# Tyra Biosciences, Inc. (TYRA)

> Source: Nexqual · https://nexqual.com/TYRA · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Tyra Biosciences, Inc. (TYRA), nexqual.com/TYRA" · informational, not investment advice.

**Price:** USD 20.87 (+1.31% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 20.6 · day 20.22–21.28 · 52w 13.35–40.65 · market cap $1.43B · NMS

## Key facts
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $20K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 1.93 on a 1–5 scale) (15 analysts), mean target USD 47.45 (range 29–59).
- Total return with dividends: 1Y +47.8% vs S&P 500 +14.9%; 5Y -9.2% vs S&P 500 +80.3%.
- Next earnings: 2026-11-04, EPS estimate USD -0.67, revenue estimate $0K.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Operating income | -$26.3M | -$58.9M | -$79.9M | -$104M | -$133M | -$160M |
| Net income | -$26.3M | -$55.3M | -$69.1M | -$86.5M | -$120M | -$149M |
| EPS (diluted) | -$1.91 | -$1.32 | -$1.62 | -$1.51 | -$2.01 | — |
| Free cash flow | -$24.4M | -$50.8M | -$50.9M | -$70.4M | -$95.3M | -$110M |
| Cash + short-term investments | $302M | $251M | $58.0M | $92.0M | $77.4M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/B 4.1x · FCF yield -7.66% · Earnings yield -10.35%

## Insider purchases (SEC Form 4, open-market, last ~7 months)
1 purchase, $20K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-09-09 | Verjee Rehan | Director | 972 | $20K | 20.58 | Too little history (no open-market trades in 2023–2025) |
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 1.93 on a 1–5 scale), 15 analysts; mean target USD 47.45 (low 29, high 59).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-22 | Oppenheimer | Target lowered | Outperform | $50 → $40 |
| 2026-09-22 | HC Wainwright & Co. | Target lowered | Buy | $30 → $29 |
| 2026-09-10 | Wedbush | Reiterated | Outperform | $53 |
| 2026-09-10 | HC Wainwright & Co. | Target lowered | Buy | $45 → $30 |
| 2026-09-04 | HC Wainwright & Co. | Reiterated | Buy | $45 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +47.8% | -9.2% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +48.0% | -1.9% |
| Volatility (annualized) | 67.3% | 81.8% |
| Max drawdown | -53.2% (Apr 2026→Oct 2026) | -81.5% (Nov 2021→Jun 2022) |

## Peers (Biotechnology)
LGND (Ligand Pharmaceuticals Incorpor) USD 307.82 -2.21% · RYTM (Rhythm Pharmaceuticals, Inc.) USD 90.9 +2.57% · IOVA (Iovance Biotherapeutics, Inc.) USD 14.14 -3.28% · PRAX (Praxis Precision Medicines, Inc) USD 258.92 +0.96% · IONS (Ionis Pharmaceuticals, Inc.) USD 43.91 -0.81% · ABVX (Abivax SA) USD 90.23 -3.49%

## More
Full page: https://nexqual.com/TYRA · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Company outlook (8-K filed 2026-08-04)

- "Initial results from this study are expected in 2027. • Phase 2 IR NMIBC Study – SURF302."
- "Initial results from the safety sentinel cohort, including 6-month annualized height velocity and safety data for dose levels 1-5, which will include an aggregate of approximately 25 children, are expected to be reported at the end of Q1 2027."
- "The Company's current cash, cash equivalents and marketable securities are expected to allow TYRA to execute on its plans into the second half of 2028. • Research and Development (R&D) Expenses."
- "Upcoming Anticipated Clinical Milestones: • SURF303: initial results – 2027 • SURF302: initial results from both dose cohorts – September 2026 • BEACH301: initial results from dose levels 1-5 of safety sentinel cohort – end of Q1 2027 About Dabogratinib (formerly TYRA-300) Dabogratinib is TYRA's lead precision medicine candidate stemming from its in-house SNÅP platform."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.67 | $-0.65 | +2.7% | $0 | 14 |
| Next quarter (ends 2026-12-31) | $-0.67 | $-0.67 | -0.4% | $0 | 14 |
| Current fiscal year (ends 2026-12-31) | $-2.64 | $-2.58 | +2.2% | $0 | 14 |
| Next fiscal year (ends 2027-12-31) | $-2.77 | $-2.82 | -1.7% | $0 | 14 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-04): ±24.9%; last 8 reports averaged ±6.4%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 112.5% | ±24.9% |
| 2027-02-19 | 119 | 65.6% | ±29.2% |
| 2027-05-21 | 210 | 77.4% | ±45.3% |