Tyra Biosciences (NASDAQ:TYRA) Shares Gap Up After Strong Earnings

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $9.66, but opened at $10.50. Tyra Biosciences shares last traded at $9.93, with a volume of 29,153 shares.

The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.05.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of Tyra Biosciences in a report on Tuesday, February 18th. UBS Group started coverage on shares of Tyra Biosciences in a report on Tuesday, January 7th. They issued a “buy” rating and a $28.00 price objective on the stock. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Tyra Biosciences presently has an average rating of “Buy” and a consensus price target of $30.50.

Insider Activity at Tyra Biosciences

In related news, Director Nina S. Kjellson sold 7,779 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $16.29, for a total transaction of $126,719.91. Following the completion of the sale, the director now directly owns 447,857 shares in the company, valued at approximately $7,295,590.53. The trade was a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 21,998 shares of company stock worth $344,818. 15.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. RA Capital Management L.P. boosted its holdings in Tyra Biosciences by 2.1% during the 4th quarter. RA Capital Management L.P. now owns 10,637,290 shares of the company’s stock valued at $147,858,000 after acquiring an additional 220,681 shares during the period. Alta Partners Management Company L.P. purchased a new position in Tyra Biosciences during the fourth quarter worth about $56,716,000. FMR LLC boosted its position in shares of Tyra Biosciences by 0.8% in the 3rd quarter. FMR LLC now owns 3,372,850 shares of the company’s stock worth $79,296,000 after buying an additional 26,187 shares in the last quarter. Boxer Capital Management LLC acquired a new stake in shares of Tyra Biosciences during the 4th quarter worth about $28,185,000. Finally, Janus Henderson Group PLC grew its position in Tyra Biosciences by 63.6% during the fourth quarter. Janus Henderson Group PLC now owns 1,746,320 shares of the company’s stock valued at $24,291,000 after acquiring an additional 679,124 shares during the period. 84.14% of the stock is currently owned by institutional investors and hedge funds.

Tyra Biosciences Stock Up 2.3 %

The company has a 50 day simple moving average of $12.59 and a 200 day simple moving average of $16.45. The company has a market capitalization of $499.96 million, a price-to-earnings ratio of -6.14 and a beta of 1.09.

Tyra Biosciences Company Profile

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.