Tyra Biosciences (NASDAQ:TYRA) Shares Gap Up - Time to Buy?

Key Points

• Tyra Biosciences shares jumped 15.3%, opening at $23.20 versus a prior close of $22.03 and later trading near $24.56.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $47.88, despite HC Wainwright lowering its target to $30.
• The company reported a quarterly loss of $0.69 per share, missing estimates by $0.04, while institutional investors own approximately 84.14% of its stock.

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report)'s share price gapped up before the market opened on Monday . The stock had previously closed at $22.03, but opened at $23.20. Tyra Biosciences shares last traded at $24.5590, with a volume of 129,442 shares.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TYRA. HC Wainwright cut their price target on shares of Tyra Biosciences from $45.00 to $30.00 and set a "buy" rating for the company in a report on Thursday. Jefferies Financial Group reaffirmed a "buy" rating and set a $42.00 price objective on shares of Tyra Biosciences in a research note on Wednesday, August 5th. Wolfe Research began coverage on shares of Tyra Biosciences in a report on Tuesday, May 19th. They set a "peer perform" rating for the company. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Tyra Biosciences in a report on Thursday. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Tyra Biosciences in a report on Friday, July 17th. Eleven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $47.88.

Tyra Biosciences Stock Up 15.3%

The business has a fifty day moving average of $28.39 and a 200 day moving average of $31.83. The firm has a market cap of $1.52 billion, a P/E ratio of -10.54 and a beta of 0.73.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.65) by ($0.04). On average, sell-side analysts expect that Tyra Biosciences, Inc. will post -2.74 EPS for the current fiscal year.

Institutional Trading of Tyra Biosciences

A number of large investors have recently made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in shares of Tyra Biosciences by 2.0% in the fourth quarter. AQR Capital Management LLC now owns 28,631 shares of the company's stock valued at $753,000 after purchasing an additional 562 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of Tyra Biosciences by 5.0% during the fourth quarter. MetLife Investment Management LLC now owns 15,356 shares of the company's stock worth $404,000 after buying an additional 725 shares in the last quarter. Virtus Investment Advisers LLC raised its position in Tyra Biosciences by 6.7% in the 4th quarter. Virtus Investment Advisers LLC now owns 11,756 shares of the company's stock valued at $309,000 after buying an additional 741 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new stake in Tyra Biosciences in the 1st quarter valued at approximately $30,000. Finally, Deutsche Bank AG lifted its stake in Tyra Biosciences by 5.8% in the 4th quarter. Deutsche Bank AG now owns 16,377 shares of the company's stock valued at $431,000 after acquiring an additional 894 shares in the last quarter. Institutional investors own 84.14% of the company's stock.

About Tyra Biosciences

Tyra Biosciences, Inc is a clinical-stage biotechnology company focused on developing precision medicines for diseases with limited treatment options. The company uses its proprietary SNÅP platform to design small-molecule therapies intended to selectively target disease-driving genetic alterations while addressing resistance mechanisms that can reduce the effectiveness of existing treatments.

Tyra's lead programs are directed at fibroblast growth factor receptor (FGFR) biology. TYRA-300 is an oral, selective FGFR3 inhibitor being developed for conditions including FGFR3-altered urothelial cancer and achondroplasia, a genetic skeletal disorder.

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