Tyra Biosciences (NASDAQ:TYRA) Shares Gap Down Following Weak Earnings

Tyra Biosciences, Inc. (NASDAQ:TYRA)’s stock price gapped down prior to trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $32.53, but opened at $29.00. Tyra Biosciences shares last traded at $29.73, with a volume of 267,121 shares.

The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by ($0.04).

Wall Street Analyst Weigh In

Several brokerages have commented on TYRA. HC Wainwright restated a “buy” rating and set a $45.00 target price on shares of Tyra Biosciences in a report on Thursday, May 14th. Bank of America increased their price objective on shares of Tyra Biosciences from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tyra Biosciences in a research report on Friday, July 17th. JonesTrading assumed coverage on Tyra Biosciences in a report on Wednesday, June 17th. They set a “buy” rating and a $56.00 target price for the company. Finally, Guggenheim assumed coverage on Tyra Biosciences in a research note on Tuesday, April 14th. They issued a “buy” rating and a $54.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.00.

Institutional Investors Weigh In On Tyra Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TYRA. Janus Henderson Group PLC increased its stake in Tyra Biosciences by 32.5% in the 1st quarter. Janus Henderson Group PLC now owns 3,890,589 shares of the company’s stock valued at $148,867,000 after buying an additional 955,147 shares during the last quarter. Commodore Capital LP boosted its stake in shares of Tyra Biosciences by 226.3% during the 2nd quarter. Commodore Capital LP now owns 3,100,000 shares of the company’s stock worth $29,667,000 after buying an additional 2,150,000 shares during the last quarter. Farallon Capital Management LLC grew its holdings in shares of Tyra Biosciences by 80.7% in the 4th quarter. Farallon Capital Management LLC now owns 2,066,818 shares of the company’s stock valued at $54,337,000 after acquiring an additional 923,000 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Tyra Biosciences by 8.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,520,185 shares of the company’s stock valued at $21,267,000 after acquiring an additional 118,492 shares in the last quarter. Finally, 5AM Venture Management LLC increased its position in shares of Tyra Biosciences by 9.6% in the fourth quarter. 5AM Venture Management LLC now owns 1,029,298 shares of the company’s stock valued at $27,060,000 after acquiring an additional 90,000 shares during the last quarter. 84.14% of the stock is currently owned by institutional investors and hedge funds.

Tyra Biosciences Price Performance

The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -13.74 and a beta of 0.77. The business has a 50-day moving average of $30.45 and a 200-day moving average of $32.74.

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.