Tyra Biosciences (NASDAQ:TYRA) Trading Up 7.2% - Time to Buy?

Key Points

• Tyra Biosciences (NASDAQ:TYRA) shares increased by 7.2%, reaching a last trading price of $14.93, although trading volume was 72% lower than average.
• Analysts maintain a generally positive outlook on the stock, with a consensus price target of $31.86 and various ratings from buy to sell based on recent reports.
• The company reported a net loss per share of ($0.47), exceeding analysts' expectations, indicating potential growth despite anticipated challenges in the current fiscal year.

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report) shares were up 7.2% during trading on Wednesday . The stock traded as high as $15.00 and last traded at $14.93. Approximately 79,726 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 282,887 shares. The stock had previously closed at $13.92.

Analysts Set New Price Targets

Several analysts have commented on TYRA shares. HC Wainwright reissued a "buy" rating and issued a $30.00 price objective on shares of Tyra Biosciences in a report on Friday, August 22nd. Wall Street Zen raised Tyra Biosciences from a "sell" rating to a "hold" rating in a report on Saturday, October 4th. Raymond James Financial initiated coverage on Tyra Biosciences in a report on Tuesday, September 2nd. They issued a "strong-buy" rating and a $35.00 price objective on the stock. Oppenheimer restated an "outperform" rating and issued a $36.00 target price on shares of Tyra Biosciences in a research report on Wednesday, September 10th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Tyra Biosciences in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $31.86.

Tyra Biosciences Stock Up 9.9%

The stock has a market cap of $815.23 million, a PE ratio of -8.59 and a beta of 1.11. The stock has a 50-day moving average of $12.31 and a 200 day moving average of $10.63.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.47) EPS for the quarter, topping analysts' consensus estimates of ($0.53) by $0.06. Research analysts forecast that Tyra Biosciences, Inc. will post -1.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Tyra Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HighVista Strategies LLC increased its stake in Tyra Biosciences by 4.3% during the second quarter. HighVista Strategies LLC now owns 24,962 shares of the company's stock worth $239,000 after acquiring an additional 1,021 shares during the last quarter. American Century Companies Inc. grew its stake in Tyra Biosciences by 5.8% during the 1st quarter. American Century Companies Inc. now owns 23,431 shares of the company's stock worth $218,000 after purchasing an additional 1,289 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Tyra Biosciences by 14.5% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,182 shares of the company's stock worth $126,000 after buying an additional 1,668 shares during the last quarter. US Bancorp DE lifted its holdings in Tyra Biosciences by 50.5% during the 1st quarter. US Bancorp DE now owns 5,435 shares of the company's stock worth $51,000 after buying an additional 1,823 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Tyra Biosciences by 7.2% in the 1st quarter. Rhumbline Advisers now owns 28,081 shares of the company's stock valued at $261,000 after purchasing an additional 1,879 shares during the last quarter. Institutional investors and hedge funds own 84.14% of the company's stock.

Tyra Biosciences Company Profile

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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