86 and a one year high of $110.18. The stock has a fifty day moving average price of $95.71 and a 200 day moving average price of $81.43. The stock has a market cap of $8.20 billion, a P/E 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 (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.40. Equities research analysts anticipate that Spyre Therapeutics will post -2.71 EPS for the current year.

Insider Activity

In related news, CFO Scott Burrows sold 7,500 shares of the stock in a transaction dated Thursday, October 1st. The shares were 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 trade represents a 8.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Heidy King-Jones sold 28,933 shares of Spyre Therapeutics stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $91.03, for a total transaction of $2,633,770.99. Following the transaction, the insider directly owned 2,845 shares of the company’s stock, valued at $258,980.35. This represents a 91.05% decrease in their ownership of the stock. 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. Insiders sold a total of 183,564 shares of company stock worth $16,903,193 in the last quarter. 15.69% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of Spyre Therapeutics by 26.8% in the 2nd quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock worth $59,000 after acquiring an additional 140 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Spyre Therapeutics during the 2nd quarter valued at $31,000. Summit Securities Group LLC acquired a new stake in Spyre Therapeutics during the 1st quarter valued at $28,000. Royal Bank of Canada raised its position in Spyre Therapeutics by 63.5% in the 1st 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 during the last quarter. Finally, KBC Group NV bought a new position in Spyre Therapeutics in the 1st quarter valued at $69,000. Institutional investors own 80.39% of the company’s stock.

Key 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

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).