Tyra Biosciences (NASDAQ:TYRA) Shares Gap Up – Here’s Why

Tyra Biosciences, Inc. (NASDAQ:TYRA)’s stock price 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 traded.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Oppenheimer raised their price objective on Tyra Biosciences from $25.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Wedbush reaffirmed an “outperform” rating and set a $28.00 price target on shares of Tyra Biosciences in a research note on Friday, October 25th. Piper Sandler started coverage on shares of Tyra Biosciences in a research note on Thursday, August 15th. They issued an “overweight” rating and a $33.00 price objective on the stock. HC Wainwright dropped their target price on shares of Tyra Biosciences from $32.00 to $30.00 and set a “buy” rating for the company in a report on Monday, November 11th. Finally, Bank of America upgraded shares of Tyra Biosciences from a “neutral” rating to a “buy” rating and increased their price target for the company from $22.00 to $31.00 in a research report on Friday, October 18th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $31.00.

Tyra Biosciences Stock Performance

The company has a market capitalization of $778.78 million, a PE ratio of -9.56 and a beta of 1.08. The stock’s fifty day simple moving average is $21.31 and its 200-day simple moving average is $19.95.

Tyra Biosciences (NASDAQ:TYRA) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.01). On average, equities analysts anticipate that Tyra Biosciences, Inc. will post -1.57 EPS for the current year.

Insider Activity

In related news, CFO Alan Fuhrman purchased 9,500 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were bought at an average price of $16.00 per share, with a total value 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. This trade represents a 283.67 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Todd Harris sold 5,698 shares of Tyra Biosciences stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $24.31, for a total transaction of $138,518.38. Following the completion of the transaction, the chief executive officer now owns 1,496,729 shares in the company, valued at approximately $36,385,481.99. This trade represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,050 shares of company stock valued at $2,235,492 over the last quarter. Company insiders own 15.40% of the company’s stock.

Institutional Trading of Tyra Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Tyra Biosciences by 18.6% during the first quarter. Vanguard Group Inc. now owns 899,800 shares of the company’s stock valued at $14,757,000 after acquiring an additional 140,833 shares during the period. American Century Companies Inc. grew its holdings in shares of Tyra Biosciences by 582.9% during the 2nd quarter. American Century Companies Inc. now owns 170,283 shares of the company’s stock worth $2,723,000 after purchasing an additional 145,346 shares during the period. Perceptive Advisors LLC increased its position in 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 purchasing an additional 338,208 shares in the last quarter. Ensign Peak Advisors Inc acquired a new stake in Tyra Biosciences during the 2nd quarter worth approximately $3,047,000. Finally, SG Americas Securities LLC purchased a new position in Tyra Biosciences in the third quarter valued at approximately $311,000. 84.14% of the stock is currently 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.