Tyra Biosciences (NASDAQ:TYRA) Sees Large Volume Increase

Tyra Biosciences, Inc. (NASDAQ:TYRA) shares saw strong trading volume on Thursday . 208,267 shares were traded during mid-day trading, an increase of 43% from the previous session’s volume of 145,686 shares.The stock last traded at $22.68 and had previously closed at $22.68.

Wall Street Analyst Weigh In

Several research firms have commented on TYRA. HC Wainwright reiterated a “buy” rating and issued a $23.00 price objective on shares of Tyra Biosciences in a research note on Wednesday, July 3rd. Piper Sandler initiated coverage on shares of Tyra Biosciences in a research note on Thursday, August 15th. They issued an “overweight” rating and a $33.00 price objective for the company. Wedbush restated an “outperform” rating and set a $28.00 price target on shares of Tyra Biosciences in a research note on Thursday, August 8th. Finally, Oppenheimer cut their price objective on shares of Tyra Biosciences from $28.00 to $25.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.80.

Tyra Biosciences Stock Down 3.0 %

The business’s 50-day simple moving average is $19.38 and its 200-day simple moving average is $18.30. The stock has a market cap of $1.16 billion, a PE ratio of -13.50 and a beta of 1.02.

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

Insider Buying and Selling

In related news, COO Daniel Bensen sold 3,502 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $20.00, for a total value of $70,040.00. Following the completion of the transaction, the chief operating officer now directly owns 427,981 shares of the company’s stock, valued at $8,559,620. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 15.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Tyra Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the business. Oppenheimer & Co. Inc. purchased a new stake in Tyra Biosciences in the first quarter worth approximately $977,000. Vanguard Group Inc. boosted its holdings in Tyra Biosciences by 18.6% in the first quarter. Vanguard Group Inc. now owns 899,800 shares of the company’s stock worth $14,757,000 after purchasing an additional 140,833 shares during the last quarter. Kynam Capital Management LP purchased a new stake in Tyra Biosciences in the fourth quarter worth approximately $4,712,000. AJOVista LLC purchased a new stake in Tyra Biosciences in the fourth quarter worth approximately $59,000. Finally, Wellington Management Group LLP boosted its stake in shares of Tyra Biosciences by 8.8% during the 4th quarter. Wellington Management Group LLP now owns 102,436 shares of the company’s stock worth $1,419,000 after acquiring an additional 8,324 shares during the last quarter. Institutional investors 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.