Tyra Biosciences (NASDAQ:TYRA) Stock Price Up 6.2% – Here’s Why

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) were up 6.2% on Monday . The company traded as high as $26.70 and last traded at $26.85. 256,793 shares were traded during mid-day trading, a decline of 72% from the average session volume of 903,935 shares. The stock had previously closed at $25.29.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Bank of America boosted their price target on Tyra Biosciences from $37.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Jefferies Financial Group reiterated a “buy” rating and set a $42.00 target price on shares of Tyra Biosciences in a research report on Wednesday, August 5th. JonesTrading started coverage on shares of Tyra Biosciences in a research note on Wednesday, June 17th. They set a “buy” rating and a $56.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Tyra Biosciences in a report on Friday, July 17th. Finally, Wolfe Research started coverage on shares of Tyra Biosciences in a research note on Tuesday, May 19th. They issued a “peer perform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Tyra Biosciences currently has an average rating of “Moderate Buy” and a consensus target price of $46.90.

Tyra Biosciences Stock Down 0.7%

The company has a market capitalization of $1.55 billion, a PE ratio of -10.85 and a beta of 0.77. The stock has a 50-day moving average of $29.75 and a 200 day moving average of $32.45.

Tyra Biosciences (NASDAQ:TYRA) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.04). Equities analysts forecast that Tyra Biosciences, Inc. will post -2.74 EPS for the current fiscal year.

Institutional Investors Weigh In On Tyra Biosciences

Several hedge funds have recently added to or reduced their stakes in the company. Hilton Head Capital Partners LLC purchased a new stake in shares of Tyra Biosciences during the first quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Tyra Biosciences in the fourth quarter worth $51,000. Chung Wu Investment Group LLC purchased a new position in shares of Tyra Biosciences in the fourth quarter worth $53,000. State of Wyoming bought a new stake in Tyra Biosciences during the 2nd quarter valued at $76,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Tyra Biosciences by 25.9% during 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 last quarter. Institutional investors own 84.14% of the company’s stock.

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.