Spyre Therapeutics (SYRE) Insider LLC Buys 666,680 Shares

Fairmount Funds Management LLC made a move on June 23, 2026, by purchasing 666,680 shares of Spyre Therapeutics, Inc. (NasdaqGS: SYRE). This transaction took place without a planned arrangement, aligning with the firm's ongoing interest in the biotechnology sector.

Other Institutional Activity in Spyre Therapeutics

FMR LLC increased its stake in Spyre Therapeutics by 142,205 shares, holding a total of 11,781,024 shares valued at about $594.2 million. BlackRock, Inc. slightly reduced its holdings by 880 shares, maintaining a total of 5,521,221 shares worth approximately $278.5 million. Meanwhile, Perceptive Advisors LLC significantly boosted its position by 714,000 shares, ending up with 3,783,225 shares valued at around $190.8 million.

Spyre Therapeutics, Inc. Stock Up 7.5%

On Wednesday, shares of Spyre Therapeutics traded near $100.32 on the NasdaqGS. The company boasts a market cap of approximately $8.71 billion and operates with a high beta of 3.063, indicating significant volatility. Despite its current position, Spyre is not yet profitable, reflected by its lack of a meaningful P/E ratio. The stock's 52-week range is between $14.00 and $101.71, with moving averages of $72.73 over 50 days and $40.89 over 200 days.

Insider Buying and Selling at Spyre Therapeutics, Inc.

On June 23, 2026, Fairmount Funds Management LLC was active, selling 4,684,781 shares at an average price of $85.31, alongside its purchase of 666,680 shares. Other insiders included Michael Thomas Henderson, who sold 20,000 shares on June 22, 2026, under a planned arrangement, and Sheldon Sloan, Chief Medical Officer, who sold 8,333 shares on June 3, 2026, also under a planned arrangement.

Analysts Set New Price Targets

Analysts have shown optimism towards Spyre Therapeutics. On June 23, 2026, Deutsche Bank maintained its buy rating with a new price target of $135. Earlier, BTIG reaffirmed its buy rating with a $112 target on June 16, 2026. The consensus among analysts remains strong, with 15 opinions supporting a strong buy recommendation and an average target price of $99.13.

About Spyre Therapeutics

Spyre Therapeutics, Inc., based in Waltham, Massachusetts, is a biotechnology company specializing in treatments for inflammatory bowel disease and rheumatic diseases. The company is advancing several clinical-stage programs, including SPY001 for ulcerative colitis and Crohn's disease. Under the leadership of CEO Dr. Cameron Turtle, Spyre continues to innovate in the healthcare sector, employing 112 people in its mission to develop effective therapeutics.

Bottom Line

Fairmount Funds Management's acquisition of Spyre Therapeutics shares underscores its interest in the biotech field. Investors often track such insider activities for potential insights, though these transactions are disclosed after the fact. Spyre Therapeutics remains a volatile yet promising player in the healthcare industry, with strong analyst support and ongoing clinical developments.