Spyre Therapeutics (NASDAQ:SYRE) Sees Large Volume Increase on Analyst Upgrade

Key Points

• Robert W. Baird raised its price target on Spyre to $90 (from $65) and kept an outperform rating, after which the stock traded around $65.44 with roughly 632,879 shares changing hands.
• Multiple firms have turned bullish—Raymond James, Jefferies, Deutsche Bank, Mizuho and others have initiated or raised coverage—leaving a consensus Buy rating and a consensus target of $82.50, aided by a positive Phase‑2 readout for SPY001.
• Spyre priced an upsized $403M public offering at $62 to extend runway, but the offering plus recent insider sales (about 62,958 shares sold last quarter) create near‑term dilution and selling‑pressure risk.

Spyre Therapeutics, Inc. (NASDAQ:SYRE - Get Free Report) saw unusually-high trading volume on Wednesday after Robert W. Baird raised their price target on the stock from $65.00 to $90.00. Robert W. Baird currently has an outperform rating on the stock. Approximately 632,879 shares changed hands during trading, a decline of 22% from the previous session's volume of 816,275 shares.The stock last traded at $65.4410 and had previously closed at $64.01.

SYRE has been the subject of several other research reports. Mizuho raised shares of Spyre Therapeutics to a "strong-buy" rating in a research report on Thursday, December 18th. Raymond James Financial assumed coverage on shares of Spyre Therapeutics in a research report on Monday. They set a "strong-buy" rating and a $80.00 price target on the stock. Citigroup assumed coverage on Spyre Therapeutics in a research note on Wednesday, December 17th. They issued a "buy" rating and a $64.00 price target for the company. Jefferies Financial Group upped their price objective on Spyre Therapeutics from $47.00 to $85.00 and gave the company a "buy" rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Spyre Therapeutics from $55.00 to $88.00 and gave the stock a "buy" rating in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $82.50.

Insiders Place Their Bets

In other news, CFO Scott L. Burrows sold 7,500 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $49.34, for a total transaction of $370,050.00. Following the sale, the chief financial officer directly owned 97,994 shares in the company, valued at approximately $4,835,023.96. This represents a 7.11% decrease in their position. 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. Also, insider Sheldon Sloan sold 7,958 shares of the firm's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $50.00, for a total value of $397,900.00. Following the completion of the sale, the insider directly owned 7,958 shares in the company, valued at approximately $397,900. This trade represents a 50.00% 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. Insiders have sold 62,958 shares of company stock valued at $2,734,375 over the last quarter. Insiders own 6.20% of the company's stock.

Trending Headlines about Spyre Therapeutics

Here are the key news stories impacting Spyre Therapeutics this week:

• Positive Sentiment: Positive Phase‑2 clinical readout for SPY001: mid‑stage data showed reduced disease activity, strong clinical and endoscopic responses and a clean safety profile—this underpins the “best‑in‑class” narrative that’s driving renewed investor interest. Spyre's inflammatory bowel drug shown to reduce disease activity in mid-stage study
• Positive Sentiment: Heavy analyst bullishness: Raymond James initiated coverage with a strong‑buy, and several firms (Leerink, BTIG, Baird, others) bumped targets substantially (range reported up to ~$106), signaling institutional conviction and supporting upward re‑rating risk. Raymond James initiates coverage BTIG Forecasts Strong Price Appreciation Leerink Partners Analyst Says Price Expected to Rise
• Positive Sentiment: Major capital raise priced: Spyre priced an upsized public offering of 6.5M shares at $62 to raise roughly $403M (plus a 30‑day option for additional shares). The proceeds should materially extend runway to advance SPY001 and other programs. Pricing of Upsized $403M Public Offering
• Neutral Sentiment: Offering mechanics and timing: the deal is expected to close around April 16, a Form S‑3 registration is effective, and multiple banks are bookrunners—standard execution details investors should watch for final close and share settlement. QuiverQuant Offering Summary
• Negative Sentiment: Dilution and near‑term selling pressure: multiple outlets noted immediate negative price impact from the offering announcement (previous reporting referenced a $300M offering reaction), and dilution risk is a clear short‑term headwind for the stock. Spyre stock falls on $300M offering
• Negative Sentiment: Reported insider sales: coverage summaries flag recent insider selling activity (multiple sales by executives), which can concern some investors about near‑term supply. QuiverQuant Insider Activity

Institutional Investors Weigh In On Spyre Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Spyre Therapeutics by 18.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,018 shares of the company's stock worth $442,000 after acquiring an additional 4,277 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Spyre Therapeutics by 13.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 47,279 shares of the company's stock valued at $708,000 after purchasing an additional 5,723 shares during the last quarter. Rhumbline Advisers boosted its stake in Spyre Therapeutics by 30.6% during the 2nd quarter. Rhumbline Advisers now owns 73,168 shares of the company's stock valued at $1,095,000 after purchasing an additional 17,145 shares during the period. New York State Common Retirement Fund grew its position in Spyre Therapeutics by 61.4% in the 2nd quarter. New York State Common Retirement Fund now owns 16,565 shares of the company's stock worth $248,000 after purchasing an additional 6,300 shares during the last quarter. Finally, Invesco Ltd. grew its position in Spyre Therapeutics by 37.6% in the 2nd quarter. Invesco Ltd. now owns 34,680 shares of the company's stock worth $519,000 after purchasing an additional 9,473 shares during the last quarter. 80.39% of the stock is currently owned by institutional investors.

Spyre Therapeutics Stock Up 2.6%

The firm's 50 day simple moving average is $43.04 and its 200 day simple moving average is $33.08. The company has a market cap of $5.17 billion, a price-to-earnings ratio of -31.54 and a beta of 2.93.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last issued its quarterly earnings data on Thursday, February 19th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.04). Analysts anticipate that Spyre Therapeutics, Inc. will post -4.46 EPS for the current fiscal year.

Spyre Therapeutics Company Profile

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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