Tyra Biosciences (NASDAQ:TYRA) Shares Up 7.1% – Time to Buy?

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

Analyst Ratings Changes

TYRA has been the subject of a number of recent analyst reports. Wedbush reaffirmed an “outperform” rating and set a $30.00 price target on shares of Tyra Biosciences in a report on Friday, March 28th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Tyra Biosciences in a research report on Monday, March 31st. Finally, Piper Sandler initiated coverage on Tyra Biosciences in a report on Wednesday, May 21st. They issued an “overweight” rating and a $33.00 price target for the company. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $30.83.

Tyra Biosciences Stock Performance

The business’s 50 day moving average price is $9.35 and its 200-day moving average price is $12.08. The firm has a market cap of $562.17 million, a price-to-earnings ratio of -6.56 and a beta of 1.07.

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

Hedge Funds Weigh In On Tyra Biosciences

Hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its position in shares of Tyra Biosciences by 4.1% in the 4th quarter. Rhumbline Advisers now owns 26,202 shares of the company’s stock worth $364,000 after buying an additional 1,027 shares during the last quarter. Bank of New York Mellon Corp raised its stake in 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 acquiring an additional 2,221 shares during the period. US Bancorp DE bought a new position in Tyra Biosciences in the fourth quarter worth about $50,000. Alta Partners Management Company L.P. acquired a new position in Tyra Biosciences in the fourth quarter valued at approximately $56,716,000. Finally, Victory Capital Management Inc. grew 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 valued at $787,000 after purchasing an additional 26,560 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.