Tyra Biosciences (NASDAQ:TYRA) Issues Earnings Results

Tyra Biosciences (NASDAQ:TYRA) released its quarterly earnings results on Wednesday. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.04), FiscalAI reports.

Here are the key takeaways from Tyra Biosciences’ conference call:

• Tyra Biosciences said its lead FGFR3 inhibitor dabogratinib is advancing into multiple late-stage opportunities across its “Dabo 3×3” strategy, with the company framing several programs as potentially first-in-class or best-in-class.
• For intermediate-risk NMIBC, management highlighted a large addressable market and said the August readout from SURF302 should provide a go/no-go signal for phase III, with the company targeting a 70% or better complete response rate plus strong tolerability.
• The company emphasized that dabogratinib could offer a major convenience advantage over current bladder-cancer treatments by replacing repeated procedures and intravesical therapies with a simple oral daily pill, which they believe could improve patient and physician adoption.
• Tyra reported it has dosed its first patient in UTUC and views this as a more straightforward path to approval; management suggested that even moderate response rates could drive strong uptake because physicians may prefer an oral option over kidney-removing or invasive local treatments.
• In achondroplasia, the company said it has cleared its fourth dose in the Safety Sentinel cohort and highlighted encouraging preclinical data suggesting FGFR3 selectivity could meaningfully improve growth-related outcomes, with the goal of best-in-class efficacy versus peers.

Tyra Biosciences Trading Down 0.0%

Shares of TYRA stock traded down $0.01 during trading hours on Thursday, hitting $36.19. The company’s stock had a trading volume of 139,225 shares, compared to its average volume of 951,205. The stock has a market cap of $2.15 billion, a PE ratio of -17.99 and a beta of 0.79. Tyra Biosciences has a 12-month low of $8.75 and a 12-month high of $40.65. The company has a 50 day moving average of $36.06 and a 200 day moving average of $28.77.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TYRA shares. Canaccord Genuity Group started coverage on shares of Tyra Biosciences in a research report on Monday, April 6th. They issued a “buy” rating and a $50.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $45.00 target price on shares of Tyra Biosciences in a research report on Thursday. Wedbush upped their price target on shares of Tyra Biosciences from $37.00 to $53.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Jefferies Financial Group raised their price target on shares of Tyra Biosciences from $32.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, February 3rd. Finally, William Blair initiated coverage on shares of Tyra Biosciences in a report on Tuesday, February 10th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.50.

Insider Activity

In other Tyra Biosciences news, Director Gilla Kaplan sold 14,295 shares of the company’s stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $36.97, for a total value of $528,486.15. Following the sale, the director directly owned 28,231 shares of the company’s stock, valued at approximately $1,043,700.07. This represents a 33.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.50% of the stock is currently owned by company insiders.

Institutional Trading of Tyra Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of TYRA. AQR Capital Management LLC lifted its holdings in Tyra Biosciences by 2.0% in the fourth quarter. AQR Capital Management LLC now owns 28,631 shares of the company’s stock valued at $753,000 after acquiring an additional 562 shares during the period. MetLife Investment Management LLC grew its stake in shares of Tyra Biosciences by 5.0% during the 4th quarter. MetLife Investment Management LLC now owns 15,356 shares of the company’s stock worth $404,000 after purchasing an additional 725 shares during the period. Virtus Investment Advisers LLC increased its holdings in shares of Tyra Biosciences by 6.7% during the 4th quarter. Virtus Investment Advisers LLC now owns 11,756 shares of the company’s stock valued at $309,000 after purchasing an additional 741 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Tyra Biosciences by 5.8% during the 4th quarter. Deutsche Bank AG now owns 16,377 shares of the company’s stock valued at $431,000 after purchasing an additional 894 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Tyra Biosciences by 12.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,432 shares of the company’s stock valued at $380,000 after purchasing an additional 1,631 shares during the period. 84.14% of the stock is owned by institutional investors and hedge funds.

Tyra Biosciences Company Profile

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.