Tyra Biosciences (NASDAQ:TYRA) Stock Price Up 5.6% - Here's What Happened

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report) shares shot up 5.6% on Monday . The company traded as high as $9.76 and last traded at $9.75. 170,614 shares changed hands 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

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

Tyra Biosciences Stock Up 4.9%

The stock has a market cap of $513.96 million, a PE ratio of -5.94 and a beta of 1.07. The stock has a fifty day moving average of $9.76 and a 200-day moving average of $11.72.

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

Insider Buying and Selling at Tyra Biosciences

In other news, Director Gilla Kaplan sold 15,000 shares of Tyra Biosciences stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $10.31, for a total transaction of $154,650.00. Following the completion of the sale, the director now directly owns 44,623 shares in the company, valued at approximately $460,063.13. This trade represents a 25.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 61,392 shares of company stock valued at $628,358. 15.20% of the stock is owned by company insiders.

Institutional Trading of Tyra Biosciences

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

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.

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