Tyra Biosciences (NASDAQ:TYRA) Shares Up 7.9% – Here’s What Happened

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on TYRA. Oppenheimer lifted 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 reaffirmed a “buy” rating and issued a $30.00 target price on shares of Tyra Biosciences in a report on Monday. Bank of America raised shares of Tyra Biosciences from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $22.00 to $31.00 in a report on Friday, October 18th. UBS Group initiated coverage on shares of Tyra Biosciences in a report on Tuesday, January 7th. They set a “buy” rating and a $28.00 price objective on the stock. Finally, Wedbush reissued an “outperform” rating and set a $28.00 price objective on shares of Tyra Biosciences in a report on Friday, October 25th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $30.50.

Tyra Biosciences Stock Up 9.1 %

The company has a market cap of $833.94 million, a PE ratio of -10.24 and a beta of 1.04. The firm’s fifty day simple moving average is $15.42 and its 200-day simple moving average is $19.22.

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

Insider Activity

In other news, Director Nina S. Kjellson sold 11,078 shares of the business’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 value of $179,131.26. Following the completion of the transaction, the director now owns 472,207 shares of the company’s stock, valued at $7,635,587.19. The trade was a 2.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Todd Harris sold 19,084 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $27.90, for a total transaction of $532,443.60. Following the completion of the transaction, the chief executive officer now directly owns 1,355,927 shares of the company’s stock, valued at approximately $37,830,363.30. This represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,125 shares of company stock valued at $1,583,097 over the last 90 days. Insiders own 15.40% of the company’s stock.

Hedge Funds Weigh In On Tyra Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of TYRA. Bank of New York Mellon Corp increased its position in Tyra Biosciences by 32.8% during the second quarter. Bank of New York Mellon Corp now owns 58,087 shares of the company’s stock worth $929,000 after purchasing an additional 14,352 shares during the last quarter. Rhumbline Advisers increased its position in Tyra Biosciences by 12.3% during the second quarter. Rhumbline Advisers now owns 23,572 shares of the company’s stock worth $377,000 after purchasing an additional 2,574 shares during the last quarter. American Century Companies Inc. increased its position in shares of Tyra Biosciences by 582.9% in the second quarter. American Century Companies Inc. now owns 170,283 shares of the company’s stock worth $2,723,000 after acquiring an additional 145,346 shares in the last quarter. Ensign Peak Advisors Inc acquired a new stake in shares of Tyra Biosciences in the second quarter worth $3,047,000. Finally, HighVista Strategies LLC acquired a new stake in shares of Tyra Biosciences in the second quarter worth $257,000. Institutional investors and hedge funds own 84.14% of the company’s stock.

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.