Tyra Biosciences (NASDAQ:TYRA) Shares Gap Up Following Better-Than-Expected Earnings

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) gapped up before the market opened on Friday following a stronger than expected earnings report. The stock had previously closed at $9.66, but opened at $10.50. Tyra Biosciences shares last traded at $9.93, with a volume of 29,153 shares trading hands.

The company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.05.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TYRA shares. UBS Group initiated coverage on Tyra Biosciences in a research report on Tuesday, January 7th. They set a “buy” rating and a $28.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Tyra Biosciences in a report on Tuesday, February 18th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $30.50.

Insider Buying and Selling

In other news, Director Nina S. Kjellson sold 3,993 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $16.36, for a total transaction of $65,325.48. Following the completion of the sale, the director now owns 3,707,420 shares in the company, valued at approximately $60,653,391.20. This represents a 0.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 21,998 shares of company stock valued at $344,818. Company insiders own 15.40% of the company’s stock.

Institutional Trading of Tyra Biosciences

Several institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Tyra Biosciences by 2.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 173,737 shares of the company’s stock worth $4,085,000 after acquiring an additional 3,792 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Tyra Biosciences in the 3rd quarter worth $333,000. FMR LLC boosted its holdings in Tyra Biosciences by 0.8% during the third quarter. FMR LLC now owns 3,372,850 shares of the company’s stock worth $79,296,000 after buying an additional 26,187 shares during the last quarter. Ally Bridge Group NY LLC raised its holdings in Tyra Biosciences by 2.0% in the third quarter. Ally Bridge Group NY LLC now owns 270,075 shares of the company’s stock worth $6,349,000 after purchasing an additional 5,415 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Tyra Biosciences in the 3rd quarter valued at approximately $593,000. Institutional investors and hedge funds own 84.14% of the company’s stock.

Tyra Biosciences Trading Up 2.3 %

The company has a 50 day simple moving average of $12.59 and a 200-day simple moving average of $16.45. The stock has a market cap of $499.96 million, a price-to-earnings ratio of -6.14 and a beta of 1.09.

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.