Canaan Partners XI LLC Sells 35,267 Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA)

Canaan Partners XI LLC lowered its stake in shares of Tyra Biosciences, Inc. (NASDAQ:TYRA - Free Report) by 0.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,144,590 shares of the company's stock after selling 35,267 shares during the period. Tyra Biosciences accounts for approximately 58.1% of Canaan Partners XI LLC's portfolio, making the stock its biggest holding. Canaan Partners XI LLC owned 7.81% of Tyra Biosciences worth $38,545,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Rhumbline Advisers grew its stake in Tyra Biosciences by 4.1% during the 4th quarter. Rhumbline Advisers now owns 26,202 shares of the company's stock valued at $364,000 after purchasing an additional 1,027 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Tyra Biosciences in the 4th quarter worth $31,000. Bank of New York Mellon Corp grew its holdings in shares of Tyra Biosciences by 5.2% in the 4th quarter. Bank of New York Mellon Corp now owns 45,007 shares of the company's stock worth $626,000 after acquiring an additional 2,221 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Tyra Biosciences by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 9,493 shares of the company's stock worth $132,000 after acquiring an additional 3,236 shares during the last quarter. Finally, US Bancorp DE purchased a new stake in Tyra Biosciences in the 4th quarter worth about $50,000. Institutional investors and hedge funds own 84.14% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. HC Wainwright restated a "buy" rating and issued a $30.00 target price on shares of Tyra Biosciences in a research note on Monday, March 31st. Piper Sandler started coverage on Tyra Biosciences in a research report on Wednesday, May 21st. They set an "overweight" rating and a $33.00 price objective for the company. Finally, Wedbush reaffirmed an "outperform" rating and issued a $30.00 price target on shares of Tyra Biosciences in a report on Friday, March 28th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Tyra Biosciences currently has an average rating of "Buy" and an average price target of $30.83.

Tyra Biosciences Price Performance

TYRA stock traded up $0.38 during trading hours on Friday, reaching $10.55. 194,217 shares of the stock were exchanged, compared to its average volume of 271,731. The company has a market cap of $560.10 million, a price-to-earnings ratio of -6.55 and a beta of 1.07. The firm's 50-day moving average is $9.31 and its 200-day moving average is $12.17. Tyra Biosciences, Inc. has a 12 month low of $6.42 and a 12 month high of $29.60.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.02. As a group, equities research analysts forecast that Tyra Biosciences, Inc. will post -1.57 earnings per share for the current year.

Tyra Biosciences Company Profile

Tyra Biosciences, Inc, a clinical-stage biotechnology company, develops precision medicines for fibroblast growth factor receptor (FGFR) biology in the United States. The company offers SNÅP, a precision medicine platform that enables drug design through iterative molecular snapshots to predict genetic alterations for developing therapies targeting oncology and genetically defined conditions.