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

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TYRA shares. Wedbush reissued an “outperform” rating and issued a $28.00 price objective on shares of Tyra Biosciences in a research report on Friday, October 25th. Bank of America upgraded shares of Tyra Biosciences from a “neutral” rating to a “buy” rating and upped their target price for the company from $22.00 to $31.00 in a research note on Friday, October 18th. UBS Group began coverage on shares of Tyra Biosciences in a research note on Tuesday, January 7th. They issued a “buy” rating and a $28.00 target price for the company. Oppenheimer upped their target price on shares of Tyra Biosciences from $25.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Finally, HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Tyra Biosciences in a research note on Monday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Tyra Biosciences currently has an average rating of “Buy” and an average target price of $30.50.

Tyra Biosciences Trading Up 9.1 %

The stock has a market capitalization of $833.94 million, a P/E ratio of -10.24 and a beta of 1.04. The stock’s 50 day simple moving average is $15.42 and its 200 day simple moving average is $19.22.

Tyra Biosciences (NASDAQ:TYRA) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.01). On average, sell-side analysts expect that Tyra Biosciences, Inc. will post -1.57 EPS for the current fiscal year.

Insider Transactions at Tyra Biosciences

In related news, CEO Todd Harris sold 19,084 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $27.90, for a total value of $532,443.60. Following the sale, the chief executive officer now owns 1,355,927 shares of the company’s stock, valued at $37,830,363.30. This trade represents a 1.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nina S. Kjellson sold 27,493 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $16.56, for a total transaction of $455,284.08. Following the completion of the sale, the director now directly owns 458,506 shares in the company, valued at approximately $7,592,859.36. This trade represents a 5.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,125 shares of company stock worth $1,583,097. 15.40% of the stock is currently owned by insiders.

Institutional Trading of Tyra Biosciences

Large investors have recently modified their holdings of the company. American Century Companies Inc. increased its holdings in shares of Tyra Biosciences by 582.9% in the 2nd 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 during the period. Perceptive Advisors LLC increased its stake in Tyra Biosciences by 50.5% during the 2nd quarter. Perceptive Advisors LLC now owns 1,007,367 shares of the company’s stock valued at $16,108,000 after buying an additional 338,208 shares during the period. Janus Henderson Group PLC acquired a new position in Tyra Biosciences during the 3rd quarter valued at about $24,994,000. Ensign Peak Advisors Inc acquired a new position in Tyra Biosciences during the 2nd quarter valued at about $3,047,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Tyra Biosciences during the 3rd quarter valued at about $593,000. Institutional investors and hedge funds own 84.14% of the company’s stock.

Tyra Biosciences Company Profile

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.