Tyra Biosciences (NASDAQ:TYRA) Sees Strong Trading Volume After Analyst Upgrade

Tyra Biosciences, Inc. (NASDAQ:TYRA) shares saw an uptick in trading volume on Monday after HC Wainwright raised their price target on the stock from $30.00 to $32.00. HC Wainwright currently has a buy rating on the stock. 120,491 shares changed hands during trading, a decline of 27% from the previous session’s volume of 165,546 shares.The stock last traded at $21.06 and had previously closed at $21.93.

Other equities research analysts also recently issued research reports about the stock. Oppenheimer upped their price objective on shares of Tyra Biosciences from $25.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Bank of America raised shares of Tyra Biosciences from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $22.00 to $31.00 in a report on Friday, October 18th. Wedbush reissued an “outperform” rating and issued a $28.00 price target on shares of Tyra Biosciences in a report on Friday. Finally, Piper Sandler began coverage on shares of Tyra Biosciences in a report on Thursday, August 15th. They issued an “overweight” rating and a $33.00 price target for the company. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $31.40.

Insider Buying and Selling at Tyra Biosciences

In other Tyra Biosciences news, CEO Todd Harris sold 10,092 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $24.13, for a total transaction of $243,519.96. Following the sale, the chief executive officer now owns 1,479,528 shares in the company, valued at approximately $35,701,010.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 61,403 shares of company stock valued at $1,582,774. 15.40% of the stock is owned by insiders.

Institutional Trading of Tyra Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in Tyra Biosciences during the 3rd quarter worth about $311,000. HighVista Strategies LLC acquired a new stake in Tyra Biosciences during the 2nd quarter worth about $257,000. Rhumbline Advisers raised its holdings in Tyra Biosciences by 12.3% during the 2nd quarter. Rhumbline Advisers now owns 23,572 shares of the company’s stock worth $377,000 after buying an additional 2,574 shares during the period. Bank of New York Mellon Corp raised its holdings in Tyra Biosciences by 32.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 58,087 shares of the company’s stock worth $929,000 after buying an additional 14,352 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Tyra Biosciences in the 1st quarter valued at about $977,000. Institutional investors and hedge funds own 84.14% of the company’s stock.

Tyra Biosciences Trading Down 3.0 %

The company has a market cap of $1.12 billion, a price-to-earnings ratio of -12.98 and a beta of 1.01. The business has a fifty day moving average price of $22.89 and a two-hundred day moving average price of $19.87.

Tyra Biosciences (NASDAQ:TYRA) last issued its earnings results on Wednesday, August 7th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.09. On average, analysts anticipate that Tyra Biosciences, Inc. will post -1.53 EPS for the current year.

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.