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

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report)'s stock price gapped up before the market opened on Monday . The stock had previously closed at $10.55, but opened at $11.44. Tyra Biosciences shares last traded at $10.89, with a volume of 87,825 shares changing hands.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wedbush reaffirmed an "outperform" rating and set a $30.00 price objective on shares of Tyra Biosciences in a research report on Friday, March 28th. HC Wainwright reiterated a "buy" rating and issued a $30.00 price target on shares of Tyra Biosciences in a research report on Monday, March 31st. Finally, Piper Sandler assumed coverage on shares of Tyra Biosciences in a report on Wednesday, May 21st. They issued an "overweight" rating and a $33.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $30.83.

Tyra Biosciences Price Performance

The firm has a 50-day simple moving average of $9.31 and a 200 day simple moving average of $12.12. The firm has a market cap of $542.05 million, a PE ratio of -6.39 and a beta of 1.07.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.02. Sell-side analysts forecast that Tyra Biosciences, Inc. will post -1.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tyra Biosciences

Institutional investors have recently made changes to their positions in the company. Rhumbline Advisers boosted its position in shares of Tyra Biosciences by 7.2% during the 1st quarter. Rhumbline Advisers now owns 28,081 shares of the company's stock valued at $261,000 after acquiring an additional 1,879 shares during the last quarter. Jane Street Group LLC purchased a new position in Tyra Biosciences in the first quarter valued at approximately $324,000. Woodline Partners LP acquired a new stake in Tyra Biosciences during the 1st quarter worth $931,000. Goldman Sachs Group Inc. grew its position in Tyra Biosciences by 21.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 78,006 shares of the company's stock worth $725,000 after purchasing an additional 13,896 shares during the last quarter. Finally, Polar Asset Management Partners Inc. boosted its holdings in shares of Tyra Biosciences by 27.1% in the first quarter. Polar Asset Management Partners Inc. now owns 141,241 shares of the company's stock valued at $1,314,000 after acquiring an additional 30,134 shares in 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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