Squarepoint Ops LLC Purchases 43,311 Shares of Tyra Biosciences, Inc. $TYRA

Key Points

• Squarepoint Ops LLC increased its Tyra Biosciences stake by 211.3% in the second quarter, adding 43,311 shares to own 63,805 shares worth approximately $2.04 million. Institutional investors collectively held 84.14% of the company.
• Tyra reported a quarterly loss of $0.69 per share, missing analyst expectations of a $0.65 loss. Shares opened at $25.07, below their 50-day and 200-day moving averages, with a market capitalization of about $1.5 billion.
• Analyst sentiment remains broadly positive, with 11 Buy ratings, one Hold, and one Sell; the average price target is $47.88. Tyra is a clinical-stage biotechnology company developing FGFR-focused precision medicines, including its lead candidate TYRA-300.

Squarepoint Ops LLC increased its position in Tyra Biosciences, Inc. (NASDAQ:TYRA - Free Report) by 211.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,805 shares of the company's stock after acquiring an additional 43,311 shares during the quarter. Squarepoint Ops LLC owned about 0.11% of Tyra Biosciences worth $2,038,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Jupiter Topco LLC bought a new stake in Tyra Biosciences in the 2nd quarter valued at $139,161,000. BlackRock Inc. acquired a new stake in Tyra Biosciences in the 2nd quarter worth $96,841,000. 5AM Venture Management LLC bought a new position in shares of Tyra Biosciences during the 2nd quarter worth about $32,875,778. Janus Henderson Group PLC raised its position in shares of Tyra Biosciences by 32.5% during the first 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. Finally, California State Teachers Retirement System raised its position in shares of Tyra Biosciences by 55,815.5% during the second quarter. California State Teachers Retirement System now owns 783,935 shares of the company's stock valued at $24,544,000 after buying an additional 782,533 shares during the last quarter. Institutional investors and hedge funds own 84.14% of the company's stock.

Tyra Biosciences Stock Performance

Shares of Tyra Biosciences stock opened at $25.07 on Tuesday. The firm's 50-day simple moving average is $28.27 and its 200-day simple moving average is $31.77. Tyra Biosciences, Inc. has a twelve month low of $11.82 and a twelve month high of $40.65. The firm has a market cap of $1.50 billion, a P/E ratio of -10.45 and a beta of 0.73.

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 the consensus estimate of ($0.65) by ($0.04). On average, equities analysts forecast that Tyra Biosciences, Inc. will post -2.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TYRA has been the subject of several research reports. JonesTrading assumed coverage on shares of Tyra Biosciences in a research note on Wednesday, June 17th. They issued a "buy" rating and a $56.00 target price for the company. Jefferies Financial Group restated a "buy" rating and set a $42.00 price target on shares of Tyra Biosciences in a research note on Wednesday, August 5th. HC Wainwright cut their price target on Tyra Biosciences from $45.00 to $30.00 and set a "buy" rating for the company in a report on Thursday, September 10th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Tyra Biosciences in a research report on Friday, July 17th. Finally, Wolfe Research initiated coverage on Tyra Biosciences in a report on Tuesday, May 19th. They set a "peer perform" rating on the stock. Eleven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $47.88.

About Tyra Biosciences

Tyra Biosciences, Inc is a clinical-stage biotechnology company focused on developing precision medicines for diseases with limited treatment options. The company uses its proprietary SNÅP platform to design small-molecule therapies intended to selectively target disease-driving genetic alterations while addressing resistance mechanisms that can reduce the effectiveness of existing treatments.

Tyra's lead programs are directed at fibroblast growth factor receptor (FGFR) biology. TYRA-300 is an oral, selective FGFR3 inhibitor being developed for conditions including FGFR3-altered urothelial cancer and achondroplasia, a genetic skeletal disorder.

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