Tyra Biosciences (NASDAQ:TYRA) Hits New 12-Month High – Here’s What Happened

Tyra Biosciences, Inc. (NASDAQ:TYRA)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $28.99 and last traded at $28.90, with a volume of 116088 shares trading hands. The stock had previously closed at $28.16.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TYRA shares. Wedbush reissued an “outperform” rating and issued a $28.00 target price on shares of Tyra Biosciences in a research report on Friday. HC Wainwright boosted their target price on Tyra Biosciences from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Bank of America raised Tyra Biosciences from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $22.00 to $31.00 in a research note on Friday, October 18th. Piper Sandler initiated coverage on Tyra Biosciences in a research note on Thursday, August 15th. They set an “overweight” rating and a $33.00 target price for the company. Finally, Oppenheimer boosted their target price on Tyra Biosciences from $25.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $31.00.

Tyra Biosciences Stock Down 23.3 %

The company has a 50 day moving average price of $22.88 and a 200-day moving average price of $19.79. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -13.89 and a beta of 1.01.

Tyra Biosciences (NASDAQ:TYRA) last released its quarterly earnings data 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. On average, analysts forecast that Tyra Biosciences, Inc. will post -1.53 EPS for the current fiscal year.

Insider Activity

In other Tyra Biosciences news, CEO Todd Harris sold 10,092 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $24.13, for a total transaction of $243,519.96. Following the completion of the sale, the chief executive officer now owns 1,479,528 shares of the company’s stock, valued at approximately $35,701,010.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 61,403 shares of company stock valued at $1,582,774 over the last quarter. 15.40% of the stock is owned by company insiders.

Institutional Trading of Tyra Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in Tyra Biosciences during the 3rd quarter valued at approximately $311,000. HighVista Strategies LLC bought a new position in shares of Tyra Biosciences during the 2nd quarter worth approximately $257,000. Rhumbline Advisers boosted 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 worth $377,000 after buying an additional 2,574 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Tyra Biosciences by 32.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 58,087 shares of the company’s stock worth $929,000 after buying an additional 14,352 shares in the last quarter. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Tyra Biosciences during the 1st quarter worth approximately $977,000. Institutional investors and hedge funds 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.