Key Points
- CEO Cameron Turtle sold 15,000 Spyre Therapeutics shares at an average price of $87.29, generating approximately $1.31 million. The Rule 10b5-1 transaction reduced his ownership by 2.64%, leaving him with 552,540 shares valued at about $48.2 million.
- Spyre shares opened at $87.25, with a market capitalization of approximately $7.67 billion and a 52-week range of $14.51 to $110.18. The company reported quarterly EPS of negative $0.36, beating analysts’ estimate of negative $0.76.
- Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $109.69, although recent insider selling and a reported 16.6% decline since the latest earnings release remain potential concerns.
Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) insider Heidy King-Jones sold 400 shares of the firm's stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $90.00, for a total value of $36,000.00. Following the completion of the sale, the insider owned 2,845 shares of the company's stock, valued at approximately $256,050. This represents a 12.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Heidy King-Jones also recently made the following trade(s):
- On Tuesday, September 1st, Heidy King-Jones sold 27,999 shares of Spyre Therapeutics stock. The shares were sold at an average price of $87.31, for a total value of $2,444,592.69.
Spyre Therapeutics Stock Performance
SYRE stock opened at $87.25 on Friday. The stock's 50 day simple moving average is $98.03 and its 200 day simple moving average is $74.53. Spyre Therapeutics, Inc. has a fifty-two week low of $14.51 and a fifty-two week high of $110.18. The company has a market cap of $7.67 billion, a P/E ratio of -44.74 and a beta of 2.99.
Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.36) EPS for the quarter, beating analysts' consensus estimates of ($0.76) by $0.40. Equities analysts predict that Spyre Therapeutics, Inc. will post -2.62 earnings per share for the current year.
Institutional Trading of Spyre Therapeutics
Several institutional investors and hedge funds have recently made changes to their positions in SYRE. Allianz Asset Management GmbH bought a new position in shares of Spyre Therapeutics during the second quarter valued at about $1,252,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Spyre Therapeutics in the 2nd quarter worth about $999,000. California State Teachers Retirement System increased its stake in Spyre Therapeutics by 9,594.0% in the 2nd quarter. California State Teachers Retirement System now owns 5,742,912 shares of the company's stock valued at $509,856,000 after buying an additional 5,683,670 shares during the last quarter. Nykredit A S purchased a new stake in Spyre Therapeutics in the 2nd quarter valued at about $173,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Spyre Therapeutics during the 2nd quarter worth approximately $21,768,000. Hedge funds and other institutional investors own 80.39% of the company's stock.
Key Stories Impacting Spyre Therapeutics
Here are the key news stories impacting Spyre Therapeutics this week:
- Positive Sentiment: Management plans to 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 may offer updates on Spyre’s immunology programs and development strategy, potentially providing a near-term catalyst. Spyre Therapeutics to Participate in Upcoming September Investor Conferences
- Neutral Sentiment: The company’s CEO, CFO and insider Heidy King-Jones collectively reported selling approximately 69,000 shares on September 1–2. The transactions were conducted under pre-arranged Rule 10b5-1 trading plans, making them less reliable as discretionary signals about management’s current view of Spyre’s prospects.
- Negative Sentiment: The insider transactions may nevertheless weigh on sentiment. CEO Cameron Turtle sold 15,000 shares, CFO Scott Burrows sold 25,732 shares across two transactions, and King-Jones sold 28,399 shares. Burrows said his sales were intended to cover tax-withholding obligations related to vested equity awards, but King-Jones’s sales substantially reduced her remaining stake. Spyre Therapeutics Insider Selling
- Negative Sentiment: A Zacks report said SYRE has declined 16.6% since its latest earnings report, indicating continued caution after the quarterly update. Although Spyre exceeded consensus estimates with a quarterly loss of $0.36 per share versus expectations for a $0.76 loss, investors appear to be seeking additional clinical or corporate catalysts. Spyre Therapeutics Down 16.6% Since Last Earnings Report
Analyst Ratings Changes
Several research firms have weighed in on SYRE. Wedbush lowered their price objective on shares of Spyre Therapeutics from $130.00 to $123.00 and set an "outperform" rating on the stock in a report on Wednesday, August 26th. Robert W. Baird set a $120.00 price target on shares of Spyre Therapeutics in a research report on Wednesday, August 5th. BTIG Research cut their price target 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. Wells Fargo & Company boosted their price objective on Spyre Therapeutics from $90.00 to $115.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. Finally, Mizuho increased their price objective on Spyre Therapeutics from $84.00 to $120.00 and gave the stock an "outperform" rating in a research note on Monday, July 13th. 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 issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $109.69.
Read Our Latest Report on SYRE
About Spyre Therapeutics
(
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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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