Tyra Biosciences (NASDAQ:TYRA) Sets New 12-Month High – Here’s What Happened

Tyra Biosciences, Inc. (NASDAQ:TYRA) reached a new 52-week high during trading on Wednesday . The company traded as high as $36.20 and last traded at $35.8320, with a volume of 639560 shares. The stock had previously closed at $34.74.

Analyst Ratings Changes

TYRA has been the subject of a number of recent research reports. HC Wainwright raised their target price on shares of Tyra Biosciences from $30.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. William Blair began coverage on Tyra Biosciences in a report on Tuesday, February 10th. They set an “outperform” rating for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Tyra Biosciences in a research note on Wednesday, January 21st. Barclays started coverage on Tyra Biosciences in a report on Tuesday, January 27th. They issued an “overweight” rating for the company. Finally, Cantor Fitzgerald initiated coverage on Tyra Biosciences in a report on Tuesday, February 24th. They set an “overweight” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Tyra Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $42.33.

Tyra Biosciences Stock Up 4.4%

The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -17.98 and a beta of 1.06. The business’s 50-day simple moving average is $30.61 and its two-hundred day simple moving average is $21.59.

Tyra Biosciences (NASDAQ:TYRA) last released its quarterly earnings results on Monday, March 2nd. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.03). On average, analysts expect that Tyra Biosciences, Inc. will post -1.57 earnings per share for the current year.

Insider Activity

In other Tyra Biosciences news, Director Robert J. More sold 10,000 shares of the company’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $25.00, for a total transaction of $250,000.00. Following the transaction, the director directly owned 3,823,425 shares in the company, valued at $95,585,625. This represents a 0.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 15.20% of the company’s stock.

Institutional Trading of Tyra Biosciences

A number of large investors have recently made changes to their positions in TYRA. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Tyra Biosciences during the 4th quarter worth approximately $51,000. Chung Wu Investment Group LLC purchased a new position in Tyra Biosciences during the 4th quarter worth $53,000. Federated Hermes Inc. raised its holdings in Tyra Biosciences by 586.3% during the third quarter. Federated Hermes Inc. now owns 2,155 shares of the company’s stock worth $30,000 after purchasing an additional 1,841 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Tyra Biosciences by 25.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,594 shares of the company’s stock valued at $68,000 after buying an additional 534 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new stake in Tyra Biosciences in the fourth quarter valued at $220,000. 84.14% of the stock is currently owned by hedge funds and other institutional investors.

About Tyra Biosciences

Tyra Biosciences (NASDAQ: TYRA) is a clinical-stage precision oncology company focused on the discovery and development of small-molecule therapies for genetically defined cancers. The company integrates bioinformatics, molecular biology and medicinal chemistry to identify oncogenic drivers and design targeted inhibitors. By leveraging large-scale genomic datasets and functional screening, Tyra Biosciences aims to advance therapies that address patient populations with high unmet medical need.

The company’s pipeline includes multiple programs at various stages of development, each directed against distinct molecular vulnerabilities in cancer cells.