Tyra Biosciences, Inc. $TYRA Shares Sold by Canaan Partners XI LLC

Key Points

• Canaan Partners XI LLC has reduced its stake in Tyra Biosciences by 12.9%, now holding 3.6 million shares, which accounts for approximately 20.1% of its investment portfolio.
• Shares of Tyra Biosciences opened at $13.30, with a one-year high of $29.60 and low of $6.42, showing significant volatility.
• Analysts maintain a consensus rating of "Buy", with several price targets for the stock ranging up to $36.00, indicating positive sentiment in the market.

Canaan Partners XI LLC decreased its position in shares of Tyra Biosciences, Inc. (NASDAQ:TYRA - Free Report) by 12.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,608,109 shares of the company's stock after selling 536,481 shares during the quarter. Tyra Biosciences accounts for approximately 20.1% of Canaan Partners XI LLC's investment portfolio, making the stock its 2nd largest holding. Canaan Partners XI LLC owned 6.80% of Tyra Biosciences worth $34,530,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets purchased a new position in Tyra Biosciences during the fourth quarter valued at approximately $60,000. Bank of America Corp DE raised its position in Tyra Biosciences by 21.7% during the fourth quarter. Bank of America Corp DE now owns 66,157 shares of the company's stock valued at $920,000 after acquiring an additional 11,804 shares in the last quarter. Deutsche Bank AG raised its position in Tyra Biosciences by 52.0% during the fourth quarter. Deutsche Bank AG now owns 18,909 shares of the company's stock valued at $263,000 after acquiring an additional 6,466 shares in the last quarter. Two Sigma Investments LP raised its position in Tyra Biosciences by 18.1% during the fourth quarter. Two Sigma Investments LP now owns 46,269 shares of the company's stock valued at $643,000 after acquiring an additional 7,093 shares in the last quarter. Finally, Two Sigma Advisers LP purchased a new position in Tyra Biosciences during the fourth quarter valued at approximately $171,000. Institutional investors and hedge funds own 84.14% of the company's stock.

Tyra Biosciences Stock Performance

Shares of TYRA opened at $13.30 on Tuesday. Tyra Biosciences, Inc. has a one year low of $6.42 and a one year high of $29.60. The stock has a market capitalization of $708.85 million, a price-to-earnings ratio of -7.47 and a beta of 1.10. The stock has a 50 day moving average price of $11.69 and a 200 day moving average price of $10.38.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.06. On average, analysts predict that Tyra Biosciences, Inc. will post -1.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TYRA. HC Wainwright reiterated a "buy" rating and set a $30.00 price target on shares of Tyra Biosciences in a research report on Friday, August 22nd. Oppenheimer reiterated an "outperform" rating and set a $36.00 price target on shares of Tyra Biosciences in a research report on Wednesday, September 10th. Raymond James Financial began coverage on Tyra Biosciences in a research report on Tuesday, September 2nd. They set a "strong-buy" rating and a $35.00 price target for the company. Finally, Wall Street Zen cut Tyra Biosciences from a "hold" rating to a "sell" rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $31.86.

About Tyra Biosciences

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.

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