Tyra Biosciences (NASDAQ:TYRA) Shares Gap Up Following Insider Buying Activity

Tyra Biosciences, Inc. (NASDAQ:TYRA) shares gapped up before the market opened on Monday after an insider bought additional shares in the company. The stock had previously closed at $16.39, but opened at $17.08. Tyra Biosciences shares last traded at $16.43, with a volume of 25,422 shares trading hands.

Specifically, CFO Alan Fuhrman acquired 9,500 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average price of $16.00 per share, with a total value of $152,000.00. Following the transaction, the chief financial officer now owns 12,849 shares of the company’s stock, valued at approximately $205,584. This trade represents a 200.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Oppenheimer lifted their target price on Tyra Biosciences from $25.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. Wedbush reaffirmed an “outperform” rating and set a $28.00 price objective on shares of Tyra Biosciences in a research report on Friday, October 25th. HC Wainwright upped their price objective on shares of Tyra Biosciences from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Piper Sandler assumed coverage on shares of 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 shares of Tyra Biosciences from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $22.00 to $31.00 in a research note on Friday, October 18th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $31.40.

Tyra Biosciences Stock Up 0.2 %

The stock’s fifty day simple moving average is $22.39 and its 200-day simple moving average is $19.96. The company has a market capitalization of $867.60 million, a PE ratio of -9.70 and a beta of 1.08.

Tyra Biosciences (NASDAQ:TYRA) last posted its earnings results on Wednesday, August 7th. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.09. Analysts expect that Tyra Biosciences, Inc. will post -1.53 EPS for the current year.

Institutional Investors Weigh In On Tyra Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the business. RA Capital Management L.P. boosted its holdings in shares of Tyra Biosciences by 43.9% during the first quarter. RA Capital Management L.P. now owns 10,416,609 shares of the company’s stock worth $170,832,000 after purchasing an additional 3,180,155 shares during the last quarter. BVF Inc. IL boosted its stake in Tyra Biosciences by 70.1% in the 1st quarter. BVF Inc. IL now owns 4,661,194 shares of the company’s stock worth $76,444,000 after buying an additional 1,921,599 shares during the last quarter. Perceptive Advisors LLC grew its holdings in Tyra Biosciences by 50.5% in the 2nd quarter. Perceptive Advisors LLC now owns 1,007,367 shares of the company’s stock valued at $16,108,000 after buying an additional 338,208 shares during the period. Ally Bridge Group NY LLC acquired a new position in shares of Tyra Biosciences during the 2nd quarter valued at about $4,232,000. Finally, Ensign Peak Advisors Inc acquired a new stake in shares of Tyra Biosciences in the second quarter worth approximately $3,047,000. 84.14% of the stock is currently owned by hedge funds and other 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.