Tyra Biosciences (NASDAQ:TYRA) Sees Strong Trading Volume on Analyst Upgrade

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report) saw an uptick in trading volume on Monday after HC Wainwright raised their price target on the stock from $30.00 to $32.00. HC Wainwright currently has a buy rating on the stock. 120,491 shares traded hands during trading, a decline of 27% from the previous session's volume of 165,546 shares.The stock last traded at $21.06 and had previously closed at $21.93.

A number of other research firms have also recently issued reports on TYRA. Wedbush reissued an "outperform" rating and issued a $28.00 target price on shares of Tyra Biosciences in a research note on Friday. Piper Sandler started coverage on Tyra Biosciences in a research report on Thursday, August 15th. They set an "overweight" rating and a $33.00 price objective for the company. Oppenheimer upped their price objective on Tyra Biosciences from $25.00 to $33.00 and gave the stock an "outperform" rating in a research report on Thursday, September 19th. Finally, Bank of America raised Tyra Biosciences from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $22.00 to $31.00 in a research report on Friday, October 18th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $31.40.

Insider Buying and Selling at Tyra Biosciences

In other news, CEO Todd Harris sold 19,084 shares of the company's stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $27.90, for a total value of $532,443.60. Following 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 61,403 shares of company stock worth $1,582,774 over the last 90 days. Company insiders own 15.40% of the company's stock.

Institutional Investors Weigh In On Tyra Biosciences

A number of large investors have recently added to or reduced their stakes in the stock. RA Capital Management L.P. grew its position 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 buying an additional 3,180,155 shares in the last quarter. BVF Inc. IL boosted its holdings in shares of Tyra Biosciences by 70.1% in the 1st quarter. BVF Inc. IL now owns 4,661,194 shares of the company's stock valued at $76,444,000 after purchasing an additional 1,921,599 shares in the last quarter. Perceptive Advisors LLC boosted its holdings in shares of Tyra Biosciences by 50.5% in the 2nd quarter. Perceptive Advisors LLC now owns 1,007,367 shares of the company's stock valued at $16,108,000 after purchasing an additional 338,208 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Tyra Biosciences by 18.6% in the 1st quarter. Vanguard Group Inc. now owns 899,800 shares of the company's stock valued at $14,757,000 after purchasing an additional 140,833 shares in the last quarter. Finally, Kynam Capital Management LP lifted its stake in shares of Tyra Biosciences by 51.4% in the 1st quarter. Kynam Capital Management LP now owns 515,190 shares of the company's stock valued at $8,449,000 after acquiring an additional 175,000 shares during the last quarter. Institutional investors and hedge funds own 84.14% of the company's stock.

Tyra Biosciences Price Performance

The firm has a 50-day simple moving average of $22.89 and a 200 day simple moving average of $19.87. The stock has a market capitalization of $1.05 billion, a P/E ratio of -11.77 and a beta of 1.01.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last released 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. Sell-side analysts anticipate that Tyra Biosciences, Inc. will post -1.53 earnings per share for the current fiscal year.

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.