Tyra Biosciences (NASDAQ:TYRA) Trading 6.1% Higher - Here's What Happened

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report) shares traded up 6.1% on Thursday . The stock traded as high as $9.50 and last traded at $9.54. 38,542 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 264,072 shares. The stock had previously closed at $8.99.

Wall Street Analysts Forecast Growth

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

Tyra Biosciences Price Performance

The stock has a market cap of $491.08 million, a price-to-earnings ratio of -5.75 and a beta of 1.17. The company has a 50 day simple moving average of $9.26 and a 200 day simple moving average of $12.37.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last released 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. As a group, analysts predict that Tyra Biosciences, Inc. will post -1.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tyra Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. KLP Kapitalforvaltning AS bought a new position in shares of Tyra Biosciences during the 4th quarter worth $31,000. US Bancorp DE bought a new position in Tyra Biosciences in the 4th quarter worth about $50,000. BNP Paribas Financial Markets bought a new position in Tyra Biosciences in the 4th quarter worth about $60,000. Aquatic Capital Management LLC bought a new position in Tyra Biosciences in the 4th quarter worth about $64,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Tyra Biosciences in the 1st quarter worth about $84,000. 84.14% of the stock is 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.