Tyra Biosciences (NASDAQ:TYRA) Sees Unusually-High Trading Volume After Analyst Upgrade

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) saw unusually-high trading volume on Monday after HC Wainwright raised their price target on the stock from $30.00 to $32.00. HC Wainwright currently has a buy rating on the stock. Approximately 120,491 shares traded hands during mid-day trading, a decline of 27% from the previous session’s volume of 165,546 shares.The stock last traded at $21.06 and had previously closed at $21.93.

TYRA has been the subject of a number of other reports. Wedbush reaffirmed an “outperform” rating and set a $28.00 target price on shares of Tyra Biosciences in a report on Friday, October 25th. Oppenheimer upped their price objective on Tyra Biosciences from $25.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Piper Sandler assumed coverage on Tyra Biosciences in a research report on Thursday, August 15th. They set an “overweight” rating and a $33.00 target price on the stock. Finally, Bank of America raised Tyra Biosciences from a “neutral” rating to a “buy” rating and boosted their price target for the company from $22.00 to $31.00 in a report on Friday, October 18th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $31.40.

Insider Activity

In other Tyra Biosciences news, CEO Todd Harris sold 5,698 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $24.31, for a total value of $138,518.38. Following the completion of the sale, the chief executive officer now owns 1,496,729 shares in the company, valued at approximately $36,385,481.99. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 61,403 shares of company stock worth $1,582,774 in the last three months. Company insiders own 15.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TYRA. Rhumbline Advisers boosted its position in shares of Tyra Biosciences by 12.3% during the second quarter. Rhumbline Advisers now owns 23,572 shares of the company’s stock worth $377,000 after acquiring an additional 2,574 shares during the last quarter. Wellington Management Group LLP lifted its stake in Tyra Biosciences by 8.8% in the 4th quarter. Wellington Management Group LLP now owns 102,436 shares of the company’s stock worth $1,419,000 after purchasing an additional 8,324 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Tyra Biosciences in the 3rd quarter worth $311,000. Bank of New York Mellon Corp boosted its holdings in shares of Tyra Biosciences by 32.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 58,087 shares of the company’s stock valued at $929,000 after purchasing an additional 14,352 shares during the last quarter. Finally, HighVista Strategies LLC purchased a new position in shares of Tyra Biosciences during the second quarter valued at about $257,000. 84.14% of the stock is currently owned by institutional investors.

Tyra Biosciences Stock Down 15.0 %

The stock has a market capitalization of $893.02 million, a P/E ratio of -10.01 and a beta of 1.01. The company has a fifty day moving average price of $22.84 and a 200-day moving average price of $19.91.

Tyra Biosciences (NASDAQ:TYRA) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.09. As a group, research analysts expect that Tyra Biosciences, Inc. will post -1.53 earnings per share for the current fiscal year.

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.