Insider Selling: Spyre Therapeutics (NASDAQ:SYRE) CFO Sells $1,629,029.20 in Stock

Spyre Therapeutics, Inc. (NASDAQ:SYRE) CFO Scott Burrows sold 18,232 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $89.35, for a total value of $1,629,029.20. Following the completion of the sale, the chief financial officer directly owned 79,762 shares in the company, valued at approximately $7,126,734.70. This represents a 18.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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.

Spyre Therapeutics Price Performance

Shares of NASDAQ:SYRE opened at $88.98 on Friday. The business has a fifty day moving average price of $98.05 and a 200-day moving average price of $74.63. The company has a market capitalization of $7.82 billion, a PE ratio of -45.63 and a beta of 2.99. Spyre Therapeutics, Inc. has a 1-year low of $14.51 and a 1-year high of $110.18.

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, topping analysts’ consensus estimates of ($0.76) by $0.40. On average, sell-side analysts anticipate that Spyre Therapeutics, Inc. will post -2.62 earnings per share for the current fiscal year.

Key Spyre Therapeutics News

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. These events could provide updates on Spyre’s clinical programs, development strategy, and potential catalysts. Spyre Therapeutics to Participate in Upcoming September Investor Conferences
• Positive Sentiment: Spyre’s independent compensation committee approved stock options covering 2,106 shares and 745 restricted stock units for a new non-executive employee. The awards were intended to secure the employee’s acceptance and may support the company’s ability to recruit talent, although the equity issuance has a modest dilution effect. Spyre Therapeutics Announces Grants of Inducement Awards
• Neutral Sentiment: Spyre’s latest quarterly loss of $0.36 per share was better than the expected $0.76 loss. However, the company remains unprofitable, with analysts forecasting a full-year loss of approximately $2.62 per share. The earnings beat alone has not provided a lasting catalyst.
• Negative Sentiment: Several insiders reported sales totaling roughly 69,000 shares. CEO Cameron Turtle sold 15,000 shares, CFO Scott Burrows sold 25,732 shares, and Heidy King-Jones sold 28,399 shares. The transactions were made under pre-arranged Rule 10b5-1 plans; Burrows said his sales covered tax withholding obligations. Even so, the volume of selling—particularly King-Jones’s substantial reduction in ownership—could weigh on investor sentiment. Spyre Therapeutics Insider Trading
• Negative Sentiment: A Zacks report noted that SYRE had declined 16.6% since its latest earnings release, suggesting investors remain focused on the need for clinical progress and additional company-specific catalysts. Spyre Therapeutics Down 16.6% Since Last Earnings Report

Hedge Funds Weigh In On Spyre Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in SYRE. Capital International Investors raised its holdings in 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 purchasing an additional 1,100,000 shares during the period. Vanguard Group Inc. grew its holdings in Spyre Therapeutics by 32.3% during the fourth quarter. Vanguard Group Inc. now owns 4,035,074 shares of the company’s stock valued at $132,189,000 after purchasing an additional 984,344 shares during the period. Seven Grand Managers LLC purchased a new stake in Spyre Therapeutics in the fourth quarter worth about $3,276,000. UBS Group AG increased its position in Spyre Therapeutics by 76.5% in the fourth quarter. UBS Group AG now owns 680,566 shares of the company’s stock worth $22,295,000 after buying an additional 294,977 shares in the last quarter. Finally, Perceptive Advisors LLC raised its stake in shares of Spyre Therapeutics by 23.3% in the first 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 period. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SYRE. Weiss Ratings reiterated a “sell (d-)” rating on shares of Spyre Therapeutics in a research note on Tuesday. Wells Fargo & Company raised their price target on shares of Spyre Therapeutics from $90.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Spyre Therapeutics from $135.00 to $127.00 and set a “buy” rating for the company in a report on Wednesday, August 26th. Wedbush cut their target price on Spyre Therapeutics from $130.00 to $123.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 26th. Finally, Wolfe Research lowered Spyre Therapeutics from an “outperform” rating to a “peer perform” rating in a report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $109.69.

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.