Tyra Biosciences (NASDAQ:TYRA) Stock Price Up 6.2% – Time to Buy?

Tyra Biosciences, Inc. (NASDAQ:TYRA)’s share price was up 6.2% during mid-day trading on Monday . The stock traded as high as $26.70 and last traded at $26.85. 256,793 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 903,935 shares. The stock had previously closed at $25.29.

Analysts Set New Price Targets

A number of research firms have recently commented on TYRA. Jefferies Financial Group reiterated a “buy” rating and set a $42.00 price target on shares of Tyra Biosciences in a report on Wednesday, August 5th. HC Wainwright restated a “buy” rating and issued a $45.00 price objective on shares of Tyra Biosciences in a report on Thursday, May 14th. Bank of America upped their price objective on Tyra Biosciences from $37.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tyra Biosciences in a research note on Friday, July 17th. Finally, Wolfe Research initiated coverage on Tyra Biosciences in a report on Tuesday, May 19th. They issued a “peer perform” rating for the company. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $46.90.

Tyra Biosciences Stock Up 3.2%

The company has a market cap of $1.56 billion, a PE ratio of -10.88 and a beta of 0.77. The company’s fifty day moving average is $29.75 and its 200-day moving average is $32.52.

Tyra Biosciences (NASDAQ:TYRA) last announced its earnings results on Tuesday, August 4th. The company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.04). Equities research analysts expect that Tyra Biosciences, Inc. will post -2.74 EPS for the current fiscal year.

Institutional Trading of Tyra Biosciences

A number of hedge funds have recently bought and sold shares of the company. Walleye Capital LLC purchased a new stake in Tyra Biosciences during the second quarter valued at approximately $11,112,000. Jennison Associates LLC bought a new position in Tyra Biosciences in the first quarter worth approximately $24,222,000. 5AM Venture Management LLC boosted its stake in shares of Tyra Biosciences by 9.6% during the 4th quarter. 5AM Venture Management LLC now owns 1,029,298 shares of the company’s stock worth $27,060,000 after acquiring an additional 90,000 shares during the last quarter. Seven Fleet Capital Management LP purchased a new position in shares of Tyra Biosciences during the 4th quarter worth $2,092,000. Finally, Fisher Asset Management LLC bought a new stake in shares of Tyra Biosciences during the 4th quarter valued at $757,000. 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.