Tyra Biosciences (NASDAQ:TYRA) Trading 7.9% Higher - Here's What Happened

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report) shares traded up 7.9% on Tuesday . The company traded as high as $16.30 and last traded at $16.30. 338,830 shares traded hands during trading, an increase of 18% from the average session volume of 286,302 shares. The stock had previously closed at $15.10.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Wedbush reaffirmed an "outperform" rating and set a $28.00 price target on shares of Tyra Biosciences in a research report on Friday, October 25th. Oppenheimer upped their target price on Tyra Biosciences from $25.00 to $33.00 and gave the company an "outperform" rating in a research report on Thursday, September 19th. UBS Group initiated coverage on shares of Tyra Biosciences in a research report on Tuesday, January 7th. They set a "buy" rating and a $28.00 price target for the company. HC Wainwright restated a "buy" rating and set a $30.00 price objective on shares of Tyra Biosciences in a research note on Monday. Finally, Bank of America upgraded shares of Tyra Biosciences from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $22.00 to $31.00 in a research note on Friday, October 18th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $30.50.

Tyra Biosciences Stock Up 5.6 %

The firm has a 50-day moving average price of $15.42 and a two-hundred day moving average price of $19.22. The firm has a market cap of $806.61 million, a PE ratio of -9.90 and a beta of 1.04.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.01). Research analysts forecast that Tyra Biosciences, Inc. will post -1.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Alan Fuhrman purchased 9,500 shares of the business's stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average price of $16.00 per share, for a total transaction of $152,000.00. Following the acquisition, the chief financial officer now directly owns 12,849 shares of the company's stock, valued at approximately $205,584. This represents a 283.67 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nina S. Kjellson sold 11,078 shares of the company's stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $16.17, for a total value of $179,131.26. Following the completion of the transaction, the director now owns 472,207 shares in the company, valued at $7,635,587.19. This represents a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,125 shares of company stock valued at $1,583,097. Insiders own 15.40% of the company's stock.

Hedge Funds Weigh In On Tyra Biosciences

Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. grew its stake in shares of Tyra Biosciences by 1.1% in the third quarter. JPMorgan Chase & Co. now owns 368,647 shares of the company's stock valued at $8,667,000 after buying an additional 3,896 shares in the last quarter. Franklin Resources Inc. purchased a new position in Tyra Biosciences during the 3rd quarter valued at about $278,000. Barclays PLC grew its position in Tyra Biosciences by 200.5% in the 3rd quarter. Barclays PLC now owns 37,625 shares of the company's stock valued at $884,000 after acquiring an additional 25,106 shares in the last quarter. State Street Corp increased its stake in Tyra Biosciences by 4.4% during the third quarter. State Street Corp now owns 384,732 shares of the company's stock worth $9,045,000 after purchasing an additional 16,248 shares during the period. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of Tyra Biosciences during the third quarter worth about $2,071,000. 84.14% of the stock is currently owned by hedge funds and other institutional investors.

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.