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

Tyra Biosciences, Inc. (NASDAQ:TYRA)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $32.08 and last traded at $32.0480, with a volume of 299560 shares changing hands. The stock had previously closed at $30.17.

Analysts Set New Price Targets

Several analysts have recently commented on TYRA shares. Weiss Ratings restated a “sell (d-)” rating on shares of Tyra Biosciences in a research note on Wednesday, January 21st. Wedbush raised their price objective on shares of Tyra Biosciences from $30.00 to $37.00 and gave the company an “outperform” rating in a research report on Tuesday, December 16th. Wall Street Zen lowered Tyra Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, January 24th. Barclays started coverage on Tyra Biosciences in a research note on Tuesday. They set an “overweight” rating for the company. Finally, Piper Sandler lifted their price target on Tyra Biosciences from $33.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $36.00.

Tyra Biosciences Stock Up 4.1%

The stock’s fifty day simple moving average is $25.77 and its 200-day simple moving average is $17.36. The company has a market capitalization of $1.73 billion, a PE ratio of -17.29 and a beta of 1.07.

Tyra Biosciences (NASDAQ:TYRA) last released 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). Analysts expect that Tyra Biosciences, Inc. will post -1.57 EPS for the current year.

Insider Buying and Selling at Tyra Biosciences

In other news, Director Robert J. More sold 246,871 shares of Tyra Biosciences stock in a transaction on Friday, November 21st. The stock was sold at an average price of $20.25, for a total transaction of $4,999,137.75. Following the completion of the transaction, the director owned 3,833,425 shares of the company’s stock, valued at $77,626,856.25. The trade was a 6.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 15.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tyra Biosciences

Several hedge funds have recently added to or reduced their stakes in TYRA. Millennium Management LLC lifted its holdings in shares of Tyra Biosciences by 28.2% in the first quarter. Millennium Management LLC now owns 404,165 shares of the company’s stock valued at $3,759,000 after purchasing an additional 89,024 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Tyra Biosciences by 21.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 78,006 shares of the company’s stock worth $725,000 after purchasing an additional 13,896 shares during the last quarter. Woodline Partners LP purchased a new stake in Tyra Biosciences in the 1st quarter valued at approximately $931,000. Jane Street Group LLC acquired a new stake in Tyra Biosciences during the 1st quarter valued at $324,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Tyra Biosciences during the second quarter worth $177,000. 84.14% of the stock is currently owned by hedge funds and other institutional investors.

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.