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

Tyra Biosciences, Inc. (NASDAQ:TYRA) gapped up prior to trading 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 bought 9,500 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average price of $16.00 per share, for a total transaction of $152,000.00. Following the purchase, the chief financial officer now owns 12,849 shares in the company, valued at $205,584. This represents a 200.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TYRA. Bank of America upgraded 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 report on Friday, October 18th. Piper Sandler began 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. Wedbush restated an “outperform” rating and issued a $28.00 price objective on shares of Tyra Biosciences in a report on Friday, October 25th. Oppenheimer increased 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. Finally, HC Wainwright lifted their price objective on shares of Tyra Biosciences from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Tyra Biosciences presently has a consensus rating of “Buy” and an average price target of $31.40.

Tyra Biosciences Price Performance

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

Tyra Biosciences (NASDAQ:TYRA) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.09. As a group, analysts predict that Tyra Biosciences, Inc. will post -1.53 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. acquired a new position in shares of Tyra Biosciences during the 1st quarter worth approximately $977,000. Vanguard Group Inc. grew its holdings in Tyra Biosciences by 18.6% in the 1st quarter. Vanguard Group Inc. now owns 899,800 shares of the company’s stock valued at $14,757,000 after buying an additional 140,833 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Tyra Biosciences by 582.9% in the 2nd quarter. American Century Companies Inc. now owns 170,283 shares of the company’s stock worth $2,723,000 after acquiring an additional 145,346 shares during the last quarter. Perceptive Advisors LLC raised its holdings in shares of Tyra Biosciences by 50.5% during the 2nd quarter. Perceptive Advisors LLC now owns 1,007,367 shares of the company’s stock worth $16,108,000 after acquiring an additional 338,208 shares during the period. Finally, Ensign Peak Advisors Inc purchased a new stake in shares of Tyra Biosciences in the second quarter valued at about $3,047,000. Hedge funds and other institutional investors own 84.14% of the company’s stock.

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.