Nina S. Kjellson, a director at Tyra Biosciences , Inc. (NASDAQ:TYRA), recently made several transactions involving the sale of common stock in the company. According to a recent SEC filing, Kjellson sold a total of 25,041 shares over several days, amounting to approximately $409,645. The transactions come as the stock shows strong momentum, with a 16.47% gain year-to-date and a 23.31% return over the past year, according to InvestingPro data.
The transactions occurred on January 16, 17, and 21, with the shares sold at prices ranging from $16.287 to $16.4001 per share. These shares were held indirectly through Canaan XI L.P. and 2020+ Co-Investment L.P. - Series 7, entities that Kjellson is associated with.
Following these transactions, Kjellson still holds a significant number of shares in Tyra Biosciences through these entities, with 3,707,420 shares remaining under Canaan XI L.P. and 447,396 shares under the 2020+ Co-Investment L.P. - Series 7.
In other recent news, Tyra Biosciences has received FDA clearance to proceed with a Phase 2 clinical trial for its drug candidate, TYRA-300, targeting low-grade, intermediate risk non-muscle invasive bladder cancer (IR NMIBC) and achondroplasia. The company's financial health remains strong, maintaining a remarkable current ratio of 29.55 and more cash than debt on its balance sheet. UBS and H.C. Wainwright have shown confidence in Tyra Biosciences, with UBS initiating coverage with a Buy rating and H.C. Wainwright adjusting its price target to $30 from $32, maintaining a Buy rating. Piper Sandler also reaffirmed an Overweight rating on Tyra Biosciences shares, indicating continued confidence in the company's prospects. These recent developments highlight the company's progress in its drug development and financial prospects.
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