Spyre Therapeutics (NASDAQ:SYRE) Stock Rating Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Spyre Therapeutics to “Hold” from “Sell,” while broader analyst sentiment remains “Moderate Buy,” with an average price target of $109.71.
• SYRE shares opened at $93.19 and have gained 3.6%; the company recently reported an adjusted quarterly loss of $0.36 per share, beating the consensus estimate of a $0.76 loss.
• Insiders sold $16.9 million of stock over the past three months, including sales by the CEO and a director. The transactions were conducted under pre-arranged Rule 10b5-1 plans, while institutional investors own 80.39% of the company.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday, Wall Street Zen reports.

Several other research analysts also recently commented on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Spyre Therapeutics in a report on Tuesday, September 1st. Robert W. Baird set a $120.00 price target on shares of Spyre Therapeutics in a report on Wednesday, August 5th. Mizuho increased their price objective on Spyre Therapeutics from $84.00 to $120.00 and gave the stock an "outperform" rating in a research report on Monday, July 13th. Wedbush reissued an "outperform" rating and set a $123.00 price objective on shares of Spyre Therapeutics in a research note on Wednesday, September 9th. Finally, Wolfe Research cut Spyre Therapeutics from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $109.71.

Spyre Therapeutics Stock Up 3.6%

SYRE stock opened at $93.19 on Friday. The firm has a market cap of $8.20 billion, a PE ratio of -47.79 and a beta of 3.10. The business has a 50 day moving average of $95.71 and a 200-day moving average of $81.43. Spyre Therapeutics has a 12-month low of $15.86 and a 12-month high of $110.18.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last posted its quarterly earnings data 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, research analysts expect that Spyre Therapeutics will post -2.71 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Cameron Turtle sold 15,000 shares of Spyre Therapeutics stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $92.01, for a total value of $1,380,150.00. Following the sale, the chief executive officer directly owned 537,540 shares in the company, valued at approximately $49,459,055.40. This trade represents a 2.71% decrease in their position. The sale was disclosed in a filing 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. Also, Director Jeffrey W. Albers sold 18,000 shares of Spyre Therapeutics stock in a transaction on Friday, August 7th. The shares were sold at an average price of $104.55, for a total transaction of $1,881,900.00. Following the completion of the sale, the director owned 9,360 shares in the company, valued at approximately $978,588. This trade represents a 65.79% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 183,564 shares of company stock worth $16,903,193. 15.69% of the stock is owned by company insiders.

Hedge Funds Weigh In On Spyre Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Engineers Gate Manager LP bought a new position in Spyre Therapeutics during the second quarter valued at approximately $3,416,000. Integrated Wealth Concepts LLC bought a new stake in Spyre Therapeutics in the 2nd quarter worth approximately $31,000. Maven Securities LTD bought a new stake in Spyre Therapeutics in the 2nd quarter worth approximately $3,551,000. Squarepoint Ops LLC purchased a new stake in Spyre Therapeutics during the 2nd quarter valued at $12,394,000. Finally, Arizona State Retirement System raised its stake in Spyre Therapeutics by 15.1% during the 2nd quarter. Arizona State Retirement System now owns 15,471 shares of the company's stock valued at $1,374,000 after buying an additional 2,033 shares during the last quarter. 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: 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).

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