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

Tyra Biosciences, Inc. (NASDAQ:TYRA) gapped up prior to trading on Monday . The stock had previously closed at $22.03, but opened at $23.20. Tyra Biosciences shares last traded at $24.5590, with a volume of 129,442 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently commented on TYRA shares. Piper Sandler reissued an “overweight” rating and issued a $56.00 price objective on shares of Tyra Biosciences in a research report on Tuesday, September 8th. Wolfe Research started coverage on shares of Tyra Biosciences in a research report on Tuesday, May 19th. They issued a “peer perform” rating for the company. Jefferies Financial Group reiterated a “buy” rating and issued a $42.00 price target on shares of Tyra Biosciences in a research note on Wednesday, August 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tyra Biosciences in a report on Friday, July 17th. Finally, HC Wainwright lowered their price target on Tyra Biosciences from $45.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $47.88.

Tyra Biosciences Stock Performance

The firm has a fifty day simple moving average of $28.39 and a 200-day simple moving average of $31.83. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -10.54 and a beta of 0.73.

Tyra Biosciences (NASDAQ:TYRA) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.65) by ($0.04). Analysts expect that Tyra Biosciences, Inc. will post -2.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC raised its holdings in Tyra Biosciences by 28.2% in the 1st quarter. Millennium Management LLC now owns 404,165 shares of the company’s stock valued at $3,759,000 after acquiring an additional 89,024 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Tyra Biosciences by 21.7% during the first quarter. Goldman Sachs Group Inc. now owns 78,006 shares of the company’s stock worth $725,000 after acquiring an additional 13,896 shares during the period. Woodline Partners LP acquired a new position in shares of Tyra Biosciences in the first quarter valued at approximately $931,000. Jane Street Group LLC acquired a new position in shares of Tyra Biosciences in the first quarter valued at approximately $324,000. Finally, Geode Capital Management LLC grew its position in shares of Tyra Biosciences by 9.8% in the second quarter. Geode Capital Management LLC now owns 567,126 shares of the company’s stock valued at $5,428,000 after purchasing an additional 50,836 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 is a clinical-stage biotechnology company focused on developing precision medicines for diseases with limited treatment options. The company uses its proprietary SNÅP platform to design small-molecule therapies intended to selectively target disease-driving genetic alterations while addressing resistance mechanisms that can reduce the effectiveness of existing treatments.

Tyra’s lead programs are directed at fibroblast growth factor receptor (FGFR) biology. TYRA-300 is an oral, selective FGFR3 inhibitor being developed for conditions including FGFR3-altered urothelial cancer and achondroplasia, a genetic skeletal disorder.