Tyra Biosciences Target of Unusually High Options Trading (NASDAQ:TYRA)

Tyra Biosciences, Inc. (NASDAQ:TYRA) was the target of unusually large options trading on Friday. Stock traders acquired 5,577 call options on the company. This represents an increase of approximately 4,257% compared to the typical daily volume of 128 call options.

Institutional Trading of Tyra Biosciences

Hedge funds have recently added to or reduced their stakes in the business. Hilton Head Capital Partners LLC bought a new position in Tyra Biosciences during the 1st quarter worth about $30,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Tyra Biosciences in the 4th quarter worth approximately $51,000. State of Wyoming bought a new position in shares of Tyra Biosciences during the second quarter valued at approximately $76,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Tyra Biosciences by 14.5% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,182 shares of the company’s stock valued at $126,000 after purchasing an additional 1,668 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Tyra Biosciences by 27.7% during the third quarter. Russell Investments Group Ltd. now owns 12,741 shares of the company’s stock valued at $178,000 after buying an additional 2,766 shares during the period. 84.14% of the stock is owned by hedge funds and other institutional investors.

Tyra Biosciences Stock Performance

NASDAQ TYRA traded up $3.84 on Friday, reaching $28.70. 210,974 shares of the stock traded hands, compared to its average volume of 861,206. Tyra Biosciences has a 12 month low of $11.70 and a 12 month high of $40.65. The company has a market cap of $1.71 billion, a price-to-earnings ratio of -11.64 and a beta of 0.73. The company has a fifty day moving average price of $29.09 and a 200-day moving average price of $32.05.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Tyra Biosciences in a research note on Friday, July 17th. HC Wainwright reaffirmed a “buy” rating and issued a $45.00 price target on shares of Tyra Biosciences in a research note on Thursday, May 14th. Wolfe Research initiated coverage on shares of Tyra Biosciences in a research note on Tuesday, May 19th. They issued a “peer perform” rating on the stock. JonesTrading initiated coverage on shares of Tyra Biosciences in a report on Wednesday, June 17th. They set a “buy” rating and a $56.00 price objective for the company. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $42.00 price objective on shares of Tyra Biosciences in a research report on Wednesday, August 5th. Twelve equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.22.

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.