Tyra Biosciences Target of Unusually High Options Trading (NASDAQ:TYRA)

Tyra Biosciences, Inc. (NASDAQ:TYRA) was the target of unusually large options trading activity on Friday. Stock investors bought 5,577 call options on the company. This is an increase of 4,257% compared to the typical volume of 128 call options.

Analyst Ratings Changes

TYRA has been the topic of several recent research reports. Jefferies Financial Group restated a “buy” rating and set a $42.00 target price on shares of Tyra Biosciences in a research report on Wednesday, August 5th. JonesTrading started coverage on Tyra Biosciences in a research report on Wednesday, June 17th. They issued a “buy” rating and a $56.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Tyra Biosciences in a research note on Friday, July 17th. 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. Finally, Wolfe Research began coverage on Tyra Biosciences in a research note on Tuesday, May 19th. They issued a “peer perform” rating for the company. Twelve investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $48.22.

Tyra Biosciences Stock Performance

TYRA stock traded up $3.84 during mid-day trading on Friday, reaching $28.70. 210,974 shares of the stock traded hands, compared to its average volume of 861,206. Tyra Biosciences has a one year low of $11.70 and a one year high of $40.65. The stock has a market capitalization of $1.71 billion, a PE ratio of -11.64 and a beta of 0.73. The business has a 50-day moving average price of $29.09 and a two-hundred day moving average price of $32.05.

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 the consensus estimate of ($0.65) by ($0.04). On average, equities analysts expect that Tyra Biosciences will post -2.74 earnings per share for the current fiscal year.

Institutional Trading of Tyra Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jupiter Topco LLC purchased a new position in shares of Tyra Biosciences during the second quarter valued at approximately $139,161,000. Janus Henderson Group PLC raised its holdings in shares of Tyra Biosciences by 32.5% in the first quarter. Janus Henderson Group PLC now owns 3,890,589 shares of the company’s stock worth $148,867,000 after buying an additional 955,147 shares during the period. Commodore Capital LP lifted its stake in shares of Tyra Biosciences by 226.3% during the 2nd quarter. Commodore Capital LP now owns 3,100,000 shares of the company’s stock worth $29,667,000 after acquiring an additional 2,150,000 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Tyra Biosciences during the 2nd quarter worth approximately $96,841,000. Finally, Farallon Capital Management LLC boosted its holdings in Tyra Biosciences by 80.7% during the 4th quarter. Farallon Capital Management LLC now owns 2,066,818 shares of the company’s stock valued at $54,337,000 after acquiring an additional 923,000 shares during the period. 84.14% of the stock is 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.