Spyre Therapeutics (NASDAQ:SYRE) Insider Heidy King-Jones Sells 28,933 Shares of Company Stock

Key Points

• Insider sale: Heidy King-Jones sold 28,933 Spyre Therapeutics shares for approximately $2.63 million at an average price of $91.03 under a pre-arranged Rule 10b5-1 plan. The sale reduced her ownership by 91.05%, leaving her with 2,845 shares.
• Stock performance: SYRE traded at $93.19, with an $8.20 billion market capitalization and a 52-week range of $15.86 to $110.18. The company reported a quarterly loss of $0.36 per share, better than the $0.76 analyst estimate.
• Analyst outlook: Wall Street maintains a “Moderate Buy” consensus, with an average price target of $109.71; several firms recently raised targets to between $110 and $130. Institutional investors own approximately 80.39% of the company.

Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) insider Heidy King-Jones sold 28,933 shares of Spyre Therapeutics stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $91.03, for a total value of $2,633,770.99. Following the sale, the insider owned 2,845 shares in the company, valued at $258,980.35. This represents a 91.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $87.31, for a total transaction of $2,444,592.69.
• 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 transaction of $36,000.00.

Spyre Therapeutics Price Performance

NASDAQ:SYRE traded up $3.26 during mid-day trading on Friday, reaching $93.19. The stock had a trading volume of 1,235,015 shares, compared to its average volume of 1,229,962. The company has a market capitalization of $8.20 billion, a price-to-earnings ratio of -47.79 and a beta of 3.10. Spyre Therapeutics, Inc. has a 1-year low of $15.86 and a 1-year high of $110.18. The stock's 50 day simple moving average is $95.71 and its two-hundred day simple moving average is $81.43.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.40. Sell-side analysts anticipate that Spyre Therapeutics, Inc. will post -2.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SYRE shares. Guggenheim increased their price objective on shares of Spyre Therapeutics from $115.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. JPMorgan Chase & Co. assumed coverage on Spyre Therapeutics in a research report on Thursday. They set an "overweight" rating and a $110.00 price target on the stock. BTIG Research reissued a "buy" rating and issued a $121.00 price target on shares of Spyre Therapeutics in a report on Thursday. Wells Fargo & Company upped their price objective on Spyre Therapeutics from $90.00 to $115.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. Finally, Wolfe Research lowered Spyre Therapeutics from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $109.71.

Institutional Trading of Spyre Therapeutics

Several large investors have recently added to or reduced their stakes in the business. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Spyre Therapeutics during the second quarter valued at $999,000. Capital International Investors grew its position in Spyre Therapeutics by 46.0% in the 4th quarter. Capital International Investors now owns 3,492,541 shares of the company's stock valued at $114,416,000 after buying an additional 1,100,000 shares in the last quarter. Perceptive Advisors LLC increased its stake in Spyre Therapeutics by 23.3% during the 1st quarter. Perceptive Advisors LLC now owns 3,783,225 shares of the company's stock valued at $190,826,000 after buying an additional 714,000 shares during the period. Handelsbanken Fonder AB acquired a new position in Spyre Therapeutics during the 2nd quarter valued at about $2,308,000. Finally, Maven Securities LTD bought a new stake in shares of Spyre Therapeutics during the 2nd quarter worth about $3,551,000. 80.39% of the stock is currently owned by institutional investors and hedge funds.

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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