Form 4: RA Capital Management Boosts Stake in Tyra Biosciences with Significant Share Purchase

RA Capital Management, a prominent institutional investor and 10% owner of Tyra Biosciences, Inc., has increased its beneficial ownership by acquiring an additional 186,850 shares of common stock.

Summary

• RA Capital Management, L.P., along with its affiliated entities including RA Capital Healthcare Fund, L.P., RA Capital Nexus Fund, L.P., and a separately managed account, reported an acquisition of Tyra Biosciences, Inc. common stock.
• On June 9, 2025, a total of 186,850 shares of common stock were purchased at a weighted average price of $10.19 per share, with individual transaction prices ranging from $10.14 to $10.20.
• Following this transaction, the collective beneficial ownership of common stock by the reporting persons stands at 12,035,338 shares.
• Specifically, RA Capital Healthcare Fund, L.P. holds 10,096,004 shares, RA Capital Nexus Fund, L.P. holds 1,496,613 shares, and the separately managed account holds 442,721 shares.
• Peter Kolchinsky and Rajeev Shah, managing members of RA Capital Management GP, LLC, and the Adviser, disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest.
• Jake Simson, a Partner of RA Capital Management, currently serves on Tyra Biosciences' board of directors.

Sentiment

Score: 8

Explanation: The sentiment is positive due to significant insider buying by a major institutional investor, indicating strong confidence in the company's value and future prospects. This type of transaction is generally viewed favorably by the market.

Positives

• Significant insider buying by a major institutional investor (RA Capital Management) and its affiliates, signaling strong confidence in Tyra Biosciences, Inc.'s prospects.
• The purchase further increases RA Capital's already substantial stake, reinforcing its commitment and alignment with the company's long-term success.
• The transaction was executed pursuant to a Rule 10b5-1 plan, indicating a pre-planned and systematic investment strategy.

Future Outlook

This Form 4 filing does not provide forward-looking statements or guidance regarding the company's future performance or outlook, as it is solely a report of insider transactions.

Management Comments

• "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."
• "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

The acquisition of additional shares by a prominent healthcare-focused investment firm like RA Capital Management in Tyra Biosciences, a biotechnology company, suggests continued investor confidence in the biotech sector, particularly in companies with promising pipelines or strategic positioning. Such insider buying can be viewed positively by the market, indicating that informed investors see value in the company's current valuation or future prospects.

Related Party Transactions

• The purchase of shares by RA Capital Management, L.P. and its affiliates, who are also 10% owners and have director representation on Tyra Biosciences' board, constitutes a related party transaction.

Stakeholder Impact

• Shareholders: The insider buying by a significant institutional investor may instill confidence and potentially lead to positive market perception, benefiting existing shareholders.
• Management: The increased stake by a major investor could imply closer scrutiny or strategic alignment with RA Capital Management's interests.

Next Steps

• Tyra Biosciences, Inc. will continue its operations and strategic initiatives.
• RA Capital Management will continue to hold its significant stake and potentially influence corporate governance through its director representation.

Key Dates

Recommendation

Keywords

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