Spyre Therapeutics (NASDAQ:SYRE) Insider Sells $2,444,592.69 in Stock

by · The Markets Daily

Spyre Therapeutics, Inc. (NASDAQ:SYRE – Get Free Report) insider Heidy King-Jones sold 27,999 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $87.31, for a total value of $2,444,592.69. Following the completion of the transaction, the insider directly owned 2,845 shares in the company, valued at approximately $248,396.95. This trade represents a 90.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 Price Performance

SYRE stock opened at $88.98 on Friday. Spyre Therapeutics, Inc. has a 1-year low of $14.51 and a 1-year high of $110.18. The company has a market capitalization of $7.82 billion, a P/E ratio of -45.63 and a beta of 2.99. The business has a 50-day moving average price of $98.05 and a 200 day moving average price of $74.63.

Spyre Therapeutics (NASDAQ:SYRE – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.40. On average, analysts anticipate that Spyre Therapeutics, Inc. will post -2.62 earnings per share for the current fiscal year.

Key Stories Impacting 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. 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

Institutional investors and hedge funds have recently bought and sold shares of the company. Summit Securities Group LLC purchased a new stake in shares of Spyre Therapeutics during the 1st quarter valued at $28,000. GAMMA Investing LLC grew its stake in Spyre Therapeutics by 26.8% during the 2nd quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock worth $59,000 after buying an additional 140 shares during the last quarter. KBC Group NV purchased a new position in Spyre Therapeutics during the 1st quarter worth $69,000. Nykredit A S acquired a new position in Spyre Therapeutics during the 2nd quarter valued at about $173,000. Finally, Persistent Asset Partners Ltd acquired a new position in Spyre Therapeutics during the 4th quarter valued at about $74,000. 80.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SYRE. Wall Street Zen downgraded Spyre Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, August 16th. BTIG Research decreased their price objective on Spyre Therapeutics from $132.00 to $121.00 and set a “buy” rating for the company in a research note on Wednesday, August 26th. Deutsche Bank Aktiengesellschaft dropped their price objective on Spyre Therapeutics from $135.00 to $127.00 and set a “buy” rating on the stock in a research report on Wednesday, August 26th. Robert W. Baird set a $120.00 target price on Spyre Therapeutics in a research note on Wednesday, August 5th. Finally, Guggenheim boosted their target price on shares of Spyre Therapeutics from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.69.

Check Out Our Latest Report on Spyre Therapeutics

About Spyre Therapeutics

(Get Free Report)

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.

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