Tyra Biosciences (NASDAQ:TYRA) Hits New 12-Month High – Here’s What Happened

Tyra Biosciences, Inc. (NASDAQ:TYRA)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $28.99 and last traded at $28.90, with a volume of 116088 shares traded. The stock had previously closed at $28.16.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TYRA shares. Wedbush reiterated an “outperform” rating and issued a $28.00 target price on shares of Tyra Biosciences in a report on Friday. Piper Sandler started coverage on Tyra Biosciences in a report on Thursday, August 15th. They issued an “overweight” rating and a $33.00 target price on the stock. HC Wainwright increased their target price on Tyra Biosciences from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Bank of America upgraded Tyra Biosciences from a “neutral” rating to a “buy” rating and increased their target price for the stock from $22.00 to $31.00 in a report on Friday, October 18th. Finally, Oppenheimer increased their target price on Tyra Biosciences from $25.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Tyra Biosciences presently has a consensus rating of “Buy” and an average target price of $31.00.

Tyra Biosciences Stock Performance

The firm has a 50 day simple moving average of $22.88 and a two-hundred day simple moving average of $19.79. The firm has a market capitalization of $1.16 billion, a P/E ratio of -13.89 and a beta of 1.01.

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

Insider Activity

In other news, CEO Todd Harris sold 5,698 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $24.31, for a total transaction of $138,518.38. Following the completion of the sale, the chief executive officer now directly owns 1,496,729 shares of the company’s stock, valued at $36,385,481.99. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 61,403 shares of company stock valued at $1,582,774 in the last ninety days. 15.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tyra Biosciences

Several large investors have recently made changes to their positions in the business. RA Capital Management L.P. increased its position in shares of Tyra Biosciences by 43.9% during the 1st quarter. RA Capital Management L.P. now owns 10,416,609 shares of the company’s stock valued at $170,832,000 after purchasing an additional 3,180,155 shares during the last quarter. BVF Inc. IL increased its holdings in Tyra Biosciences by 70.1% in the 1st quarter. BVF Inc. IL now owns 4,661,194 shares of the company’s stock worth $76,444,000 after acquiring an additional 1,921,599 shares during the last quarter. Perceptive Advisors LLC increased its holdings in Tyra Biosciences by 50.5% in the 2nd quarter. Perceptive Advisors LLC now owns 1,007,367 shares of the company’s stock worth $16,108,000 after acquiring an additional 338,208 shares during the last quarter. Vanguard Group Inc. increased its holdings in Tyra Biosciences by 18.6% in the 1st quarter. Vanguard Group Inc. now owns 899,800 shares of the company’s stock worth $14,757,000 after acquiring an additional 140,833 shares during the last quarter. Finally, Kynam Capital Management LP increased its holdings in Tyra Biosciences by 51.4% in the 1st quarter. Kynam Capital Management LP now owns 515,190 shares of the company’s stock worth $8,449,000 after acquiring an additional 175,000 shares during the last quarter. 84.14% of the stock is owned by hedge funds and other institutional investors.

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.