Tyra Biosciences (NASDAQ:TYRA) Stock Price Up 6.2% - Still a Buy?

Key Points

• Tyra Biosciences shares rose 6.2% to $26.399, though trading volume was 98% below the stock’s average daily volume.
• Analyst sentiment remains broadly positive, with 12 Buy ratings, one Hold and one Sell; the consensus rating is “Moderate Buy” with an average price target of $48.22.
• Institutional ownership stands at 84.14%, with major investors including Jupiter Topco, BlackRock and Commodore Capital adding or initiating positions. The company nevertheless reported a quarterly EPS loss of $0.69, missing estimates by $0.04.

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report)'s share price shot up 6.2% on Friday . The stock traded as high as $25.23 and last traded at $26.3990. 21,389 shares changed hands during trading, a decline of 98% from the average daily volume of 860,577 shares. The stock had previously closed at $24.86.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TYRA shares. Jefferies Financial Group reaffirmed a "buy" rating and set a $42.00 price target on shares of Tyra Biosciences in a research report on Wednesday, August 5th. HC Wainwright restated a "buy" rating and issued a $45.00 price objective on shares of Tyra Biosciences in a research report on Thursday, May 14th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Tyra Biosciences in a research note on Friday, July 17th. Wolfe Research started coverage on shares of Tyra Biosciences in a report on Tuesday, May 19th. They set a "peer perform" rating for the company. Finally, Bank of America boosted their target price on shares of Tyra Biosciences from $37.00 to $42.00 and gave the company a "buy" rating in a research note on Wednesday, June 10th. Twelve investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Tyra Biosciences currently has an average rating of "Moderate Buy" and an average price target of $48.22.

Tyra Biosciences Stock Up 13.7%

The stock has a market capitalization of $1.69 billion, a PE ratio of -11.77 and a beta of 0.73. The company has a 50-day moving average of $29.09 and a 200 day moving average of $32.05.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.65) by ($0.04). As a group, equities analysts predict that Tyra Biosciences, Inc. will post -2.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TYRA. Jupiter Topco LLC acquired a new stake in Tyra Biosciences during the second quarter worth about $139,161,000. BlackRock Inc. acquired a new position in Tyra Biosciences in the 2nd quarter valued at about $96,841,000. Commodore Capital LP grew its stake in shares of Tyra Biosciences by 226.3% in the 2nd quarter. Commodore Capital LP now owns 3,100,000 shares of the company's stock valued at $29,667,000 after buying an additional 2,150,000 shares during the period. 5AM Venture Management LLC purchased a new stake in shares of Tyra Biosciences in the 2nd quarter valued at approximately $32,875,778. Finally, Janus Henderson Group PLC increased its holdings in shares of Tyra Biosciences by 32.5% during the 1st quarter. Janus Henderson Group PLC now owns 3,890,589 shares of the company's stock worth $148,867,000 after buying an additional 955,147 shares during the last quarter. Institutional investors and hedge funds own 84.14% of the company's stock.

About Tyra Biosciences

Tyra Biosciences NASDAQ: TYRA is a clinical-stage precision oncology company focused on the discovery and development of small-molecule therapies for genetically defined cancers. The company integrates bioinformatics, molecular biology and medicinal chemistry to identify oncogenic drivers and design targeted inhibitors. By leveraging large-scale genomic datasets and functional screening, Tyra Biosciences aims to advance therapies that address patient populations with high unmet medical need.

The company's pipeline includes multiple programs at various stages of development, each directed against distinct molecular vulnerabilities in cancer cells.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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