Tyra Biosciences (NASDAQ:TYRA) Shares Up 4.2% – Here’s Why

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) shot up 4.2% on Monday . The company traded as high as $28.81 and last traded at $28.47. 182,782 shares changed hands during trading, an increase of 21% from the average session volume of 151,518 shares. The stock had previously closed at $27.33.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TYRA. Wedbush reiterated an “outperform” rating and set a $28.00 price objective on shares of Tyra Biosciences in a research report on Thursday, August 8th. Piper Sandler started coverage on shares of Tyra Biosciences in a research report on Thursday, August 15th. They set an “overweight” rating and a $33.00 price objective on the stock. HC Wainwright upped their price target on shares of Tyra Biosciences from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Bank of America upgraded shares of Tyra Biosciences from a “neutral” rating to a “buy” rating and upped their price target for the stock from $22.00 to $31.00 in a report on Friday. Finally, Oppenheimer upped their price target on shares of Tyra Biosciences from $25.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $31.00.

Tyra Biosciences Stock Up 3.8 %

The stock’s 50 day moving average is $22.32 and its two-hundred day moving average is $19.52. The company has a market capitalization of $1.50 billion, a PE ratio of -16.17 and a beta of 1.01.

Tyra Biosciences (NASDAQ:TYRA) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.09. On average, sell-side analysts predict that Tyra Biosciences, Inc. will post -1.53 EPS for the current fiscal year.

Insider Buying and Selling at Tyra Biosciences

In other Tyra Biosciences news, CEO Todd Harris sold 10,092 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $24.13, for a total transaction of $243,519.96. Following the completion of the sale, the chief executive officer now directly owns 1,479,528 shares of the company’s stock, valued at approximately $35,701,010.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 42,319 shares of company stock valued at $1,050,330. 15.40% of the stock is currently owned by insiders.

Institutional Trading of Tyra Biosciences

Hedge funds have recently modified their holdings of the company. Oppenheimer & Co. Inc. purchased a new position in shares of Tyra Biosciences in the 1st quarter valued at approximately $977,000. Vanguard Group Inc. raised its position in shares of Tyra Biosciences by 18.6% in the 1st quarter. Vanguard Group Inc. now owns 899,800 shares of the company’s stock valued at $14,757,000 after purchasing an additional 140,833 shares during the last quarter. American Century Companies Inc. raised its position in shares of Tyra Biosciences by 582.9% in the 2nd quarter. American Century Companies Inc. now owns 170,283 shares of the company’s stock valued at $2,723,000 after purchasing an additional 145,346 shares during the last quarter. Perceptive Advisors LLC raised its position in shares of Tyra Biosciences by 50.5% in the 2nd quarter. Perceptive Advisors LLC now owns 1,007,367 shares of the company’s stock valued at $16,108,000 after purchasing an additional 338,208 shares during the last quarter. Finally, Ensign Peak Advisors Inc purchased a new position in shares of Tyra Biosciences in the 2nd quarter valued at approximately $3,047,000. 84.14% of the stock is owned by hedge funds and other institutional investors.

About Tyra Biosciences

Tyra Biosciences, Inc, a clinical-stage biotechnology company, develops precision medicines for fibroblast growth factor receptor (FGFR) biology in the United States. The company offers SNÅP, a precision medicine platform that enables drug design through iterative molecular snapshots to predict genetic alterations for developing therapies targeting oncology and genetically defined conditions.