5AM Venture Management LLC Acquires Shares of 1,029,298 Tyra Biosciences, Inc. $TYRA

Key Points

• 5AM Venture Management acquired 1,029,298 Tyra Biosciences shares, giving it a 1.72% stake and making TYRA its second-largest portfolio holding at approximately 11.4%.
• Institutional ownership remains high at 84.14%, with firms including BlackRock, Commodore Capital, Janus Henderson and Farallon Capital recently increasing or initiating positions.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and a $46.90 price target, although Tyra recently reported a quarterly loss of $0.69 per share, missing estimates by $0.04.

5AM Venture Management LLC bought a new position in Tyra Biosciences, Inc. (NASDAQ:TYRA - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,029,298 shares of the company's stock, valued at approximately $32,875,778,000. Tyra Biosciences makes up approximately 11.4% of 5AM Venture Management LLC's investment portfolio, making the stock its 2nd largest position. 5AM Venture Management LLC owned 1.72% of Tyra Biosciences at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of Tyra Biosciences in the 2nd quarter valued at about $96,841,000. Commodore Capital LP raised its stake in Tyra Biosciences by 226.3% in the second quarter. Commodore Capital LP now owns 3,100,000 shares of the company's stock valued at $29,667,000 after purchasing an additional 2,150,000 shares in the last quarter. Janus Henderson Group PLC raised its stake in Tyra Biosciences by 32.5% in the first quarter. Janus Henderson Group PLC now owns 3,890,589 shares of the company's stock valued at $148,867,000 after purchasing an additional 955,147 shares in the last quarter. Farallon Capital Management LLC lifted its position in Tyra Biosciences by 80.7% during the fourth quarter. Farallon Capital Management LLC now owns 2,066,818 shares of the company's stock valued at $54,337,000 after purchasing an additional 923,000 shares during the last quarter. Finally, Jennison Associates LLC bought a new stake in Tyra Biosciences during the first quarter valued at approximately $24,222,000. Institutional investors own 84.14% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on TYRA. JonesTrading assumed coverage on Tyra Biosciences in a research note on Wednesday, June 17th. They set a "buy" rating and a $56.00 price target for the company. HC Wainwright reiterated a "buy" rating and set a $45.00 price objective on shares of Tyra Biosciences in a research report on Thursday, May 14th. Weiss Ratings reissued a "sell (d-)" rating on shares of Tyra Biosciences in a report on Friday, July 17th. Wolfe Research began coverage on Tyra Biosciences in a research report on Tuesday, May 19th. They issued a "peer perform" rating for the company. Finally, Bank of America upped their target price on Tyra Biosciences from $37.00 to $42.00 and gave the stock a "buy" rating in a research note on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.90.

Tyra Biosciences Trading Up 2.3%

Tyra Biosciences stock opened at $26.69 on Wednesday. The firm has a market cap of $1.59 billion, a P/E ratio of -11.12 and a beta of 0.77. Tyra Biosciences, Inc. has a 1-year low of $11.70 and a 1-year high of $40.65. The firm has a 50-day moving average of $29.68 and a 200-day moving average of $32.27.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by ($0.04). Research analysts forecast that Tyra Biosciences, Inc. will post -2.74 earnings per share for the current fiscal year.

Tyra Biosciences 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.

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