The recent activity involving Scott L. Burrows, Chief Financial Officer at Spyre Therapeutics, Inc., highlights significant movements in insider holdings amidst a period of notable corporate development for the biotechnology firm. On June 1, 2026, Mr. Burrows sold common stock valued at $532,936. These divestitures were systematically managed through a Rule 10b5-1 trading plan, which was initially adopted by him on November 10, 2025.
The timing of these sales is notable given the current market valuation of Spyre Therapeutics. At the time of the transactions, the stock traded at $73.52, positioning it close to its 52-week peak of $78.80. This pricing reflects a substantial appreciation over the past year, with data indicating an 119% surge within the preceding six months alone.
Details of the Stock Dispositions
Mr. Burrows disposed of a cumulative total of 7,500 shares of Spyre Therapeutics common stock across three distinct sales transactions. The weighted average prices at which these shares were sold ranged between $69.75 and $72.06.
- The first block consisted of 1,801 shares, with a weighted average sale price of $69.75. Individual transaction prices for this group spanned from $69.37 to $70.36.
- A second set comprised 2,599 shares, sold at a weighted average price of $70.77. The individual selling prices in this tranche ranged between $70.38 and $71.34.
- The final portion involved 3,100 shares, which were transacted with a weighted average price of $72.06. The range of prices for these last shares was noted as spanning from $71.54 to $72.14.
In parallel with the selling activity, Mr. Burrows also exercised options on the same day. He acquired 7,500 shares of Spyre Therapeutics common stock by exercising options at an exercise price of $14.50 per share, resulting in a total cost of $108,750.
This option exercise was likewise executed as part of the existing Rule 10b5-1 trading plan. These particular options were derived from a larger grant totaling 404,857 shares. This overall grant figure had been adjusted following the company's 1-for-25 reverse stock split that took place on September 8, 2023. The vesting schedule for these options stipulated that one quarter of the total vested and became exercisable on September 1, 2024. The remaining three quarters were scheduled to vest through monthly installments over the subsequent three years, contingent upon Mr. Burrows maintaining his employment with Spyre Therapeutics.
Current Holdings and Financial Context
Following these transactions, Mr. Burrows' direct holdings of Spyre Therapeutics common stock amount to 97,994 shares. This total ownership includes 67,476 restricted stock units (RSUs). These RSUs represent a contingent right to receive one share of common stock upon vesting and are scheduled to vest in two equal installments on September 1, 2026, and again on September 1, 2027. The vesting of these units is dependent on his continued service with the company.
Despite the strong performance metrics observed for the stock, analysis from InvestingPro indicates that Spyre Therapeutics remains unprofitable. Specifically, the company reported earnings per share (EPS) of -$2.17 over the last twelve months. The platform further provides 11 additional ProTips designed to offer investors deeper insights into the financial health profile of SYRE.
Company Development and Market Activity
Spyre Therapeutics has been active in recent capital formation and clinical development. The company recently completed an underwritten public offering that involved 7,475,000 shares of common stock sold at $62.00 per share, generating approximate gross proceeds of $463.5 million. This transaction included the exercise of the underwriters' option to purchase an additional 975,000 shares. Separately, Spyre announced the pricing for another public stock offering, setting the price at the same rate and anticipating receiving gross proceeds amounting to roughly $403 million.
In terms of clinical progress, the company has also completed enrollment for its SKYWAY basket trial, which is evaluating SPY072 in rheumatic diseases. Topline data from this trial is expected to be available in 2026. Further reinforcing the company's profile, Stifel raised its price target for Spyre Therapeutics shares to $107.00 while maintaining a Buy rating. This positive revision was attributed by the firm primarily to strong proof-of-concept data observed for SPY001 in ulcerative colitis. These favorable developments are set against the backdrop of anticipated data readouts for both SPY002 and SPY003, which are expected between mid-year and the third quarter of 2026.
(Note: The article contains various market metrics, including a closing price of $71.71 (down -2.46% After Hours) and day ranges, indicating significant recent trading volatility.)