Spyre Therapeutics (NASDAQ:SYRE) Trading Down 6.3% After Insider Selling

Spyre Therapeutics, Inc. (NASDAQ:SYRE) was down 6.3% during mid-day trading on Friday following insider selling activity. The stock traded as low as $69.84 and last traded at $69.7750. Approximately 925,243 shares were traded during trading, an increase of 1% from the average daily volume of 914,881 shares. The stock had previously closed at $74.45.

Specifically, CEO Cameron Turtle sold 15,000 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $71.37, for a total value of $1,070,550.00. Following the transaction, the chief executive officer owned 612,540 shares in the company, valued at $43,716,979.80. This represents a 2.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sheldon Sloan sold 78,333 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $71.50, for a total transaction of $5,600,809.50. Following the completion of the transaction, the insider directly owned 78,333 shares in the company, valued at approximately $5,600,809.50. The trade was a 50.00% 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 related news, CFO Scott L. Burrows sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $71.37, for a total transaction of $892,125.00. Following the completion of the sale, the chief financial officer directly owned 97,994 shares in the company, valued at approximately $6,993,831.78. The trade was a 11.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

SYRE has been the subject of several recent research reports. JonesTrading boosted their target price on shares of Spyre Therapeutics from $64.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Wells Fargo & Company boosted their target price on shares of Spyre Therapeutics from $50.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday, April 14th. Wall Street Zen lowered shares of Spyre Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. BTIG Research boosted their target price on shares of Spyre Therapeutics from $70.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Finally, Stifel Nicolaus boosted their target price on shares of Spyre Therapeutics from $70.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, March 18th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $85.08.

Spyre Therapeutics News Roundup

Here are the key news stories impacting Spyre Therapeutics this week:

• Positive Sentiment: Yahoo Finance ran a feature asking whether Spyre is one of the small-cap stocks “on fire,” highlighting recent momentum and investor interest that can support valuation and liquidity. Is Spyre Therapeutics (SYRE) One of the Small-Cap Stocks That Are On Fire Right Now?
• Neutral Sentiment: Spyre’s Compensation Committee approved inducement stock options totaling 20,800 shares for four non-executive hires — a common hiring tool; dilution is small but notable if hiring accelerates. Spyre Therapeutics Announces Grants of Inducement Awards
• Negative Sentiment: CEO Cameron Turtle sold 15,000 shares at ~$71.37 under a 10b5-1 plan (?$1.07M); although planned, large insider sales can signal executives taking profits after the run-up. SEC Form 4 — Cameron Turtle
• Negative Sentiment: Insider Sheldon Sloan sold 78,333 shares at ~$71.50 (~$5.6M), reducing his position by half via a 10b5-1 plan — a large, headline-grabbing sale that likely pressured sentiment. SEC Form 4 — Sheldon Sloan
• Negative Sentiment: CFO Scott L. Burrows sold 12,500 shares at ~$71.37 (~$892k) under a 10b5-1 plan, trimming ~11% of his holdings — another insider sale adding to downward pressure. SEC Form 4 — Scott L. Burrows

Spyre Therapeutics Stock Performance

The company’s fifty day moving average is $51.75 and its 200-day moving average is $37.49. The company has a market capitalization of $5.47 billion, a PE ratio of -33.38 and a beta of 3.12.

Spyre Therapeutics (NASDAQ:SYRE) last released its earnings results on Thursday, February 19th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.04). On average, sell-side analysts expect that Spyre Therapeutics, Inc. will post -2.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Spyre Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SYRE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Spyre Therapeutics by 18.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,018 shares of the company’s stock worth $442,000 after acquiring an additional 4,277 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Spyre Therapeutics by 13.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 47,279 shares of the company’s stock valued at $708,000 after buying an additional 5,723 shares in the last quarter. Rhumbline Advisers grew its holdings in Spyre Therapeutics by 30.6% during the 2nd quarter. Rhumbline Advisers now owns 73,168 shares of the company’s stock valued at $1,095,000 after buying an additional 17,145 shares in the last quarter. New York State Common Retirement Fund grew its holdings in Spyre Therapeutics by 61.4% during the 2nd quarter. New York State Common Retirement Fund now owns 16,565 shares of the company’s stock valued at $248,000 after buying an additional 6,300 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Spyre Therapeutics by 37.6% during the 2nd quarter. Invesco Ltd. now owns 34,680 shares of the company’s stock valued at $519,000 after buying an additional 9,473 shares in the last quarter. 80.39% of the stock is owned by hedge funds and other institutional investors.

About Spyre Therapeutics

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.