Tyra Biosciences (NASDAQ:TYRA) Hits New 1-Year High – Should You Buy?

Tyra Biosciences, Inc. (NASDAQ:TYRA)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $28.99 and last traded at $28.90, with a volume of 116088 shares changing hands. The stock had previously closed at $28.16.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. HC Wainwright raised their price objective on Tyra Biosciences from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Piper Sandler started coverage on shares of Tyra Biosciences in a research note on Thursday, August 15th. They set an “overweight” rating and a $33.00 target price on the stock. Wedbush reaffirmed an “outperform” rating and set a $28.00 price target on shares of Tyra Biosciences in a report on Thursday, August 8th. Bank of America raised shares of Tyra Biosciences from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $22.00 to $31.00 in a research note on Friday, October 18th. Finally, Oppenheimer lifted their target price on shares of Tyra Biosciences from $25.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $31.00.

Tyra Biosciences Trading Down 0.9 %

The company has a 50 day simple moving average of $22.62 and a two-hundred day simple moving average of $19.67. The firm has a market capitalization of $1.47 billion, a P/E ratio of -16.76 and a beta of 1.01.

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

Insider Buying and Selling at Tyra Biosciences

In other 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 completion of the sale, the chief executive officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 61,403 shares of company stock valued at $1,582,774 in the last quarter. 15.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TYRA. HighVista Strategies LLC purchased a new stake in shares of Tyra Biosciences in the 2nd quarter worth $257,000. SG Americas Securities LLC bought a new position in Tyra Biosciences during the 3rd quarter worth about $311,000. Rhumbline Advisers grew its holdings in Tyra Biosciences by 12.3% during the 2nd quarter. Rhumbline Advisers now owns 23,572 shares of the company’s stock worth $377,000 after acquiring an additional 2,574 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Tyra Biosciences by 32.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 58,087 shares of the company’s stock worth $929,000 after acquiring an additional 14,352 shares in the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new position in Tyra Biosciences during the 1st quarter valued at about $977,000. 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.