Tyra Biosciences (NASDAQ:TYRA) Issues Quarterly Earnings Results

Key Points

• Tyra Biosciences reported quarterly EPS of ($0.64), missing the consensus estimate of ($0.60) by $0.04.
• Management said its lead FGFR3 inhibitor dabogratinib is advancing across multiple late-stage opportunities under the “Dabo 3x3” strategy, with several programs positioned as potentially first-in-class or best-in-class.
• For intermediate-risk NMIBC, the company highlighted the upcoming SURF302 readout as a key phase III decision point and is targeting a 70% or better complete response rate with strong tolerability.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) announced its quarterly earnings results on Wednesday. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.04), FiscalAI reports.

Here are the key takeaways from Tyra Biosciences' conference call:

• Tyra Biosciences said its lead FGFR3 inhibitor dabogratinib is advancing into multiple late-stage opportunities across its “Dabo 3x3” strategy, with the company framing several programs as potentially first-in-class or best-in-class.
• For intermediate-risk NMIBC, management highlighted a large addressable market and said the August readout from SURF302 should provide a go/no-go signal for phase III, with the company targeting a 70% or better complete response rate plus strong tolerability.
• The company emphasized that dabogratinib could offer a major convenience advantage over current bladder-cancer treatments by replacing repeated procedures and intravesical therapies with a simple oral daily pill, which they believe could improve patient and physician adoption.
• Tyra reported it has dosed its first patient in UTUC and views this as a more straightforward path to approval; management suggested that even moderate response rates could drive strong uptake because physicians may prefer an oral option over kidney-removing or invasive local treatments.
• In achondroplasia, the company said it has cleared its fourth dose in the Safety Sentinel cohort and highlighted encouraging preclinical data suggesting FGFR3 selectivity could meaningfully improve growth-related outcomes, with the goal of best-in-class efficacy versus peers.

Tyra Biosciences Price Performance

Shares of TYRA traded up $1.31 during midday trading on Wednesday, reaching $36.18. The stock had a trading volume of 644,214 shares, compared to its average volume of 960,318. Tyra Biosciences has a 1-year low of $8.75 and a 1-year high of $40.65. The company's fifty day simple moving average is $35.99 and its two-hundred day simple moving average is $28.61. The company has a market cap of $2.15 billion, a price-to-earnings ratio of -18.00 and a beta of 0.79.

Insider Buying and Selling at Tyra Biosciences

In other news, Director Gilla Kaplan sold 14,295 shares of the firm's stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $36.97, for a total value of $528,486.15. Following the sale, the director directly owned 28,231 shares in the company, valued at approximately $1,043,700.07. This trade represents a 33.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.50% of the company's stock.

Institutional Investors Weigh In On Tyra Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of TYRA. AQR Capital Management LLC grew its position in Tyra Biosciences by 2.0% during the 4th quarter. AQR Capital Management LLC now owns 28,631 shares of the company's stock worth $753,000 after purchasing an additional 562 shares during the last quarter. MetLife Investment Management LLC grew its position in Tyra Biosciences by 5.0% during the 4th quarter. MetLife Investment Management LLC now owns 15,356 shares of the company's stock worth $404,000 after purchasing an additional 725 shares during the last quarter. Virtus Investment Advisers LLC grew its position in Tyra Biosciences by 6.7% during the 4th quarter. Virtus Investment Advisers LLC now owns 11,756 shares of the company's stock worth $309,000 after purchasing an additional 741 shares during the last quarter. Deutsche Bank AG grew its position in Tyra Biosciences by 5.8% during the 4th quarter. Deutsche Bank AG now owns 16,377 shares of the company's stock worth $431,000 after purchasing an additional 894 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Tyra Biosciences by 12.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,432 shares of the company's stock worth $380,000 after purchasing an additional 1,631 shares during the last quarter. 84.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TYRA. William Blair assumed coverage on shares of Tyra Biosciences in a research note on Tuesday, February 10th. They issued an "outperform" rating for the company. Wall Street Zen cut shares of Tyra Biosciences from a "hold" rating to a "sell" rating in a research report on Saturday, January 24th. Guggenheim initiated coverage on shares of Tyra Biosciences in a research report on Tuesday, April 14th. They set a "buy" rating and a $54.00 price objective for the company. HC Wainwright increased their target price on shares of Tyra Biosciences from $30.00 to $45.00 and gave the stock a "buy" rating in a report on Tuesday, February 17th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Tyra Biosciences in a report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Tyra Biosciences presently has an average rating of "Moderate Buy" and an average price target of $46.50.

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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