Tyra Biosciences (NASDAQ:TYRA) Shares Up 7.1% – Here’s What Happened

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) shot up 7.1% on Tuesday . The stock traded as high as $10.71 and last traded at $10.99. 22,690 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 273,751 shares. The stock had previously closed at $10.26.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TYRA. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Tyra Biosciences in a research report on Monday, March 31st. Piper Sandler started coverage on Tyra Biosciences in a report on Wednesday, May 21st. They set an “overweight” rating and a $33.00 price target on the stock. Finally, Wedbush reaffirmed an “outperform” rating and set a $30.00 price objective on shares of Tyra Biosciences in a research report on Friday, March 28th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Tyra Biosciences currently has an average rating of “Buy” and a consensus price target of $30.83.

Tyra Biosciences Stock Performance

The company has a market capitalization of $540.46 million, a price-to-earnings ratio of -6.32 and a beta of 1.07. The company has a 50 day moving average price of $9.44 and a 200 day moving average price of $12.06.

Tyra Biosciences (NASDAQ:TYRA) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.02. Research analysts forecast that Tyra Biosciences, Inc. will post -1.57 EPS for the current year.

Hedge Funds Weigh In On Tyra Biosciences

A number of large investors have recently modified their holdings of TYRA. Alta Partners Management Company L.P. bought a new stake in Tyra Biosciences during the 4th quarter valued at $56,716,000. Boxer Capital Management LLC acquired a new position in shares of Tyra Biosciences during the fourth quarter valued at about $28,185,000. Vestal Point Capital LP increased its position in shares of Tyra Biosciences by 190.9% during the first quarter. Vestal Point Capital LP now owns 2,879,829 shares of the company’s stock worth $26,782,000 after acquiring an additional 1,889,829 shares in the last quarter. Farallon Capital Management LLC acquired a new stake in shares of Tyra Biosciences in the 4th quarter worth about $13,914,000. Finally, Orbimed Advisors LLC raised its holdings in shares of Tyra Biosciences by 91.3% in the 4th quarter. Orbimed Advisors LLC now owns 1,470,086 shares of the company’s stock worth $20,434,000 after acquiring an additional 701,448 shares during the last quarter. 84.14% of the stock is currently owned by 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.