Wall Street Zen Downgrades Spyre Therapeutics (NASDAQ:SYRE) to Sell

Key Points

• Wall Street Zen downgraded Spyre Therapeutics (NASDAQ:SYRE) from "hold" to "sell", but the MarketBeat consensus remains a Buy with an average target of $85.08 after several firms raised price targets (BTIG $98, Wells Fargo $90, Deutsche Bank $88, Raymond James strong‑buy $80).
• Significant insider selling occurred recently—62,958 shares sold in the last 90 days including transactions by the CFO—leaving insiders with 15.69% ownership while institutional/hedge fund ownership sits at 80.39%.
• Spyre reported an earnings miss (quarterly EPS -$0.70 vs. -$0.66 est.), carries a negative P/E with analysts forecasting -2.8 EPS for the year, and trades around $69.67 with a $5.49 billion market cap and a one‑year range of $12.28–$75.00.

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

Other equities analysts also recently issued research reports about the stock. BTIG Research increased their price target on shares of Spyre Therapeutics from $70.00 to $98.00 and gave the stock a "buy" rating in a report on Monday, April 13th. Wells Fargo & Company lifted their price objective on shares of Spyre Therapeutics from $50.00 to $90.00 and gave the company an "overweight" rating in a research note on Tuesday, April 14th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Spyre Therapeutics in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Spyre Therapeutics from $55.00 to $88.00 and gave the stock a "buy" rating in a research note on Tuesday, April 14th. Finally, Raymond James Financial started coverage on shares of Spyre Therapeutics in a report on Monday, April 13th. They set a "strong-buy" rating and a $80.00 target price for the company. Two 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's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $85.08.

Spyre Therapeutics Stock Performance

Shares of SYRE opened at $69.67 on Friday. The stock has a 50-day moving average of $48.95 and a two-hundred day moving average of $36.02. The stock has a market cap of $5.49 billion, a P/E ratio of -33.50 and a beta of 2.93. Spyre Therapeutics has a one year low of $12.28 and a one year high of $75.00.

Spyre Therapeutics (NASDAQ:SYRE - Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The company reported ($0.70) earnings per share for the quarter, missing analysts' consensus estimates of ($0.66) by ($0.04). Analysts predict that Spyre Therapeutics will post -2.8 EPS for the current fiscal year.

Insider Activity at Spyre Therapeutics

In other Spyre Therapeutics news, CFO Scott L. Burrows sold 7,500 shares of the business's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $49.34, for a total value of $370,050.00. Following the completion of the transaction, the chief financial officer directly owned 97,994 shares of the company's stock, valued at approximately $4,835,023.96. The trade was a 7.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sheldon Sloan sold 7,958 shares of the company'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 owned 7,958 shares in the company, valued at approximately $397,900. This 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. Over the last ninety days, insiders sold 62,958 shares of company stock worth $2,734,375. 15.69% of the stock is owned by corporate insiders.

Institutional Trading of Spyre Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. Strs Ohio acquired a new position in shares of Spyre Therapeutics in the first quarter worth about $227,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Spyre Therapeutics during the 1st quarter valued at about $196,000. High Net Worth Advisory Group LLC purchased a new position in shares of Spyre Therapeutics in the 1st quarter valued at about $303,000. Invesco Ltd. increased its stake in shares of Spyre Therapeutics by 197.7% in the 4th quarter. Invesco Ltd. now owns 150,934 shares of the company's stock valued at $4,945,000 after purchasing an additional 100,232 shares in the last quarter. Finally, VARCOV Co. acquired a new position in Spyre Therapeutics in the 4th quarter worth about $262,000. 80.39% of the stock is owned by hedge funds and other institutional investors.

About Spyre Therapeutics

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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