Tyra Biosciences (NASDAQ:TYRA) Releases Earnings Results, Misses Estimates By $0.04 EPS

Tyra Biosciences (NASDAQ:TYRA) released its quarterly earnings data 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 Stock Performance

Tyra Biosciences stock traded down $0.94 during mid-day trading on Friday, hitting $35.58. 206,769 shares of the company traded hands, compared to its average volume of 947,184. Tyra Biosciences has a one year low of $8.75 and a one year high of $40.65. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of -16.32 and a beta of 0.79. The stock has a fifty day moving average price of $36.13 and a 200-day moving average price of $28.93.

Insider Transactions at Tyra Biosciences

In other news, Director Gilla Kaplan sold 14,295 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 28,231 shares in the company, valued at approximately $1,043,700.07. The trade was a 33.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 12.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tyra Biosciences

A number of hedge funds have recently made changes to their positions in the business. Invesco Ltd. lifted its holdings in shares of Tyra Biosciences by 734.5% in the 4th quarter. Invesco Ltd. now owns 129,435 shares of the company’s stock worth $3,403,000 after acquiring an additional 113,925 shares during the last quarter. VARCOV Co. purchased a new position in shares of Tyra Biosciences in the fourth quarter worth $255,000. Virtus Investment Advisers LLC increased its stake in shares of Tyra Biosciences by 6.7% in the fourth quarter. Virtus Investment Advisers LLC now owns 11,756 shares of the company’s stock worth $309,000 after buying an additional 741 shares during the period. Wellington Management Group LLP increased its stake in shares of Tyra Biosciences by 25.9% in the fourth quarter. Wellington Management Group LLP now owns 104,305 shares of the company’s stock worth $2,742,000 after buying an additional 21,434 shares during the period. Finally, Superstring Capital Management LP purchased a new position in shares of Tyra Biosciences in the fourth quarter worth $1,543,000. 84.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TYRA. HC Wainwright restated a “buy” rating and issued a $45.00 price objective on shares of Tyra Biosciences in a research report on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Tyra Biosciences in a research report on Monday, April 20th. Cantor Fitzgerald initiated coverage on shares of Tyra Biosciences in a research report on Tuesday, February 24th. They set an “overweight” rating for the company. Canaccord Genuity Group initiated coverage on shares of Tyra Biosciences in a research report on Monday, April 6th. They set a “buy” rating and a $50.00 target price for the company. Finally, Wedbush lifted their target price on shares of Tyra Biosciences from $37.00 to $53.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $46.50.

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.