Tyra Biosciences (NASDAQ:TYRA) Releases Earnings Results, Beats Estimates By $0.06 EPS

Key Points

• Tyra Biosciences reported earnings of ($0.47) EPS for the quarter, surpassing analyst expectations of ($0.53) by $0.06.
• The company's stock is currently trading at $10.70, down 0.5% from the previous day, with a market cap of $568.06 million.
• Tyra Biosciences has received positive ratings from analysts, holding an average rating of "Buy" and a consensus price target of $30.83.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) posted its quarterly earnings data on Thursday. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.53) by $0.06, Zacks reports.

Tyra Biosciences Stock Down 0.5%

Tyra Biosciences stock traded down $0.05 during mid-day trading on Thursday, reaching $10.70. 83,871 shares of the company's stock traded hands, compared to its average volume of 304,939. The company has a market cap of $568.06 million, a price-to-earnings ratio of -6.56 and a beta of 1.08. The stock has a 50 day moving average of $10.31 and a two-hundred day moving average of $10.49. Tyra Biosciences has a 12-month low of $6.42 and a 12-month high of $29.60.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Piper Sandler assumed coverage on shares of Tyra Biosciences in a research note on Wednesday, May 21st. They issued an "overweight" rating and a $33.00 price objective for the company. HC Wainwright reaffirmed a "buy" rating and issued a $30.00 price objective on shares of Tyra Biosciences in a research note on Tuesday, July 1st. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Tyra Biosciences presently has an average rating of "Buy" and a consensus price target of $30.83.

Insider Transactions at Tyra Biosciences

In other Tyra Biosciences news, Director Gilla Kaplan sold 9,568 shares of the business's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $9.78, for a total transaction of $93,575.04. Following the transaction, the director owned 28,231 shares in the company, valued at $276,099.18. The trade was a 25.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 61,392 shares of company stock worth $628,358 over the last quarter. 15.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tyra Biosciences

Institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. boosted its stake in Tyra Biosciences by 16.3% during the 2nd quarter. Raymond James Financial Inc. now owns 63,187 shares of the company's stock worth $605,000 after purchasing an additional 8,843 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Tyra Biosciences by 14.5% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,182 shares of the company's stock worth $126,000 after purchasing an additional 1,668 shares during the last quarter. Jump Financial LLC boosted its stake in Tyra Biosciences by 154.5% during the 2nd quarter. Jump Financial LLC now owns 71,119 shares of the company's stock worth $681,000 after purchasing an additional 43,170 shares during the last quarter. Marshall Wace LLP boosted its stake in Tyra Biosciences by 12.5% during the 2nd quarter. Marshall Wace LLP now owns 428,108 shares of the company's stock worth $4,097,000 after purchasing an additional 47,408 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Tyra Biosciences by 23.1% during the 2nd quarter. American Century Companies Inc. now owns 28,854 shares of the company's stock worth $276,000 after purchasing an additional 5,423 shares during the last quarter. 84.14% of the stock is owned by hedge funds and other institutional investors.

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.

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