Tyra Biosciences (NASDAQ:TYRA) Shares Gap Up to $20.55

Tyra Biosciences, Inc. (NASDAQ:TYRA)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $20.55, but opened at $21.24. Tyra Biosciences shares last traded at $21.24, with a volume of 930 shares changing hands.

Wall Street Analyst Weigh In

TYRA has been the subject of a number of recent analyst reports. HC Wainwright reaffirmed 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 began coverage on shares of Tyra Biosciences in a report on Thursday, August 15th. They set an “overweight” rating and a $33.00 price objective for the company. Wedbush reiterated an “outperform” rating and set a $28.00 price objective on shares of Tyra Biosciences in a research report on Thursday, August 8th. Finally, Oppenheimer dropped their target price on shares of Tyra Biosciences from $28.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $24.80.

Tyra Biosciences Stock Down 6.3 %

The business’s fifty day moving average is $20.87 and its two-hundred day moving average is $18.61. The stock has a market capitalization of $1.05 billion, a PE ratio of -11.85 and a beta of 1.01.

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

Institutional Investors Weigh In On Tyra Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. bought a new position in shares of Tyra Biosciences during the 1st quarter valued at approximately $977,000. Vanguard Group Inc. raised its stake in shares of Tyra Biosciences by 18.6% in the first quarter. Vanguard Group Inc. now owns 899,800 shares of the company’s stock valued at $14,757,000 after acquiring an additional 140,833 shares during the period. Kynam Capital Management LP purchased a new position in shares of Tyra Biosciences during the 4th quarter worth about $4,712,000. 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 purchasing an additional 8,324 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Tyra Biosciences by 53.4% during the 4th quarter. Victory Capital Management Inc. now owns 50,220 shares of the company’s stock valued at $696,000 after purchasing an additional 17,490 shares during the last quarter. 84.14% of the stock is currently owned by hedge funds and other institutional investors.

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.