Tyra Biosciences (NASDAQ:TYRA) Trading Up 4.2% – Here’s What Happened

Tyra Biosciences, Inc. (NASDAQ:TYRA) rose 4.2% on Monday . The company traded as high as $28.81 and last traded at $28.47. Approximately 182,782 shares were traded during trading, an increase of 21% from the average daily volume of 151,518 shares. The stock had previously closed at $27.33.

Analyst Ratings Changes

TYRA has been the subject of a number of recent research reports. Oppenheimer lifted their price objective on Tyra Biosciences from $25.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. HC Wainwright lifted their price target on Tyra Biosciences from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Wedbush restated an “outperform” rating and issued a $28.00 price target on shares of Tyra Biosciences in a research note on Thursday, August 8th. Piper Sandler started coverage on Tyra Biosciences in a research note on Thursday, August 15th. They issued an “overweight” rating and a $33.00 price target for the company. Finally, Bank of America upgraded Tyra Biosciences from a “neutral” rating to a “buy” rating and lifted their price target for the company from $22.00 to $31.00 in a research note on Friday, October 18th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $31.00.

Tyra Biosciences Stock Performance

The company has a 50 day simple moving average of $22.62 and a 200 day simple moving average of $19.67. The company has a market capitalization of $1.48 billion, a PE ratio of -16.61 and a beta of 1.01.

Tyra Biosciences (NASDAQ:TYRA) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.09. As a group, equities research analysts anticipate that Tyra Biosciences, Inc. will post -1.53 EPS for the current year.

Insider Transactions at Tyra Biosciences

In other news, CEO Todd Harris sold 10,092 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $24.13, for a total transaction of $243,519.96. Following the transaction, the chief executive officer now directly owns 1,479,528 shares in the company, valued at $35,701,010.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 61,403 shares of company stock worth $1,582,774 in the last ninety days. Insiders own 15.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in shares of Tyra Biosciences during the 3rd quarter worth approximately $311,000. HighVista Strategies LLC acquired a new position in Tyra Biosciences in the second quarter valued at approximately $257,000. Rhumbline Advisers lifted its holdings in Tyra Biosciences by 12.3% in the second quarter. Rhumbline Advisers now owns 23,572 shares of the company’s stock valued at $377,000 after acquiring an additional 2,574 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Tyra Biosciences by 32.8% in the second quarter. Bank of New York Mellon Corp now owns 58,087 shares of the company’s stock valued at $929,000 after acquiring an additional 14,352 shares during the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new position in Tyra Biosciences in the first quarter valued at approximately $977,000. 84.14% of the stock is currently owned by institutional investors and hedge funds.

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.