CARLSBAD, Calif. — Nina Kjellson, a director at Tyra Biosciences, Inc. (NASDAQ:TYRA), recently sold shares in the company amounting to over $1.28 million, according to a regulatory filing. The transactions took place over two days, November 6 and 7, 2024, involving the sale of a total of 74,582 shares.
The sales were executed at prices ranging from $17.1755 to $17.3181 per share. Following these transactions, Kjellson retains ownership of 3,735,871 shares indirectly through Canaan XI L.P. and 449,258 shares through the 2020+ Co-Investment L.P. - Series 7.
These transactions were part of a routine trading activity as indicated in the Form 4 filing with the Securities and Exchange Commission. Tyra Biosciences, headquartered in Carlsbad, California, is known for its work in pharmaceutical preparations.
In other recent news, Tyra Biosciences has received FDA clearance to proceed with the BEACH301 study, a Phase 2 clinical trial of its drug candidate TYRA-300 for children diagnosed with achondroplasia. Piper Sandler has maintained its Overweight rating on the company's stock, following this development and the firm's plans to submit an Investigational New Drug application for TYRA-300 in non-muscle invasive bladder cancer by the end of the year. Analysts from TD Cowen and H.C. Wainwright have also reaffirmed their positive ratings on Tyra Biosciences, following promising preliminary results from the SURF-301 Phase 1/2 trial of TYRA-300 in metastatic urothelial carcinoma. The company's revenue is projected to reach approximately $2.5 billion by 2035, according to Piper Sandler's estimates. Additional recent developments include the appointment of Doug Warner as Chief Medical (TASE:PMCN) Officer and the addition of Susan Moran, M.D., M.S.C.E., and S. Michael Rothenberg, M.D., Ph.D., to its board as independent directors.
InvestingPro Insights
In light of Nina Kjellson's recent share sale at Tyra Biosciences, Inc. (NASDAQ:TYRA), it's worth examining some key financial metrics and insights provided by InvestingPro.
As of the latest data, Tyra Biosciences has a market capitalization of $905.63 million. The company's stock has shown mixed performance, with a strong 42.92% return over the past year, but a 20.75% decline in the last month. This recent dip might contextualize the timing of Kjellson's sale.
InvestingPro Tips reveal that Tyra Biosciences holds more cash than debt on its balance sheet, which is a positive sign for the company's financial health. This strong liquidity position is further supported by the fact that its liquid assets exceed short-term obligations. These factors could provide some reassurance to investors in light of the insider sale.
However, it's important to note that Tyra Biosciences is not currently profitable, with a negative operating income of $100.07 million over the last twelve months. An InvestingPro Tip also indicates that analysts do not anticipate the company to be profitable this year. This aligns with the nature of many biopharmaceutical companies that are still in the development stage of their products.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights. In fact, there are 5 more InvestingPro Tips available for Tyra Biosciences, which could provide valuable context for understanding the company's financial position and future prospects.
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