Tyra Biosciences (NASDAQ:TYRA) Stock Price Up 6.5%

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) rose 6.5% during trading on Monday . The stock traded as high as $16.78 and last traded at $16.69. Approximately 53,973 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 129,241 shares. The stock had previously closed at $15.67.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wedbush reissued an “outperform” rating and issued a $28.00 price target on shares of Tyra Biosciences in a report on Thursday, March 21st. HC Wainwright reissued a “buy” rating and issued a $23.00 target price (up previously from $19.00) on shares of Tyra Biosciences in a research note on Wednesday, March 20th.

Tyra Biosciences Price Performance

The stock has a market capitalization of $960.59 million, a price-to-earnings ratio of -11.39 and a beta of 1.12. The firm has a 50 day simple moving average of $17.28 and a 200-day simple moving average of $14.88.

Tyra Biosciences (NASDAQ:TYRA) last announced its earnings results on Tuesday, March 19th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.05). On average, sell-side analysts forecast that Tyra Biosciences, Inc. will post -1.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Daniel Bensen sold 1,501 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $20.00, for a total value of $30,020.00. Following the completion of the sale, the chief operating officer now directly owns 451,480 shares in the company, valued at $9,029,600. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 15,816 shares of company stock valued at $298,165. 15.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Tyra Biosciences

Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its stake in shares of Tyra Biosciences by 2.6% during the third quarter. Bank of New York Mellon Corp now owns 41,870 shares of the company’s stock valued at $577,000 after acquiring an additional 1,074 shares during the period. Simplex Trading LLC boosted its stake in shares of Tyra Biosciences by 198.1% in the 3rd quarter. Simplex Trading LLC now owns 2,009 shares of the company’s stock valued at $27,000 after purchasing an additional 1,335 shares during the last quarter. Corton Capital Inc. acquired a new stake in shares of Tyra Biosciences during the 3rd quarter worth approximately $152,000. Wellington Management Group LLP grew its position in shares of Tyra Biosciences by 18.5% during the 3rd quarter. Wellington Management Group LLP now owns 94,112 shares of the company’s stock worth $1,296,000 after buying an additional 14,676 shares during the period. Finally, Exchange Traded Concepts LLC raised its stake in shares of Tyra Biosciences by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 9,531 shares of the company’s stock worth $132,000 after buying an additional 2,417 shares during the last quarter. 84.14% of the stock is owned by institutional investors.

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.