Tyra Biosciences (NASDAQ:TYRA) Sees Large Volume Increase

Tyra Biosciences, Inc. (NASDAQ:TYRA) saw unusually-strong trading volume on Thursday . Approximately 208,267 shares traded hands 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.

Analysts Set New Price Targets

Several research firms have recently commented on TYRA. HC Wainwright restated a “buy” rating and set a $23.00 price target on shares of Tyra Biosciences in a research note on Wednesday, July 3rd. 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. Piper Sandler assumed coverage on Tyra Biosciences in a research note on Thursday, August 15th. They set an “overweight” rating and a $33.00 price target for the company. Finally, Oppenheimer lowered their target price on Tyra Biosciences from $28.00 to $25.00 and set an “outperform” rating on the stock 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.80.

Tyra Biosciences Stock Down 3.0 %

The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -13.50 and a beta of 1.02. The business has a 50 day moving average of $19.38 and a 200 day moving average of $18.30.

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

Insider Buying and Selling

In other news, COO Daniel Bensen sold 3,502 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $20.00, for a total value of $70,040.00. Following the transaction, the chief operating officer now directly owns 427,981 shares in the company, valued at approximately $8,559,620. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 15.40% of the stock is currently owned by company insiders.

Institutional Trading of Tyra Biosciences

Several institutional investors have recently modified their holdings of the company. Federated Hermes Inc. raised its position in shares of Tyra Biosciences by 1,244.2% during the fourth quarter. Federated Hermes Inc. now owns 2,070 shares of the company’s stock worth $29,000 after purchasing an additional 1,916 shares during the period. AJOVista LLC acquired a new position in Tyra Biosciences in the 4th quarter worth about $59,000. Fishman Jay A Ltd. MI acquired a new position in Tyra Biosciences in the 1st quarter worth about $246,000. HighVista Strategies LLC acquired a new position in Tyra Biosciences in the 2nd quarter worth about $257,000. Finally, Rhumbline Advisers increased its position in Tyra Biosciences by 12.3% in the 2nd quarter. Rhumbline Advisers now owns 23,572 shares of the company’s stock worth $377,000 after purchasing an additional 2,574 shares during the last quarter. Institutional investors and hedge funds 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.