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

Tyra Biosciences, Inc. (NASDAQ:TYRA) shares gapped up before the market opened on Thursday . The stock had previously closed at $15.74, but opened at $16.59. Tyra Biosciences shares last traded at $16.18, with a volume of 15,912 shares changing hands.

Analyst Upgrades and Downgrades

TYRA has been the subject of several analyst reports. HC Wainwright decreased their target price on shares of Tyra Biosciences from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Oppenheimer upped their price objective on shares of Tyra Biosciences from $25.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. Bank of America raised Tyra Biosciences from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $22.00 to $31.00 in a research report on Friday, October 18th. Wedbush reissued an “outperform” rating and issued a $28.00 price target on shares of Tyra Biosciences in a report on Friday, October 25th. Finally, Piper Sandler started coverage on Tyra Biosciences in a report on Thursday, August 15th. They set an “overweight” rating and a $33.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Tyra Biosciences presently has an average rating of “Buy” and a consensus target price of $31.00.

Tyra Biosciences Stock Performance

The firm has a market cap of $778.78 million, a price-to-earnings ratio of -9.56 and a beta of 1.08. The business’s 50 day moving average price is $21.31 and its 200-day moving average price is $19.95.

Tyra Biosciences (NASDAQ:TYRA) last released its earnings results on Thursday, November 7th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.01). On average, analysts forecast that Tyra Biosciences, Inc. will post -1.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Tyra Biosciences

In related news, CFO Alan Fuhrman bought 9,500 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was bought at an average cost of $16.00 per share, for a total transaction of $152,000.00. Following the completion of the purchase, the chief financial officer now directly owns 12,849 shares in the company, valued at approximately $205,584. The trade was a 283.67 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd Harris sold 10,092 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $24.13, for a total value of $243,519.96. Following the transaction, the chief executive officer now directly owns 1,479,528 shares of the company’s stock, valued at $35,701,010.64. This trade represents a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,050 shares of company stock worth $2,235,492 over the last 90 days. Insiders own 15.40% of the company’s stock.

Institutional Investors Weigh In On Tyra Biosciences

Several large investors have recently added to or reduced their stakes in TYRA. Vanguard Group Inc. grew its position in shares of Tyra Biosciences by 18.6% during the first quarter. Vanguard Group Inc. now owns 899,800 shares of the company’s stock worth $14,757,000 after acquiring an additional 140,833 shares during the last quarter. BVF Inc. IL boosted its stake in Tyra Biosciences by 70.1% during the 1st quarter. BVF Inc. IL now owns 4,661,194 shares of the company’s stock valued at $76,444,000 after purchasing an additional 1,921,599 shares during the period. Kynam Capital Management LP grew its position in Tyra Biosciences by 51.4% in the 1st quarter. Kynam Capital Management LP now owns 515,190 shares of the company’s stock worth $8,449,000 after purchasing an additional 175,000 shares during the last quarter. RA Capital Management L.P. increased its stake in shares of Tyra Biosciences by 43.9% in the first quarter. RA Capital Management L.P. now owns 10,416,609 shares of the company’s stock valued at $170,832,000 after purchasing an additional 3,180,155 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Tyra Biosciences by 32.8% during the second quarter. Bank of New York Mellon Corp now owns 58,087 shares of the company’s stock valued at $929,000 after buying an additional 14,352 shares during the last quarter. 84.14% of the stock is owned by institutional investors and hedge funds.

About Tyra Biosciences

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.