Tyra Biosciences (NASDAQ:TYRA) Stock Jumps 4.4% - Here's Why

Key Points

• Tyra Biosciences shares rose 4.4% to $19.34, with trading volume 11% above the average session level.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and an average price target of $47.20; individual targets range from $29 to $53.
• 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) shares traded up 4.4% during trading on Monday. The company traded as high as $19.49 and last traded at $19.34. 871,843 shares changed hands during trading, an increase of 11% from the average session volume of 788,526 shares. The stock had previously closed at $18.52.

Analysts Set New Price Targets

Several research analysts have weighed in on TYRA shares. Cantor Fitzgerald reiterated an "overweight" rating on shares of Tyra Biosciences in a research note on Thursday, September 10th. Wedbush reiterated an "outperform" rating and issued a $53.00 target price on shares of Tyra Biosciences in a research report on Thursday, September 10th. HC Wainwright decreased their target price on shares of Tyra Biosciences from $30.00 to $29.00 and set a "buy" rating for the company in a research note on Tuesday, September 22nd. Raymond James Financial restated a "strong-buy" rating and set a $50.00 price target on shares of Tyra Biosciences in a report on Tuesday, October 6th. Finally, Jefferies Financial Group restated a "buy" rating and set a $42.00 price target on shares of Tyra Biosciences in a report on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $47.20.

Tyra Biosciences Trading Up 4.4%

The business's fifty day moving average price is $23.58 and its two-hundred day moving average price is $29.28. The firm has a market cap of $1.15 billion, a P/E ratio of -8.06 and a beta of 0.75.

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). Research analysts predict that Tyra Biosciences, Inc. will post -2.68 EPS for the current fiscal year.

Institutional Trading of Tyra Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hilton Head Capital Partners LLC acquired a new position in shares of Tyra Biosciences during the first quarter worth approximately $30,000. Public Employees Retirement System of Ohio boosted its position in shares of Tyra Biosciences by 10.7% in the first quarter. Public Employees Retirement System of Ohio now owns 20,522 shares of the company's stock valued at $786,000 after acquiring an additional 1,980 shares during the period. State of Wyoming bought a new stake in shares of Tyra Biosciences in the second quarter valued at approximately $76,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Tyra Biosciences in the fourth quarter valued at approximately $79,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Tyra Biosciences in the second quarter worth $230,000. Institutional investors and hedge funds own 84.14% of the company's stock.

Tyra Biosciences Company Profile

Tyra Biosciences, Inc is a clinical-stage biotechnology company focused on developing precision medicines for cancers and other diseases driven by genetic alterations. The company uses its proprietary SNAP platform to design small-molecule therapies intended to selectively target clinically important mutations while addressing resistance mechanisms that can limit existing treatments.

Tyra's lead development program is TYRA-300, an orally administered, selective FGFR3 inhibitor being evaluated for the treatment of FGFR3-driven cancers, including urothelial carcinoma.

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