Spyre Therapeutics (NASDAQ:SYRE) Reaches New 12-Month High - Still a Buy?

Key Points

• Spyre Therapeutics hit a new 52-week high, trading as high as $110.58, up from its previous close of $103.86.
• Analyst views are mostly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $110.53, though some firms rate the stock a sell.
• The company missed quarterly earnings expectations, reporting a loss of $0.94 per share versus the $0.82 loss analysts expected; insiders also sold 138,064 shares over the past 90 days.

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) reached a new 52-week high during mid-day trading on Monday. The company traded as high as $110.58 and last traded at $110.5350, with a volume of 727,898 shares. The stock had previously closed at $103.86.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SYRE. Wall Street Zen lowered Spyre Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, October 31st. JPMorgan Chase & Co. started coverage on Spyre Therapeutics in a report on Thursday, October 1st. They issued an "overweight" rating and a $110.00 price objective for the company. UBS Group initiated coverage on Spyre Therapeutics in a research report on Sunday, October 11th. They set a "buy" rating and a $120.00 price objective for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Spyre Therapeutics in a research report on Tuesday, September 1st. Finally, Mizuho boosted their target price on shares of Spyre Therapeutics from $84.00 to $120.00 and gave the company an "outperform" rating in a report on Monday, July 13th. Two equities research analysts have 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.com, Spyre Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $110.53.

Spyre Therapeutics Trading Up 6.2%

The company's 50 day simple moving average is $89.79 and its 200-day simple moving average is $74.50. The firm has a market cap of $10.48 billion, a P/E ratio of -40.35 and a beta of 3.24.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.12). On average, sell-side analysts anticipate that Spyre Therapeutics, Inc. will post -2.78 earnings per share for the current year.

Insider Buying and Selling

In other Spyre Therapeutics news, insider Heidy King-Jones sold 28,933 shares of the stock in a transaction dated 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 transaction, the insider owned 2,845 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Cameron Turtle sold 15,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 537,540 shares in the company, valued at $49,459,055.40. The trade was a 2.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 138,064 shares of company stock valued at $12,349,518 over the last 90 days. Company insiders own 15.69% of the company's stock.

Institutional Trading of Spyre Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Perceptive Advisors LLC lifted its holdings in Spyre Therapeutics by 23.3% during the first quarter. Perceptive Advisors LLC now owns 3,783,225 shares of the company's stock valued at $190,826,000 after purchasing an additional 714,000 shares in the last quarter. Bank of America Corp DE increased its stake in Spyre Therapeutics by 192.6% in the 1st quarter. Bank of America Corp DE now owns 1,228,093 shares of the company's stock worth $61,945,000 after buying an additional 808,366 shares during the period. Candriam S.C.A. grew its holdings in Spyre Therapeutics by 43.4% in the first quarter. Candriam S.C.A. now owns 610,282 shares of the company's stock worth $30,783,000 after purchasing an additional 184,748 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Spyre Therapeutics during the 3rd quarter worth approximately $53,349,000. Finally, ADAR1 Capital Management LLC raised its position in Spyre Therapeutics by 893.6% during the 1st quarter. ADAR1 Capital Management LLC now owns 338,323 shares of the company's stock worth $17,065,000 after buying an additional 304,272 shares during the last quarter. 80.39% of the stock is currently owned by institutional investors.

About Spyre Therapeutics

Spyre Therapeutics is a clinical-stage biotechnology company developing antibody-based medicines for inflammatory bowel disease, including ulcerative colitis and Crohn's disease. Its research focuses on therapies designed to target immune pathways involved in these conditions.

The company's pipeline includes investigational antibodies targeting TL1A, IL-23 and integrin α4β7, as well as potential combinations of these approaches. Spyre has no approved products, and its candidates remain in development.

Spyre was formed in 2023 through a business combination with Aeglea BioTherapeutics, which subsequently adopted the Spyre Therapeutics name.

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