BlackRock Inc. Purchases New Shares in Tyra Biosciences, Inc. $TYRA

Key Points

• BlackRock acquired 3.03 million Tyra Biosciences shares in the second quarter, worth approximately $96.8 million, giving it a 5.08% stake. Institutional investors collectively own 84.14% of the company.
• Tyra reported a quarterly loss of $0.69 per share, missing analyst estimates of $0.65, while analysts expect a full-year loss of $2.74 per share.
• Despite the earnings miss and recent share price decline to $24.94, analysts maintain a consensus “Moderate Buy” rating with an average price target of $46.90.

BlackRock Inc. acquired a new position in shares of Tyra Biosciences, Inc. (NASDAQ:TYRA - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,031,972 shares of the company's stock, valued at approximately $96,841,000. BlackRock Inc. owned 5.08% of Tyra Biosciences as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TYRA. Hilton Head Capital Partners LLC acquired a new stake in shares of Tyra Biosciences in the first quarter valued at about $30,000. Caitong International Asset Management Co. Ltd purchased a new position in Tyra Biosciences in the 4th quarter valued at about $51,000. Chung Wu Investment Group LLC purchased a new position in Tyra Biosciences in the 4th quarter valued at about $53,000. State of Wyoming acquired a new stake in Tyra Biosciences in the 2nd quarter worth about $76,000. Finally, SG Americas Securities LLC acquired a new stake in Tyra Biosciences in the 1st quarter worth about $276,000. 84.14% of the stock is owned by hedge funds and other institutional investors.

Tyra Biosciences Price Performance

TYRA opened at $24.94 on Friday. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of -10.39 and a beta of 0.77. The company's 50 day simple moving average is $29.51 and its two-hundred day simple moving average is $32.17. Tyra Biosciences, Inc. has a 1-year low of $11.70 and a 1-year high of $40.65.

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

Analysts Set New Price Targets

Several research firms have commented on TYRA. Wolfe Research began coverage on Tyra Biosciences in a report on Tuesday, May 19th. They set a "peer perform" rating for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Tyra Biosciences in a research note on Friday, July 17th. Bank of America boosted their price target on Tyra Biosciences from $37.00 to $42.00 and gave the stock a "buy" rating in a research report on Wednesday, June 10th. JonesTrading assumed coverage on Tyra Biosciences in a research note on Wednesday, June 17th. They issued a "buy" rating and a $56.00 price objective for the company. Finally, Jefferies Financial Group restated a "buy" rating and issued a $42.00 price objective on shares of Tyra Biosciences in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Tyra Biosciences currently has a consensus rating of "Moderate Buy" and an average target price of $46.90.

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.

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