Tyra Biosciences (NASDAQ:TYRA) Posts Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Tyra Biosciences (NASDAQ:TYRA) issued its earnings results on Wednesday. The company reported ($0.64) earnings per share 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 3×3” 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 Stock Up 3.8%

Shares of NASDAQ:TYRA traded up $1.31 during trading on Wednesday, reaching $36.18. The stock had a trading volume of 644,214 shares, compared to its average volume of 960,318. The business has a fifty day moving average price of $35.99 and a 200-day moving average price of $28.61. The stock has a market cap of $2.15 billion, a P/E ratio of -18.00 and a beta of 0.79. Tyra Biosciences has a fifty-two week low of $8.75 and a fifty-two week high of $40.65.

Insider Buying and Selling at Tyra Biosciences

In other news, Director Gilla Kaplan sold 14,295 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director owned 28,231 shares of the company’s stock, valued at $1,043,700.07. The trade was a 33.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 12.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tyra Biosciences

Institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd purchased a new stake in Tyra Biosciences in the fourth quarter valued at approximately $51,000. The Manufacturers Life Insurance Company purchased a new stake in Tyra Biosciences during the fourth quarter worth approximately $220,000. VARCOV Co. purchased a new stake in Tyra Biosciences during the fourth quarter worth approximately $255,000. Bank of Nova Scotia purchased a new stake in Tyra Biosciences during the fourth quarter worth approximately $292,000. Finally, Virtus Investment Advisers LLC grew its stake in Tyra Biosciences by 6.7% during the fourth quarter. Virtus Investment Advisers LLC now owns 11,756 shares of the company’s stock worth $309,000 after buying an additional 741 shares during the period. 84.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on TYRA. Barclays started coverage on shares of Tyra Biosciences in a report on Tuesday, January 27th. They set an “overweight” rating on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Tyra Biosciences in a report on Monday, April 20th. Piper Sandler boosted their price objective on shares of Tyra Biosciences from $42.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, March 20th. Canaccord Genuity Group initiated coverage on shares of Tyra Biosciences in a report on Monday, April 6th. They set a “buy” rating and a $50.00 target price for the company. Finally, Cantor Fitzgerald initiated coverage on shares of Tyra Biosciences in a research report on Tuesday, February 24th. They set an “overweight” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $46.50.

Tyra Biosciences Company Profile

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.