Tyra Biosciences (NASDAQ:TYRA) Shares Gap Up After Insider Buying Activity

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report)'s share price gapped up prior to trading on Monday following insider buying activity. The stock had previously closed at $16.39, but opened at $17.08. Tyra Biosciences shares last traded at $16.43, with a volume of 25,422 shares traded.

Specifically, CFO Alan Fuhrman acquired 9,500 shares of the business's stock in a transaction that occurred on Wednesday, October 30th. The shares were 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 directly owns 12,849 shares in the company, valued at $205,584. This trade represents a 200.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TYRA. HC Wainwright lifted their price target on Tyra Biosciences from $30.00 to $32.00 and gave the company a "buy" rating in a report on Monday, October 28th. Piper Sandler assumed coverage on Tyra Biosciences in a report on Thursday, August 15th. They set an "overweight" rating and a $33.00 price target on the stock. Wedbush reaffirmed an "outperform" rating and issued a $28.00 price objective on shares of Tyra Biosciences in a report on Friday, October 25th. Bank of America upgraded shares of Tyra Biosciences from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $22.00 to $31.00 in a research report on Friday, October 18th. Finally, Oppenheimer increased their price objective on shares of Tyra Biosciences from $25.00 to $33.00 and gave the company an "outperform" rating in a report on Thursday, September 19th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Tyra Biosciences has an average rating of "Buy" and an average target price of $31.40.

Tyra Biosciences Trading Up 0.2 %

The firm has a market capitalization of $867.07 million, a P/E ratio of -9.72 and a beta of 1.08. The business's fifty day moving average is $22.39 and its 200 day moving average is $19.96.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last announced 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. As a group, sell-side analysts predict that Tyra Biosciences, Inc. will post -1.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tyra Biosciences

Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Tyra Biosciences in the third quarter worth approximately $311,000. HighVista Strategies LLC acquired a new stake in shares of Tyra Biosciences during the 2nd quarter valued at $257,000. Rhumbline Advisers grew 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 valued at $377,000 after acquiring an additional 2,574 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Tyra Biosciences by 32.8% during the second quarter. Bank of New York Mellon Corp now owns 58,087 shares of the company's stock worth $929,000 after acquiring an additional 14,352 shares in the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new position in Tyra Biosciences in the first quarter valued at about $977,000. 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.