Spyre Therapeutics Inc. (NASDAQ:SYRE) shares are up on Monday following the announcement of positive results from the Phase 2 SKYLINE trial for SPY001, which met its primary endpoint with a statistically significant reduction in the Robart’s Histopathology Index score.
• Spyre Therapeutics stock is approaching key resistance levels. Why is SYRE stock breaking out?
The Phase 2 trial is evaluating SPY001, an anti-α4β7, for moderate-to-severely active ulcerative colitis (UC).
Spyre Therapeutics is a clinical-stage biotechnology company focused on long-acting antibodies and antibody combinations for inflammatory bowel disease and rheumatic diseases.
Spyre Therapeutics Drug Shows Promising Efficacy In Ulcerative Colitis
SPY001 demonstrated a 9.2-point reduction in the RHI score at week 12, indicating promising efficacy in treating moderate-to-severe ulcerative colitis.
The RHI score measures disease activity in ulcerative colitis.
The trial’s secondary endpoints also showed meaningful clinical remission and endoscopic improvement, supporting SPY001’s potential as a best-in-class treatment.
Additionally, Spyre announced that recruitment for Part A of SKYLINE is now closed and enrollment is open for Part B, which includes three monotherapy cohorts (SPY001, SPY002, and SPY003) and three combination cohorts (SPY120, SPY130, and SPY230).
Proof-of-concept induction data for the remaining cohorts of Part A are now expected in mid-2026 (SPY002) and the third quarter of 2026 (SPY003).
Part B induction data (all cohorts) remain on track for 2027.
Spyre Therapeutics Technical Analysis
At $67.99, the stock is trading 44.5% above its 20-day simple moving average (SMA) and 84.3% above its 100-day SMA, indicating strong short-term and intermediate-term bullish trends.
The stock’s current price is also 146.8% above its 200-day SMA, reinforcing the overall strength in its price action.
The relative strength index (RSI) is at 65.94, suggesting that the stock is nearing overbought territory, which could indicate a potential pullback if momentum shifts.
- Key Resistance: $70 — A psychological level that may attract profit-taking.
- Key Support: $65 — A level where buying interest could emerge.
Spyre Therapeutics has shown impressive performance over the past 12 months, with a return of 415.51%. This significant gain reflects strong investor interest and confidence in the company’s pipeline and potential market impact.
Analyst Consensus & Recent Actions: The stock carries a Buy Rating with a consensus price target of $58.38. Recent analyst moves include:
- BTIG: Buy (Raises target to $98 on April 13)
- Stifel: Buy (Raises target to $92 on March 18)
Benzinga Edge Rankings
Below is the Benzinga Edge scorecard for Spyre Therapeutics, highlighting its strengths and weaknesses compared to the broader market:
- Momentum: Bullish (Score: 98.65) — Stock is outperforming the broader market.
The Verdict: Spyre Therapeutics’s Benzinga Edge signal reveals a strong momentum-driven story, indicating robust investor interest and potential for continued growth.
Top ETF Exposure
- F/m Emerald Life Sciences Innovation ETF (NASDAQ:LFSC): 4.42% Weight
SYRE Stock Price Activity: Spyre Therapeutics shares were up 29.61% at $66.47 at the time of publication on Monday, according to Benzinga Pro data.
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