Tyra Biosciences (NASDAQ:TYRA) Sees Strong Trading Volume – Should You Buy?

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) saw unusually-strong trading volume on Monday . Approximately 104,485 shares were traded during trading, a decline of 29% from the previous session’s volume of 148,000 shares.The stock last traded at $22.19 and had previously closed at $21.94.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Oppenheimer upped 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. Piper Sandler initiated coverage on shares of Tyra Biosciences in a research report on Thursday, August 15th. They set an “overweight” rating and a $33.00 price objective for the company. HC Wainwright raised their target price on shares of Tyra Biosciences from $25.00 to $30.00 and gave the company a “buy” rating in a report on Monday, October 7th. Finally, Wedbush restated an “outperform” rating and issued a $28.00 target price on shares of Tyra Biosciences in a research report on Thursday, August 8th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $27.80.

Tyra Biosciences Trading Up 11.1 %

The firm has a 50-day moving average of $21.85 and a two-hundred day moving average of $19.27. The firm has a market capitalization of $1.29 billion, a P/E ratio of -14.56 and a beta of 1.01.

Tyra Biosciences (NASDAQ:TYRA) last issued its earnings results on Wednesday, August 7th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.09. On average, sell-side analysts anticipate that Tyra Biosciences, Inc. will post -1.53 EPS for the current fiscal year.

Insider Activity at Tyra Biosciences

In other Tyra Biosciences news, CEO Todd Harris sold 10,092 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $24.13, for a total transaction of $243,519.96. Following the sale, the chief executive officer now owns 1,479,528 shares of the company’s stock, valued at approximately $35,701,010.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 16,890 shares of company stock valued at $408,444 in the last quarter. Insiders own 15.40% of the company’s stock.

Institutional Trading of Tyra Biosciences

Hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP increased its stake in shares of Tyra Biosciences by 8.8% in the fourth quarter. Wellington Management Group LLP now owns 102,436 shares of the company’s stock valued at $1,419,000 after buying an additional 8,324 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in Tyra Biosciences during the 1st quarter worth approximately $977,000. Vanguard Group Inc. grew its holdings in Tyra Biosciences by 18.6% during the 1st 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 increased its position in Tyra Biosciences by 70.1% in the 1st quarter. BVF Inc. IL now owns 4,661,194 shares of the company’s stock valued at $76,444,000 after acquiring an additional 1,921,599 shares during the period. Finally, Kynam Capital Management LP raised its stake in shares of Tyra Biosciences by 51.4% during the first quarter. Kynam Capital Management LP now owns 515,190 shares of the company’s stock valued at $8,449,000 after acquiring an additional 175,000 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.