Tyra Biosciences (NASDAQ:TYRA) Sees Strong Trading Volume

Tyra Biosciences, Inc. (NASDAQ:TYRA) shares saw unusually-high trading volume on Monday . Approximately 163,109 shares were traded during trading, an increase of 12% from the previous session’s volume of 145,842 shares.The stock last traded at $20.43 and had previously closed at $20.08.

Analysts Set New Price Targets

TYRA has been the topic of several research analyst reports. Wedbush reiterated an “outperform” rating and set a $28.00 price target on shares of Tyra Biosciences in a research note on Thursday, August 8th. Oppenheimer cut their price target on shares of Tyra Biosciences from $28.00 to $25.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, HC Wainwright reiterated a “buy” rating and set a $23.00 price target on shares of Tyra Biosciences in a research note on Wednesday, July 3rd.

Tyra Biosciences Stock Performance

The company has a market capitalization of $1.13 billion, a PE ratio of -12.84 and a beta of 1.02. The company’s 50-day simple moving average is $19.10 and its 200-day simple moving average is $18.00.

Tyra Biosciences (NASDAQ:TYRA) last issued its earnings results 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. Analysts expect that Tyra Biosciences, Inc. will post -1.63 EPS for the current year.

Insider Buying and Selling

In related news, COO Daniel Bensen sold 3,502 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $20.00, for a total transaction of $70,040.00. Following the sale, the chief operating officer now owns 427,981 shares of the company’s stock, valued at $8,559,620. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 15.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Tyra Biosciences

Several institutional investors and hedge funds have recently modified their holdings of the company. RA Capital Management L.P. raised its stake in Tyra Biosciences by 43.9% during the first quarter. RA Capital Management L.P. now owns 10,416,609 shares of the company’s stock worth $170,832,000 after purchasing an additional 3,180,155 shares during the period. BVF Inc. IL raised its stake in Tyra Biosciences by 70.1% during the first quarter. BVF Inc. IL now owns 4,661,194 shares of the company’s stock worth $76,444,000 after purchasing an additional 1,921,599 shares during the period. Kynam Capital Management LP purchased a new position in Tyra Biosciences during the fourth quarter worth approximately $4,712,000. Ally Bridge Group NY LLC purchased a new position in Tyra Biosciences during the second quarter worth approximately $4,232,000. Finally, Ensign Peak Advisors Inc purchased a new position in Tyra Biosciences during the second quarter worth approximately $3,047,000. Hedge funds and other institutional investors 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.