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Tyra Biosciences (NASDAQ:TYRA) Shares Gap Up - Here's Why

Tyra Biosciences logo with Medical background

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report) shares gapped up prior to trading 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 traded.

Analysts Set New Price Targets

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

Read Our Latest Research Report on TYRA

Tyra Biosciences Price Performance

The firm has a market cap of $548.42 million, a price-to-earnings ratio of -6.42 and a beta of 1.07. The business has a 50-day moving average of $9.50 and a 200-day moving average of $12.02.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last released its quarterly earnings data 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. As a group, equities analysts anticipate that Tyra Biosciences, Inc. will post -1.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Tyra Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS bought a new position in shares of Tyra Biosciences during the fourth quarter worth approximately $31,000. US Bancorp DE bought a new stake in Tyra Biosciences during the fourth quarter worth $50,000. BNP Paribas Financial Markets bought a new stake in shares of Tyra Biosciences during the 4th quarter worth $60,000. Aquatic Capital Management LLC acquired a new stake in shares of Tyra Biosciences in the 4th quarter valued at approximately $64,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Tyra Biosciences in the first quarter valued at approximately $84,000. 84.14% of the stock is owned by institutional investors.

About Tyra Biosciences

(Get Free Report)

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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