Tyra Biosciences (NASDAQ:TYRA) Trading Up 5.7% - What's Next?

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report) shares rose 5.7% during mid-day trading on Wednesday . The stock traded as high as $10.74 and last traded at $10.71. Approximately 33,509 shares changed hands during trading, a decline of 90% from the average daily volume of 321,444 shares. The stock had previously closed at $10.13.

Analysts Set New Price Targets

TYRA has been the subject of several research reports. Piper Sandler initiated coverage on shares of Tyra Biosciences in a research note on Wednesday, May 21st. They set an "overweight" rating and a $33.00 price objective for the company. Wedbush reiterated an "outperform" rating and set a $30.00 price objective on shares of Tyra Biosciences in a research note on Friday, March 28th. Finally, HC Wainwright reiterated a "buy" rating and set a $30.00 price objective on shares of Tyra Biosciences in a research note on Tuesday, July 1st. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $30.83.

Tyra Biosciences Stock Down 3.6%

The firm has a market capitalization of $555.59 million, a PE ratio of -6.43 and a beta of 1.07. The firm's 50 day moving average price is $9.89 and its two-hundred day moving average price is $11.13.

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. On average, sell-side analysts anticipate 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 30,000 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $10.31, for a total value of $309,300.00. Following the completion of the transaction, the director directly owned 59,623 shares in the company, valued at approximately $614,713.13. This represents a 33.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 61,392 shares of company stock valued at $628,358 in the last ninety days. 15.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Tyra Biosciences

Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its holdings in shares of Tyra Biosciences by 5.2% during the fourth quarter. Bank of New York Mellon Corp now owns 45,007 shares of the company's stock worth $626,000 after purchasing an additional 2,221 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Tyra Biosciences by 88.3% during the fourth quarter. Victory Capital Management Inc. now owns 56,640 shares of the company's stock worth $787,000 after purchasing an additional 26,560 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Tyra Biosciences during the fourth quarter worth $761,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Tyra Biosciences during the fourth quarter worth $31,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Tyra Biosciences during the fourth quarter worth $253,000. 84.14% of the stock is 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.