Tyra Biosciences (NASDAQ:TYRA) Shares Gap Down – Here’s Why

Tyra Biosciences, Inc. (NASDAQ:TYRA) gapped down before the market opened on Wednesday . The stock had previously closed at $26.73, but opened at $18.94. Tyra Biosciences shares last traded at $20.4710, with a volume of 1,883,881 shares trading hands.

Tyra Biosciences News Roundup

Here are the key news stories impacting Tyra Biosciences this week:

• Positive Sentiment: Tyra reported initial Phase 2 SURF302 results that it said demonstrated clinical proof of concept in low-grade intermediate-risk non-muscle-invasive bladder cancer and identified a 60 mg once-daily dose for planned registrational studies. Tyra Biosciences Phase 2 SURF302 results
• Positive Sentiment: Wedbush reaffirmed its “outperform” rating and maintained a $53 price target, suggesting substantial potential upside if dabogratinib’s development progresses successfully.
• Neutral Sentiment: HC Wainwright retained a “buy” rating but reduced its price target from $45 to $30, reflecting more cautious expectations while still seeing upside for TYRA.
• Neutral Sentiment: Reported short interest was zero shares, leaving no meaningful short-selling signal for the stock.
• Negative Sentiment: Investors reacted negatively because the bladder-cancer response data reportedly fell short of expectations, despite management’s characterization of the results as supportive. The stock suffered a substantial prior-session decline as the market reassessed dabogratinib’s commercial and regulatory potential. Tyra shares slip as responses fall short
• Negative Sentiment: Reports also highlighted adverse events among some trial participants, adding to concerns about dabogratinib’s risk-benefit profile and the design of future pivotal studies. Tyra trial adverse events
• Negative Sentiment: Pomerantz LLP announced an investigation into potential claims on behalf of Tyra investors. The announcement does not establish wrongdoing, but it may add headline and litigation risk following the data-driven selloff. Pomerantz investor investigation

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on TYRA shares. Wolfe Research began coverage on Tyra Biosciences in a research report on Tuesday, May 19th. They set a “peer perform” rating on the stock. Wedbush reissued an “outperform” rating and set a $53.00 price objective on shares of Tyra Biosciences in a report on Thursday. Cantor Fitzgerald reissued an “overweight” rating on shares of Tyra Biosciences in a report on Thursday. Jefferies Financial Group restated a “buy” rating and set a $42.00 target price on shares of Tyra Biosciences in a research report on Wednesday, August 5th. Finally, JonesTrading started coverage on shares of Tyra Biosciences in a report on Wednesday, June 17th. They issued a “buy” rating and a $56.00 price target for the company. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.88.

Tyra Biosciences Stock Up 7.0%

The company has a market cap of $1.40 billion, a P/E ratio of -9.81 and a beta of 0.73. The business’s 50 day moving average is $28.56 and its 200 day moving average is $31.91.

Tyra Biosciences (NASDAQ:TYRA) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.04). As a group, equities research analysts forecast that Tyra Biosciences, Inc. will post -2.74 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TYRA. Millennium Management LLC lifted its position in Tyra Biosciences by 28.2% during the first quarter. Millennium Management LLC now owns 404,165 shares of the company’s stock valued at $3,759,000 after acquiring an additional 89,024 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Tyra Biosciences by 21.7% in the first quarter. Goldman Sachs Group Inc. now owns 78,006 shares of the company’s stock worth $725,000 after purchasing an additional 13,896 shares during the last quarter. Woodline Partners LP purchased a new position in Tyra Biosciences in the first quarter worth $931,000. Jane Street Group LLC acquired a new position in shares of Tyra Biosciences during the first quarter worth $324,000. Finally, Geode Capital Management LLC increased its position in shares of Tyra Biosciences by 9.8% during the second quarter. Geode Capital Management LLC now owns 567,126 shares of the company’s stock worth $5,428,000 after purchasing an additional 50,836 shares in the last quarter. Hedge funds and other institutional investors own 84.14% of the company’s stock.

About Tyra Biosciences

Tyra Biosciences (NASDAQ: TYRA) is a clinical-stage precision oncology company focused on the discovery and development of small-molecule therapies for genetically defined cancers. The company integrates bioinformatics, molecular biology and medicinal chemistry to identify oncogenic drivers and design targeted inhibitors. By leveraging large-scale genomic datasets and functional screening, Tyra Biosciences aims to advance therapies that address patient populations with high unmet medical need.

The company’s pipeline includes multiple programs at various stages of development, each directed against distinct molecular vulnerabilities in cancer cells.