Tyra Biosciences (NASDAQ:TYRA) Stock Price Up 5% – Here’s Why

Tyra Biosciences, Inc. (NASDAQ:TYRA)’s share price rose 5% during mid-day trading on Friday . The company traded as high as $33.12 and last traded at $33.18. Approximately 130,578 shares traded hands during trading, a decline of 86% from the average session volume of 942,716 shares. The stock had previously closed at $31.61.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Tyra Biosciences in a report on Monday, April 20th. Canaccord Genuity Group initiated coverage on shares of Tyra Biosciences in a research report on Monday, April 6th. They set a “buy” rating and a $50.00 price objective on the stock. Guggenheim began coverage on Tyra Biosciences in a research note on Tuesday, April 14th. They issued a “buy” rating and a $54.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and issued a $45.00 target price on shares of Tyra Biosciences in a research report on Thursday, May 14th. Finally, Bank of America increased their target price on Tyra Biosciences from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $47.00.

Tyra Biosciences Trading Up 3.9%

The stock has a market capitalization of $1.95 billion, a PE ratio of -15.02 and a beta of 0.76. The stock’s fifty day simple moving average is $31.20 and its 200-day simple moving average is $32.39.

Tyra Biosciences (NASDAQ:TYRA) last announced its earnings results on Wednesday, May 13th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.04). As a group, analysts anticipate that Tyra Biosciences, Inc. will post -2.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tyra Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hilton Head Capital Partners LLC purchased a new position in shares of Tyra Biosciences in the 1st quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd bought a new stake in Tyra Biosciences during the fourth quarter worth $51,000. Chung Wu Investment Group LLC purchased a new position in Tyra Biosciences in the fourth quarter worth $53,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Tyra Biosciences by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,594 shares of the company’s stock worth $68,000 after purchasing an additional 534 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Tyra Biosciences in the 1st quarter valued at $276,000. Hedge funds and other institutional investors 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.