Tyra Biosciences (NASDAQ:TYRA) Shares Gap Down Following Weak Earnings

Key Points

• Tyra Biosciences shares fell sharply after opening at $29.00 versus the prior close of $32.53, following quarterly EPS of ($0.69), which missed the $0.65 consensus estimate.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus rating and an average price target of $47.00, despite ratings ranging from Sell to Strong Buy.
• Institutional ownership stands at 84.14%, with several major investors increasing their positions, including Commodore Capital, Janus Henderson and Farallon Capital Management.

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report) shares gapped down before the market opened on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $32.53, but opened at $29.00. Tyra Biosciences shares last traded at $29.73, with a volume of 267,121 shares traded.

The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by ($0.04).

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TYRA. Wolfe Research began coverage on Tyra Biosciences in a report on Tuesday, May 19th. They issued a "peer perform" rating on the stock. Guggenheim initiated coverage on Tyra Biosciences in a report on Tuesday, April 14th. They set a "buy" rating and a $54.00 price objective for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Tyra Biosciences in a research report on Friday, July 17th. JonesTrading initiated 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 on the stock. Finally, Bank of America lifted their price target on shares of Tyra Biosciences from $37.00 to $42.00 and gave the stock a "buy" rating in a research report on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Commodore Capital LP increased its stake in Tyra Biosciences by 226.3% in the second quarter. Commodore Capital LP now owns 3,100,000 shares of the company's stock valued at $29,667,000 after purchasing an additional 2,150,000 shares in the last quarter. Janus Henderson Group PLC boosted 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 worth $148,867,000 after purchasing an additional 955,147 shares in the last quarter. Farallon Capital Management LLC boosted its position in shares of Tyra Biosciences by 80.7% during the fourth quarter. Farallon Capital Management LLC now owns 2,066,818 shares of the company's stock worth $54,337,000 after purchasing an additional 923,000 shares in the last quarter. Jennison Associates LLC acquired a new position in shares of Tyra Biosciences in the 1st quarter valued at $24,222,000. Finally, Caligan Partners LP grew its holdings in shares of Tyra Biosciences by 266.8% in the 3rd quarter. Caligan Partners LP now owns 696,825 shares of the company's stock valued at $9,749,000 after buying an additional 506,875 shares during the period. Institutional investors own 84.14% of the company's stock.

Tyra Biosciences Stock Performance

The firm has a market cap of $1.78 billion, a P/E ratio of -13.74 and a beta of 0.77. The stock's 50-day moving average is $30.45 and its 200 day moving average is $32.74.

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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