Tyra Biosciences (NASDAQ:TYRA) Trading 9.8% Higher - Should You Buy?

Key Points

• Shares of Tyra Biosciences jumped 9.8% to about $37.98 on Tuesday, but the move occurred on thin volume (~40,216 shares, down ~96% from average), suggesting limited trading participation.
• Analyst sentiment is largely positive (one Strong Buy, eight Buy, one Sell) giving a MarketBeat consensus of “Moderate Buy” and a consensus target of $44.67, with several firms recently raising price targets (e.g., Wedbush to $53, HC Wainwright to $45).
• The company has a market cap of ~$2.04B and reported a Q (EPS) loss of -$0.57 (missing estimates); Director Gilla Kaplan sold 14,295 shares, and insiders own ~15.2% of the stock.

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report) were up 9.8% on Tuesday . The stock traded as high as $36.94 and last traded at $37.9760. Approximately 40,216 shares were traded during trading, a decline of 96% from the average daily volume of 939,659 shares. The stock had previously closed at $34.60.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Barclays assumed coverage on shares of Tyra Biosciences in a research report on Tuesday, January 27th. They issued an "overweight" rating on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Tyra Biosciences in a report on Wednesday, January 21st. HC Wainwright upped their price target on shares of Tyra Biosciences from $30.00 to $45.00 and gave the company a "buy" rating in a research report on Tuesday, February 17th. Jefferies Financial Group lifted their price objective on Tyra Biosciences from $32.00 to $43.00 and gave the stock a "buy" rating in a research report on Tuesday, February 3rd. Finally, Wedbush boosted their price objective on Tyra Biosciences from $37.00 to $53.00 and gave the company an "outperform" rating in a research note on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $44.67.

Tyra Biosciences Stock Performance

The firm's 50 day moving average price is $33.01 and its two-hundred day moving average price is $24.01. The company has a market cap of $2.04 billion, a P/E ratio of -18.89 and a beta of 1.06.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last issued its earnings results on Monday, March 2nd. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.03). As a group, analysts forecast that Tyra Biosciences, Inc. will post -1.57 EPS for the current fiscal year.

Insider Activity at Tyra Biosciences

In other news, Director Gilla Kaplan sold 14,295 shares of the firm's stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $36.97, for a total value of $528,486.15. Following the completion of the sale, the director directly owned 28,231 shares in the company, valued at $1,043,700.07. This trade represents a 33.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 15.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tyra Biosciences

A number of hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Tyra Biosciences during the fourth quarter valued at approximately $79,000. Seven Fleet Capital Management LP bought a new position in shares of Tyra Biosciences in the 4th quarter worth $2,092,000. Invesco Ltd. grew its position in Tyra Biosciences by 734.5% in the 4th quarter. Invesco Ltd. now owns 129,435 shares of the company's stock valued at $3,403,000 after purchasing an additional 113,925 shares during the period. VARCOV Co. bought a new stake in Tyra Biosciences during the 4th quarter valued at $255,000. Finally, Virtus Investment Advisers LLC raised its holdings in Tyra Biosciences by 6.7% during the fourth quarter. Virtus Investment Advisers LLC now owns 11,756 shares of the company's stock worth $309,000 after buying an additional 741 shares during the last quarter. Institutional investors and hedge funds own 84.14% of the company's stock.

Tyra Biosciences Company Profile

Tyra Biosciences NASDAQ: TYRA is a clinical-stage precision oncology company focused on the discovery and development of small-molecule therapies for genetically defined cancers. The company integrates bioinformatics, molecular biology and medicinal chemistry to identify oncogenic drivers and design targeted inhibitors. By leveraging large-scale genomic datasets and functional screening, Tyra Biosciences aims to advance therapies that address patient populations with high unmet medical need.

The company's pipeline includes multiple programs at various stages of development, each directed against distinct molecular vulnerabilities in cancer cells.

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