BTIG reiterates Buy rating on Spyre Therapeutics, $121 price target

Spyre Therapeutics (SYRE) completed a $350M equity offering at $85 per share, adding 4.1M shares. The stock has declined 9.2% in 7 days, 9.1% in 30 days, and 18.1% in 90 days, despite a 164.4% YTD return. Analysts see a fair value of $120.08, citing its antibody pipeline and long cash runway. The company's future depends on clinical trial results and market sentiment.

Spyre Therapeutics announced a $350 million stock offering of 4.1 million shares at $85 each, with underwriters having a 30-day option for additional shares. Proceeds will fund gastroenterology, rheumatology, and dermatology programs, and advance SPY072 for hidradenitis suppurativa. Closing is expected October 7, 2026, according to the company.

Spyre Therapeutics (SYRE) shares fell 14% after issuing $350M in new stock at $85/share, 8% below Monday's close. The offering was upsized from $250M and adds 5% more shares. Proceeds will fund Phase 3 trials, including SPY072 for hidradenitis suppurativa. The company has no product revenue.

Spyre Therapeutics shares dropped 13% to $81.11 after pricing a $350M stock offering at $85/share, an 8.3% discount. Proceeds will fund programs in gastroenterology, rheumatology, and dermatology. The company plans to advance SPY072 for hidradenitis suppurativa and other autoimmune conditions.

Spyre Therapeutics priced a public offering of 4.12M shares at $85 each, raising $350M. The company granted underwriters a 30-day option to buy 618K additional shares.

Spyre Therapeutics (SYRE) increased its equity offering from $250M to $350M, priced below its last close of $92.72. The biotech firm, with no revenue and a $8.18B market cap, aims to fund clinical development. Insiders sold $442.5M in shares over 12 months, while gurus show mixed interest. SYRE's GF Score is 28/100, reflecting weak profitability and growth.