Tyra Biosciences (NASDAQ:TYRA) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) saw an uptick in trading volume on Friday . 802,309 shares traded hands during trading, an increase of 190% from the previous session’s volume of 276,558 shares.The stock last traded at $11.24 and had previously closed at $10.74.

Wall Street Analysts Forecast Growth

TYRA has been the topic of several recent analyst reports. UBS Group started coverage on Tyra Biosciences in a research report on Tuesday, January 7th. They issued a “buy” rating and a $28.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Tyra Biosciences in a report on Tuesday, February 18th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $30.50.

Tyra Biosciences Trading Up 7.7 %

The firm’s 50 day moving average price is $13.63 and its two-hundred day moving average price is $17.21. The company has a market capitalization of $585.22 million, a P/E ratio of -7.16 and a beta of 1.09.

Insider Activity

In other news, Director Nina S. Kjellson sold 3,993 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $16.36, for a total transaction of $65,325.48. Following the sale, the director now owns 3,707,420 shares in the company, valued at $60,653,391.20. This represents a 0.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders sold 21,998 shares of company stock worth $344,818 in the last quarter. Corporate insiders own 15.40% of the company’s stock.

Institutional Investors Weigh In On Tyra Biosciences

Several hedge funds have recently bought and sold shares of the company. Polar Asset Management Partners Inc. raised its position in shares of Tyra Biosciences by 26.1% in the fourth quarter. Polar Asset Management Partners Inc. now owns 111,107 shares of the company’s stock valued at $1,544,000 after purchasing an additional 23,007 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Tyra Biosciences by 41.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,635 shares of the company’s stock worth $495,000 after buying an additional 10,426 shares in the last quarter. Vestal Point Capital LP bought a new position in Tyra Biosciences in the 4th quarter valued at about $13,761,000. Squarepoint Ops LLC acquired a new position in shares of Tyra Biosciences in the 4th quarter valued at approximately $253,000. Finally, Two Sigma Advisers LP bought a new stake in shares of Tyra Biosciences during the 4th quarter worth approximately $171,000. 84.14% of the stock is currently owned by institutional investors and hedge funds.

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.