Spyre Therapeutics’ chief legal officer sells $2.63m in shares

Heidy King-Jones, Chief Legal Officer and Corporate Secretary at Spyre Therapeutics, Inc. (NASDAQ:SYRE), sold shares totaling approximately $2,633,901 on October 1, 2026. The sales involved 28,933 shares of common stock at prices ranging between $89.24 and $93.46 per share. The stock has surged 487% over the past year, though InvestingPro analysis suggests the shares may be overvalued at current levels, with the company appearing on the most overvalued stocks list.

Concurrently, Ms. King-Jones acquired 28,933 shares of common stock by exercising stock options at a price of $14.50 per share, amounting to a total value of approximately $419,528. Spyre currently trades with a market capitalization of $7.93 billion and exhibits high volatility with a beta of 3.

All transactions were executed under a Rule 10b5-1 trading plan, which was adopted on April 16, 2026. Following these transactions, Ms. King-Jones directly owns 2,845 shares of Spyre Therapeutics common stock. She also holds options to purchase an additional 482,478 shares. These options represent the right to purchase 539,810 shares, adjusted for a 1-for-25 reverse stock split on September 8, 2023, with a vesting schedule that began on September 1, 2024, and continues monthly over three years, contingent on her continued employment.

In other recent news, Spyre Therapeutics announced topline results from its Phase II SKYWAY-RA program, evaluating the SPY072/TL1A treatment for rheumatoid arthritis. The results showed statistically significant improvements over placebo in certain endpoints, although the effect size did not meet the company’s criteria for further monotherapy development. Analysts from Guggenheim reiterated a Buy rating with a $130 price target following these results, highlighting the treatment’s efficacy in both TNF-naive and TNF-experienced patients. Stifel also maintained a Buy rating and set a price target of $123, noting that while some endpoints showed statistical significance, the overall effect size was not competitive enough for monotherapy. Baird reiterated an Outperform rating with a $116 price target, citing positive trial data for Spyre’s SPY003 in ulcerative colitis. Additionally, JPMorgan initiated coverage on Spyre with an Overweight rating and a $110 price target, focusing on the company’s promising pipeline for inflammatory bowel disease. These recent developments reflect continued interest and varying perspectives from analysts on Spyre Therapeutics’ potential in the biotechnology field.