Tyra Biosciences (NASDAQ:TYRA) Shares Gap Up Following Earnings Beat

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report) gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $9.66, but opened at $10.50. Tyra Biosciences shares last traded at $9.93, with a volume of 29,153 shares.

The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.05.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TYRA. UBS Group assumed coverage on shares of Tyra Biosciences in a research report on Tuesday, January 7th. They set a "buy" rating and a $28.00 target price on the stock. Wedbush restated an "outperform" rating and issued a $30.00 price target on shares of Tyra Biosciences in a report on Friday. Finally, HC Wainwright reaffirmed a "buy" rating and set a $30.00 price objective on shares of Tyra Biosciences in a report on Monday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $30.83.

Insider Buying and Selling

In other Tyra Biosciences news, Director Nina S. Kjellson sold 3,993 shares of the firm's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $16.36, for a total transaction of $65,325.48. Following the completion of the transaction, the director now owns 3,707,420 shares of the company's stock, valued at approximately $60,653,391.20. This trade represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold 21,998 shares of company stock worth $344,818 in the last ninety days. Insiders own 15.40% of the company's stock.

Remove Ads

Institutional Trading of Tyra Biosciences

Large investors have recently made changes to their positions in the stock. KLP Kapitalforvaltning AS acquired a new position in Tyra Biosciences in the 4th quarter valued at about $31,000. US Bancorp DE purchased a new stake in shares of Tyra Biosciences during the fourth quarter worth about $50,000. BNP Paribas Financial Markets acquired a new position in shares of Tyra Biosciences in the fourth quarter valued at approximately $60,000. Aquatic Capital Management LLC purchased a new position in shares of Tyra Biosciences during the fourth quarter valued at approximately $64,000. Finally, Wells Fargo & Company MN boosted its position in Tyra Biosciences by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 9,493 shares of the company's stock worth $132,000 after acquiring an additional 3,236 shares during the last quarter. Institutional investors and hedge funds own 84.14% of the company's stock.

Tyra Biosciences Trading Down 6.2 %

The company's 50 day simple moving average is $12.32 and its 200 day simple moving average is $16.22. The stock has a market capitalization of $441.26 million, a PE ratio of -5.42 and a beta of 1.09.

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.