Tyra Biosciences (NASDAQ:TYRA) Trading 5.6% Higher – Time to Buy?

Tyra Biosciences, Inc. (NASDAQ:TYRA)’s stock price was up 5.6% during mid-day trading on Thursday . The stock traded as high as $22.75 and last traded at $23.2390. 207,790 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 898,715 shares. The stock had previously closed at $22.01.

Tyra Biosciences News Summary

Here are the key news stories impacting Tyra Biosciences this week:

• Positive Sentiment: Tyra said the Phase II SURF302 study delivered clinical proof of concept in low-grade, intermediate-risk non-muscle-invasive bladder cancer and identified a 60 mg once-daily dose for planned registrational studies. Tyra announces initial data from Phase II SURF302 trial of dabogratinib
• Positive Sentiment: Wedbush reaffirmed its “outperform” rating and assigned a $53 price target, implying substantial upside from recent trading levels. The firm’s stance suggests confidence in dabogratinib’s longer-term development potential. Wedbush reaffirms outperform rating
• Neutral Sentiment: HC Wainwright maintained a “buy” rating but reduced its price target from $45 to $30, reflecting a more cautious view of the drug’s near-term prospects while retaining a bullish overall recommendation. HC Wainwright lowers Tyra price target
• Negative Sentiment: Investors viewed the bladder-cancer response data as weaker than expected, and reports highlighted adverse events among some patients. The results led to a significant selloff despite Tyra’s plans to advance dabogratinib into pivotal testing. Tyra shares slip as bladder cancer responses fall short of investor expectations

Analysts Set New Price Targets

A number of research firms recently weighed in on TYRA. Wedbush reaffirmed an “outperform” rating and issued a $53.00 price objective on shares of Tyra Biosciences in a research note on Thursday. HC Wainwright lowered their price target on shares of Tyra Biosciences from $45.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday. JonesTrading began coverage on shares of Tyra Biosciences in a report on Wednesday, June 17th. They set a “buy” rating and a $56.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tyra Biosciences in a research note on Thursday. Finally, Jefferies Financial Group reissued a “buy” rating and set a $42.00 price target on shares of Tyra Biosciences in a research report on Wednesday, August 5th. Eleven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $47.88.

Tyra Biosciences Trading Up 1.3%

The stock has a 50-day moving average price of $28.70 and a 200 day moving average price of $31.97. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of -9.28 and a beta of 0.73.

Tyra Biosciences (NASDAQ:TYRA) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.04). Equities research analysts anticipate that Tyra Biosciences, Inc. will post -2.74 earnings per share for the current year.

Institutional Trading of Tyra Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of TYRA. Tidal Investments LLC purchased a new stake in Tyra Biosciences during the second quarter worth about $943,000. WINTON GROUP Ltd purchased a new stake in shares of Tyra Biosciences during the 2nd quarter worth $537,000. Engineers Gate Manager LP acquired a new position in shares of Tyra Biosciences during the second quarter worth $1,021,000. Squarepoint Ops LLC grew its stake in shares of Tyra Biosciences by 211.3% during the second quarter. Squarepoint Ops LLC now owns 63,805 shares of the company’s stock worth $2,038,000 after purchasing an additional 43,311 shares in the last quarter. Finally, California State Teachers Retirement System increased its holdings in Tyra Biosciences by 55,815.5% in the second quarter. California State Teachers Retirement System now owns 783,935 shares of the company’s stock valued at $24,544,000 after buying an additional 782,533 shares during the last quarter. 84.14% of the stock is owned by institutional investors and hedge funds.

Tyra Biosciences Company Profile

Tyra Biosciences (NASDAQ: TYRA) is a clinical-stage precision oncology company focused on the discovery and development of small-molecule therapies for genetically defined cancers. The company integrates bioinformatics, molecular biology and medicinal chemistry to identify oncogenic drivers and design targeted inhibitors. By leveraging large-scale genomic datasets and functional screening, Tyra Biosciences aims to advance therapies that address patient populations with high unmet medical need.

The company’s pipeline includes multiple programs at various stages of development, each directed against distinct molecular vulnerabilities in cancer cells.