Tyra Biosciences (NASDAQ:TYRA) Trading 7.9% Higher – Here’s Why

Tyra Biosciences, Inc. (NASDAQ:TYRA) shares traded up 7.9% during trading on Tuesday . The stock traded as high as $16.30 and last traded at $16.30. 338,830 shares were traded during trading, an increase of 18% from the average session volume of 286,302 shares. The stock had previously closed at $15.10.

Wall Street Analyst Weigh In

TYRA has been the topic of a number of analyst reports. UBS Group assumed coverage on Tyra Biosciences in a research report on Tuesday, January 7th. They issued a “buy” rating and a $28.00 price target on the stock. Oppenheimer raised their target price on shares of Tyra Biosciences from $25.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of Tyra Biosciences in a report on Monday. Bank of America upgraded shares of Tyra Biosciences from a “neutral” rating to a “buy” rating and raised their price objective for the company from $22.00 to $31.00 in a report on Friday, October 18th. Finally, Wedbush reaffirmed an “outperform” rating and set a $28.00 price objective on shares of Tyra Biosciences in a research report on Friday, October 25th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $30.50.

Tyra Biosciences Stock Down 3.5 %

The company has a market cap of $817.19 million, a price-to-earnings ratio of -10.03 and a beta of 1.04. The business’s fifty day simple moving average is $15.38 and its two-hundred day simple moving average is $19.18.

Tyra Biosciences (NASDAQ:TYRA) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.01). Sell-side analysts predict that Tyra Biosciences, Inc. will post -1.57 EPS for the current fiscal year.

Insider Activity

In other news, Director Nina S. Kjellson sold 11,078 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $16.17, for a total transaction of $179,131.26. Following the transaction, the director now directly owns 472,207 shares in the company, valued at approximately $7,635,587.19. This trade represents a 2.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Alan Fuhrman purchased 9,500 shares of Tyra Biosciences stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average price of $16.00 per share, with a total value of $152,000.00. Following the transaction, the chief financial officer now owns 12,849 shares in the company, valued at $205,584. The trade was a 283.67 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 58,731 shares of company stock valued at $1,185,162. Insiders own 15.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. FMR LLC boosted its stake in shares of Tyra Biosciences by 0.8% during the third 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 during the period. Janus Henderson Group PLC purchased a new stake in Tyra Biosciences during the 3rd quarter valued at approximately $24,994,000. Perceptive Advisors LLC lifted its position in Tyra Biosciences by 50.5% during the 2nd quarter. Perceptive Advisors LLC now owns 1,007,367 shares of the company’s stock worth $16,108,000 after acquiring an additional 338,208 shares during the period. State Street Corp lifted its position in Tyra Biosciences by 4.4% during the 3rd quarter. State Street Corp now owns 384,732 shares of the company’s stock worth $9,045,000 after acquiring an additional 16,248 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Tyra Biosciences by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 368,647 shares of the company’s stock valued at $8,667,000 after purchasing an additional 3,896 shares during the last quarter. 84.14% of the stock is currently owned by institutional investors and hedge funds.

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.