Tyra Biosciences (NASDAQ:TYRA) Stock Price Up 6.6% - Here's What Happened

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report)'s stock price shot up 6.6% during trading on Friday . The stock traded as high as $13.08 and last traded at $13.06. 99,123 shares traded hands during trading, a decline of 63% from the average session volume of 267,281 shares. The stock had previously closed at $12.25.

Wall Street Analyst Weigh In

Several analysts have issued reports on TYRA shares. UBS Group began coverage on shares of Tyra Biosciences in a research report on Tuesday, January 7th. They issued a "buy" rating and a $28.00 price target on the stock. Wedbush reaffirmed an "outperform" rating and issued a $28.00 price target on shares of Tyra Biosciences in a report on Friday, October 25th. Finally, HC Wainwright reissued a "buy" rating and set a $30.00 price objective on shares of Tyra Biosciences in a report on Tuesday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $30.50.

Tyra Biosciences Trading Down 1.6 %

The stock has a fifty day moving average of $14.69 and a two-hundred day moving average of $18.36. The stock has a market capitalization of $657.04 million, a price-to-earnings ratio of -8.11 and a beta of 1.05.

Insider Transactions at Tyra Biosciences

In related news, Director Nina S. Kjellson sold 5,401 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $13.76, for a total value of $74,317.76. Following the transaction, the director now directly owns 443,885 shares in the company, valued at $6,107,857.60. This represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 21,998 shares of company stock worth $344,818. Corporate insiders own 15.40% of the company's stock.

Institutional Investors Weigh In On Tyra Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alta Partners Management Company L.P. bought a new position in Tyra Biosciences during the 4th quarter worth approximately $56,716,000. Boxer Capital Management LLC bought a new stake in Tyra Biosciences in the 4th quarter valued at $28,185,000. Janus Henderson Group PLC acquired a new position in Tyra Biosciences in the 3rd quarter worth $24,994,000. Farallon Capital Management LLC bought a new position in Tyra Biosciences during the 4th quarter worth about $13,914,000. Finally, Vestal Point Capital LP acquired a new stake in shares of Tyra Biosciences in the 4th quarter valued at about $13,761,000. Institutional investors own 84.14% of the company's stock.

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.