Tyra Biosciences (NASDAQ:TYRA) Sets New 52-Week High - What's Next?

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report)'s stock price hit a new 52-week high during 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 Analyst Weigh In

A number of brokerages recently commented on TYRA. HC Wainwright raised their price objective on shares of Tyra Biosciences from $25.00 to $30.00 and gave the stock a "buy" rating in a report on Monday, October 7th. Oppenheimer raised their price objective 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. 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 on the stock. Wedbush restated an "outperform" rating and set a $28.00 price objective on shares of Tyra Biosciences in a report on Thursday, August 8th. Finally, Bank of America upgraded shares of Tyra Biosciences from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $22.00 to $31.00 in a report on Friday, October 18th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average price target of $31.00.

Tyra Biosciences Trading Up 0.3 %

The firm's 50 day simple moving average is $22.75 and its 200-day simple moving average is $19.73. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -16.81 and a beta of 1.01.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.09. As a group, equities research analysts predict that Tyra Biosciences, Inc. will post -1.53 earnings per share for the current year.

Insider Activity

In other news, CEO Todd Harris sold 10,092 shares of Tyra Biosciences stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $24.13, for a total value of $243,519.96. Following the completion of the transaction, the chief executive officer now owns 1,479,528 shares of the company's stock, valued at $35,701,010.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 61,403 shares of company stock valued at $1,582,774 in the last quarter. Company insiders own 15.40% of the company's stock.

Institutional Trading of Tyra Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers boosted its holdings in shares of Tyra Biosciences by 12.3% during the 2nd quarter. Rhumbline Advisers now owns 23,572 shares of the company's stock worth $377,000 after buying an additional 2,574 shares during the period. Wellington Management Group LLP boosted its holdings 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 buying an additional 8,324 shares during the period. SG Americas Securities LLC bought a new stake in shares of Tyra Biosciences during the 3rd quarter worth about $311,000. Bank of New York Mellon Corp boosted its holdings in shares of Tyra Biosciences by 32.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 58,087 shares of the company's stock worth $929,000 after buying an additional 14,352 shares during the period. Finally, HighVista Strategies LLC bought a new stake in shares of Tyra Biosciences during the 2nd quarter worth about $257,000. 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.