Form 4: RA Capital Management Boosts Stake in Tyra Biosciences Through Recent Stock Purchases

RA Capital Management, a significant institutional investor and director group, has increased its beneficial ownership in Tyra Biosciences, Inc. through recent open market purchases of common stock.

Summary

• RA Capital Management, L.P., along with its affiliated funds RA Capital Healthcare Fund, L.P., RA Capital Nexus Fund, L.P., and a separately managed account, collectively increased their beneficial ownership in Tyra Biosciences, Inc. (TYRA).
• On June 12, 2025, 31,307 shares of Common Stock were purchased at a weighted average price of $10.2 per share, bringing the total beneficial ownership to 10,127,311 shares.
• On June 13, 2025, an additional 120,167 shares of Common Stock were acquired at a weighted average price of $10.2 per share, increasing the total beneficial ownership to 10,247,478 shares.
• On June 16, 2025, 11,813 shares of Common Stock were purchased at a weighted average price of $10.13 per share, resulting in a total beneficial ownership of 10,259,291 shares.
• The shares are held indirectly by RA Capital Healthcare Fund, L.P., RA Capital Nexus Fund, L.P., and a separately managed account, for which RA Capital Management, L.P. serves as the investment manager.
• Dr. Peter Kolchinsky and Mr. Rajeev Shah, managing members of RA Capital Management GP, LLC (the general partner of RA Capital Management, L.P.), disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest.

Sentiment

Score: 8

Explanation: The significant increase in beneficial ownership by a major institutional investor and director group, RA Capital Management, indicates strong confidence in Tyra Biosciences, Inc.'s future prospects and valuation at the purchase prices.

Positives

• The significant increase in beneficial ownership by RA Capital Management, a major institutional investor and director group, signals strong confidence in Tyra Biosciences, Inc.'s future prospects.
• The purchases were made at prices ranging from $10.09 to $10.20, indicating a belief in the company's valuation at these levels.

Management Comments

• "The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $10.17 to $10.20 inclusive."
• "The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote."
• "RA Capital Management, L.P. (the 'Adviser'), the Adviser GP, Dr. Kolchinsky, and Mr. Shah disclaim beneficial ownership of any of the reported securities, except to the extent of their pecuniary interest therein."

Industry Context

This insider buying activity is common in the biotechnology and pharmaceutical sectors, where specialized institutional investors like RA Capital often take significant stakes and board positions to actively support and guide companies they believe have strong potential, particularly in early-stage or clinical development phases.

Corporate Governance

Related Party Transactions

• The reported transactions are purchases of common stock by entities and individuals (RA Capital Management, L.P., RA Capital Healthcare Fund LP, RA Capital Nexus Fund, L.P., Peter Kolchinsky, and Rajeev Shah) who are directors and/or 10% owners of Tyra Biosciences, Inc., making them related party transactions under SEC rules.

Stakeholder Impact

• Shareholders: The increased stake by a prominent institutional investor and director group may instill greater confidence in the company's stock and future performance, potentially leading to positive market sentiment.

Key Dates

Recommendation

Keywords

Tyra Biosciences, TYRA, RA Capital Management, Insider Trading, Beneficial Ownership, Stock Purchase, Institutional Investment, SEC Form 4, Biotechnology, Healthcare Investment