Key Points
Boone Capital added 398,482 shares of TYRA in the fourth quarter.
The quarter-end position value rose by $10.48 million as a result of the new stake.
The new position, though significant, is not among the fund’s top five holdings.
On February 17, 2026, Boone Capital Management disclosed a new position in Tyra Biosciences(NASDAQ:TYRA), acquiring 398,482 shares worth $10.48 million at quarter’s end.
What happened
According to a Securities and Exchange Commission (SEC) filing dated February 17, 2026, Boone Capital Management reported acquiring 398,482 shares of Tyra Biosciences in the fourth quarter. The estimated value of these shares was $10.48 million at quarter’s end.
What else to know
- This new position represents 3.3% of the fund’s 13F reportable AUM as of December 31, 2025.
- Top holdings after the filing:
- NYSE:MDT: $41.19 million (12.9% of AUM)
- NASDAQ:MIRM: $33.27 million (10.4% of AUM)
- NASDAQ:IONS: $33.05 million (10.4% of AUM)
- NYSE:CI: $26.55 million (8.3% of AUM)
- NASDAQ:BMRN: $24.48 million (7.7% of AUM)
- As of Friday, shares were priced at $38.67, up a staggering 253% over the past year and significantly outperforming the S&P 500, which is instead up about 16% in the same period.
Company overview
| Metric | Value |
|---|---|
| Price (as of Friday) | $38.67 |
| Market Capitalization | $2.1 billion |
| Net Income (TTM) | ($119.95 million) |
Company snapshot
- Tyra Biosciences develops targeted oncology therapies, with a lead candidate (TYRA-300) focused on FGFR3 inhibition for muscle invasive bladder cancer; additional pipeline programs address FGFR2-driven cholangiocarcinoma, achondroplasia, and other FGFR/kinase-related diseases.
- The firm operates a preclinical-stage biopharmaceutical model, generating value through proprietary drug discovery and development, with future revenue expected from out-licensing, milestone payments, or commercialization of approved therapies.
- It targets oncology specialists, healthcare providers, and patients with cancers driven by FGFR/kinase mutations, as well as potential pharmaceutical partners for collaboration or licensing opportunities.
Tyra Biosciences is a biotechnology company specializing in the discovery and development of precision therapies for cancer and rare diseases. The company leverages its proprietary SNAP platform to accelerate drug design and address tumor resistance mechanisms. With a focused pipeline and expertise in FGFR biology, Tyra aims to establish a competitive position in targeted oncology therapeutics.
What this transaction means for investors
Momentum like this usually scares people off, but in biotech, a big move can often signal something more important than hype, especially when it’s backed by real progress.
Tyra is still early, but it is no longer just a concept. Management is narrowing its focus around a defined clinical strategy, with three Phase 2 programs targeting indications where FGFR3 biology is well understood. That kind of discipline matters, especially when capital is finite. The company ended the year with about $256 million in cash and investments, enough to fund operations into at least 2027, giving it enough runway through at least next year.
Losses, however, are still significant, with net loss approaching $120 million for the year, but that is the cost of advancing multiple trials simultaneously. Compared with the fund’s larger holdings in established healthcare and biotech names, this position is clearly more opportunistic and sized accordingly. Shares have climbed about 47% since the end of last quarter, so it seems like the entry has likely paid off for now.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Ionis Pharmaceuticals and Mirum Pharmaceuticals. The Motley Fool recommends BioMarin Pharmaceutical and Medtronic. The Motley Fool has a disclosure policy.
