Tyra Biosciences (NASDAQ:TYRA) Trading Up 5.6% - Still a Buy?

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report) traded up 5.6% on Monday . The stock traded as high as $9.76 and last traded at $9.75. 170,614 shares were traded during mid-day trading, a decline of 39% from the average session volume of 280,988 shares. The stock had previously closed at $9.23.

Analysts Set New Price Targets

TYRA has been the topic of several analyst reports. Wedbush reiterated an "outperform" rating and issued a $30.00 target price on shares of Tyra Biosciences in a report on Friday, March 28th. HC Wainwright reiterated a "buy" rating and issued a $30.00 target price on shares of Tyra Biosciences in a report on Monday, March 31st. Finally, Piper Sandler initiated coverage on shares of Tyra Biosciences in a report on Wednesday, May 21st. They issued an "overweight" rating and a $33.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Tyra Biosciences has a consensus rating of "Buy" and an average price target of $30.83.

Tyra Biosciences Stock Up 2.1%

The company's fifty day simple moving average is $9.85 and its two-hundred day simple moving average is $11.61. The company has a market capitalization of $521.87 million, a price-to-earnings ratio of -6.03 and a beta of 1.07.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.47) EPS for the quarter, topping analysts' consensus estimates of ($0.49) by $0.02. Equities research analysts expect that Tyra Biosciences, Inc. will post -1.57 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Gilla Kaplan sold 6,814 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $10.38, for a total transaction of $70,729.32. Following the sale, the director now directly owns 37,809 shares in the company, valued at $392,457.42. This trade represents a 15.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 61,392 shares of company stock worth $628,358 over the last ninety days. Company insiders own 15.20% of the company's stock.

Institutional Investors Weigh In On Tyra Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers raised its holdings in shares of Tyra Biosciences by 4.1% during the fourth quarter. Rhumbline Advisers now owns 26,202 shares of the company's stock worth $364,000 after acquiring an additional 1,027 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of Tyra Biosciences during the fourth quarter worth $60,000. RA Capital Management L.P. raised its holdings in shares of Tyra Biosciences by 2.1% during the fourth quarter. RA Capital Management L.P. now owns 10,637,290 shares of the company's stock worth $147,858,000 after acquiring an additional 220,681 shares during the period. Two Sigma Advisers LP acquired a new stake in shares of Tyra Biosciences during the fourth quarter worth $171,000. Finally, Deutsche Bank AG grew its position in Tyra Biosciences by 52.0% in the fourth quarter. Deutsche Bank AG now owns 18,909 shares of the company's stock valued at $263,000 after purchasing an additional 6,466 shares in the last quarter. 84.14% of the stock is currently owned by institutional investors and hedge funds.

About Tyra Biosciences

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.