Spyre Therapeutics (NASDAQ:SYRE) Shares Gap Down – Time to Sell?

Posted by Stanley Muller on Sep 10th, 2026

Spyre Therapeutics, Inc. (NASDAQ:SYRE – Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $88.98, but opened at $85.00. Spyre Therapeutics shares last traded at $87.9320, with a volume of 98,627 shares.

Key Headlines Impacting Spyre Therapeutics

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

Positive Sentiment: Positive Phase 2 SPY003 results: Spyre reported that its anti-IL-23 antibody, SPY003, met the primary endpoint in the SKYLINE ulcerative colitis study, delivering a statistically significant reduction in disease activity. The company characterized the results as potentially best-in-class and said they complete proof-of-concept for all three components of its planned IBD combination therapies. Spyre SPY003 SKYLINE trial announcement
Positive Sentiment: Strategic pipeline validation: The SPY003 data strengthen Spyre’s multi-mechanism IBD platform by providing clinical validation for the third component of its combination approach. Additional reports described the results as a potentially important competitive milestone for the company. Zacks SPY003 ulcerative colitis study
Positive Sentiment: Analysts remain bullish: Wedbush reaffirmed its “outperform” rating with a $123 price target, while BTIG reiterated its “buy” rating with a $121 target. Both targets indicate meaningful upside from the referenced $86.93 share price. Wedbush rating update BTIG rating update
Positive Sentiment: Investor visibility: Spyre presented at Citigroup’s Biopharma Back to School Summit, giving management an opportunity to discuss the pipeline and recent SPY003 results with institutional investors. Spyre Citigroup summit transcript
Neutral Sentiment: The favorable data are still from a Phase 2 study; further development, larger studies, regulatory review and commercial execution remain important risks. The supplied articles do not report a new negative development.

Analysts Set New Price Targets

Several research analysts have commented on SYRE shares. Mizuho raised their target price on shares of Spyre Therapeutics from $84.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Wells Fargo & Company boosted their price target on shares of Spyre Therapeutics from $90.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Wedbush restated an “outperform” rating and issued a $123.00 price target on shares of Spyre Therapeutics in a research report on Wednesday. Robert W. Baird set a $120.00 price objective on shares of Spyre Therapeutics in a research note on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Spyre Therapeutics from $135.00 to $127.00 and set a “buy” rating for the company in a research note on Wednesday, August 26th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $109.69.

Check Out Our Latest Stock Analysis on Spyre Therapeutics

Spyre Therapeutics Price Performance

The stock has a market cap of $7.64 billion, a price-to-earnings ratio of -44.58 and a beta of 2.99. The business has a fifty day moving average of $98.03 and a 200 day moving average of $76.00.

Spyre Therapeutics (NASDAQ:SYRE – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.40. On average, analysts expect that Spyre Therapeutics, Inc. will post -2.71 EPS for the current year.

Insider Transactions at Spyre Therapeutics

In related news, CFO Scott Burrows sold 18,232 shares of the company’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $89.35, for a total value of $1,629,029.20. Following the completion of the transaction, the chief financial officer directly owned 79,762 shares in the company, valued at approximately $7,126,734.70. This represents a 18.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Michael Henderson sold 20,000 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $100.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the director owned 68,606 shares of the company’s stock, valued at approximately $6,860,600. This represents a 22.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 180,465 shares of company stock worth $16,638,714. 15.69% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Summit Securities Group LLC acquired a new position in Spyre Therapeutics during the 1st quarter worth $28,000. Integrated Wealth Concepts LLC bought a new stake in shares of Spyre Therapeutics during the second quarter worth $31,000. GAMMA Investing LLC raised its position in shares of Spyre Therapeutics by 26.8% during the second quarter. GAMMA Investing LLC now owns 663 shares of the company’s stock worth $59,000 after acquiring an additional 140 shares during the last quarter. KBC Group NV acquired a new position in shares of Spyre Therapeutics during the first quarter valued at $69,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of Spyre Therapeutics by 2,881.7% during the third quarter. Russell Investments Group Ltd. now owns 4,234 shares of the company’s stock valued at $71,000 after acquiring an additional 4,092 shares during the period. Institutional investors own 80.39% of the company’s stock.

Spyre Therapeutics Company Profile

(Get Free Report)

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.