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Nina S. Kjellson, a director at Tyra Biosciences , Inc. (NASDAQ:TYRA), recently sold shares of the company’s common stock totaling $74,323. The timing of this insider sale comes as the stock trades near its 52-week low of $13.11, with shares down nearly 9% in the past week. InvestingPro subscribers can access comprehensive insider trading patterns and 10 additional real-time investment insights for TYRA. The transactions occurred on February 5, 2025, with shares sold at a weighted average price of $13.7611. According to the filing, Kjellson sold 1,890 shares through Canaan XI L.P. and an additional 3,511 shares via 2020+ Co-Investment L.P. - Series 7. Following these transactions, Kjellson holds 3,700,705 shares indirectly through Canaan XI L.P. and 443,885 shares through 2020+ Co-Investment L.P. - Series 7. Despite recent price weakness, analysts maintain a bullish outlook with price targets ranging from $28 to $33 for this $693 million market cap company.
In other recent news, Tyra Biosciences has witnessed significant developments in its board and drug pipeline. The biotech firm recently welcomed Adele Gulfo, a seasoned pharmaceutical industry leader, to its Board of Directors. This appointment followed the resignation of Nina Kjellson, with Gulfo filling the Class I vacancy. Gulfo’s experience spans multiple pharmaceutical companies, including Sumitomo Pharma America and Pfizer (NYSE:PFE), and she is expected to provide valuable guidance in the development of Tyra’s lead drug, TYRA-300.
TYRA-300, aimed at treating non-muscle invasive bladder cancer, has recently received FDA clearance to proceed with Phase 2 clinical trials. This investigational drug is a selective inhibitor designed to target FGFR3 mutations, commonly found in this type of bladder cancer. The trial, named SURF302, will involve up to 90 participants across various U.S. sites and is expected to commence patient dosing in the second quarter of 2025.
In addition to these developments, Tyra Biosciences has also received varied feedback from analysts. UBS analyst Eliana Merle assigned a Buy rating to Tyra Biosciences, recognizing the potential of TYRA-300 to lead the market with its oral treatment options. Meanwhile, H.C. Wainwright maintained a Buy rating but reduced the price target for Tyra Biosciences from $32 to $30, following a review of recent clinical data and potential of TYRA-300. These recent developments reflect Tyra Biosciences’ commitment to strong leadership and innovative drug development.
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