Tyra Biosciences (NASDAQ:TYRA) Shares Gap Up After Better-Than-Expected Earnings

Tyra Biosciences, Inc. (NASDAQ:TYRA)’s share price gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $9.66, but opened at $10.50. Tyra Biosciences shares last traded at $9.93, with a volume of 29,153 shares trading hands.

The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.05.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TYRA shares. HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of Tyra Biosciences in a research report on Tuesday, February 18th. UBS Group started coverage on shares of Tyra Biosciences in a report on Tuesday, January 7th. They set a “buy” rating and a $28.00 price target on the stock. Finally, Wedbush reiterated an “outperform” rating and set a $30.00 price target on shares of Tyra Biosciences in a report on Friday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $30.83.

Insiders Place Their Bets

In other Tyra Biosciences news, Director Nina S. Kjellson sold 7,779 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $16.29, for a total value of $126,719.91. Following the sale, the director now owns 447,857 shares of the company’s stock, valued at $7,295,590.53. This trade represents a 1.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold 21,998 shares of company stock valued at $344,818 over the last 90 days. 15.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. RA Capital Management L.P. raised its stake in Tyra Biosciences by 2.1% during the 4th quarter. RA Capital Management L.P. now owns 10,637,290 shares of the company’s stock valued at $147,858,000 after purchasing an additional 220,681 shares during the last quarter. Alta Partners Management Company L.P. bought a new position in shares of Tyra Biosciences during the 4th quarter worth about $56,716,000. FMR LLC raised its position 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 valued at $79,296,000 after buying an additional 26,187 shares during the last quarter. Boxer Capital Management LLC bought a new stake in shares of Tyra Biosciences in the fourth quarter valued at about $28,185,000. Finally, Janus Henderson Group PLC grew its position in Tyra Biosciences by 63.6% during the fourth quarter. Janus Henderson Group PLC now owns 1,746,320 shares of the company’s stock worth $24,291,000 after buying an additional 679,124 shares in the last quarter. 84.14% of the stock is currently owned by institutional investors and hedge funds.

Tyra Biosciences Trading Up 1.1 %

The company has a fifty day moving average price of $12.46 and a two-hundred day moving average price of $16.36. The company has a market cap of $494.39 million, a price-to-earnings ratio of -6.07 and a beta of 1.09.

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.