Tyra Biosciences (NASDAQ:TYRA) Sets New 1-Year High – Here’s Why

Tyra Biosciences, Inc. (NASDAQ:TYRA) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $31.16 and last traded at $30.5840, with a volume of 700399 shares. The stock had previously closed at $28.77.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wall Street Zen raised shares of Tyra Biosciences from a “sell” rating to a “hold” rating in a research note on Sunday, January 4th. Wedbush increased their target price on Tyra Biosciences from $30.00 to $37.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tyra Biosciences in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $34.20.

Tyra Biosciences Price Performance

The firm’s 50-day moving average price is $23.49 and its 200-day moving average price is $16.30. The company has a market cap of $1.58 billion, a price-to-earnings ratio of -15.78 and a beta of 1.07.

Tyra Biosciences (NASDAQ:TYRA) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.50) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.50). On average, sell-side analysts anticipate that Tyra Biosciences, Inc. will post -1.57 earnings per share for the current year.

Insider Buying and Selling at Tyra Biosciences

In other news, Director Robert J. More sold 10,000 shares of the company’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $25.00, for a total value of $250,000.00. Following the completion of the sale, the director owned 3,823,425 shares of the company’s stock, valued at $95,585,625. This represents a 0.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Tyra Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of TYRA. Federated Hermes Inc. boosted its holdings in Tyra Biosciences by 586.3% in the 3rd quarter. Federated Hermes Inc. now owns 2,155 shares of the company’s stock worth $30,000 after acquiring an additional 1,841 shares during the period. SG Americas Securities LLC acquired a new position in shares of Tyra Biosciences during the third quarter worth $133,000. Russell Investments Group Ltd. boosted its stake in shares of Tyra Biosciences by 27.7% in the third quarter. Russell Investments Group Ltd. now owns 12,741 shares of the company’s stock valued at $178,000 after purchasing an additional 2,766 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Tyra Biosciences by 14.5% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,182 shares of the company’s stock valued at $126,000 after purchasing an additional 1,668 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in Tyra Biosciences during the 2nd quarter valued at $177,000. 84.14% of the stock is owned by institutional investors and hedge funds.

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.