Tyra Biosciences (NASDAQ:TYRA) Stock Price Up 7.9% – Still a Buy?

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

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Bank of America raised Tyra Biosciences from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $22.00 to $31.00 in a research note on Friday, October 18th. Oppenheimer upped their target price 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. 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 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Tyra Biosciences in a research note on Monday. Finally, Wedbush reissued an “outperform” rating and issued a $28.00 target price on shares of Tyra Biosciences in a research note on Friday, October 25th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Tyra Biosciences has a consensus rating of “Buy” and an average price target of $30.50.

Tyra Biosciences Price Performance

The stock has a market cap of $817.19 million, a PE ratio of -10.03 and a beta of 1.04. The stock’s fifty day moving average is $15.38 and its 200-day moving average is $19.18.

Tyra Biosciences (NASDAQ:TYRA) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.41) earnings per share (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 Buying and Selling at Tyra Biosciences

In related news, CEO Todd Harris sold 19,084 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $27.90, for a total transaction of $532,443.60. Following the completion of the transaction, the chief executive officer now owns 1,355,927 shares of the company’s stock, valued at approximately $37,830,363.30. This trade represents a 1.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Alan Fuhrman bought 9,500 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was purchased at an average cost of $16.00 per share, for a total transaction of $152,000.00. Following the transaction, the chief financial officer now owns 12,849 shares of the company’s stock, valued at $205,584. This trade represents a 283.67 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 58,731 shares of company stock worth $1,185,162 over the last quarter. 15.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tyra Biosciences

Institutional investors have recently modified their holdings of the company. HighVista Strategies LLC purchased a new position in Tyra Biosciences during the 2nd quarter valued at about $257,000. Franklin Resources Inc. acquired a new stake in shares of Tyra Biosciences during the third quarter worth about $278,000. Valence8 US LP purchased a new position in shares of Tyra Biosciences in the third quarter valued at approximately $310,000. SG Americas Securities LLC acquired a new position in shares of Tyra Biosciences in the third quarter valued at approximately $311,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Tyra Biosciences during the 3rd quarter worth approximately $333,000. 84.14% of the stock is owned by institutional investors and hedge funds.

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.