Tyra Biosciences (NASDAQ:TYRA) Trading Up 6.2% – Should You Buy?

Tyra Biosciences, Inc. (NASDAQ:TYRA)’s share price rose 6.2% on Friday . The stock traded as high as $25.23 and last traded at $26.3990. 21,389 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 860,577 shares. The stock had previously closed at $24.86.

Analysts Set New Price Targets

TYRA has been the topic of a number of research analyst reports. Wolfe Research began coverage on Tyra Biosciences in a research report on Tuesday, May 19th. They issued a “peer perform” rating on the stock. JonesTrading started coverage on Tyra Biosciences in a report on Wednesday, June 17th. They set a “buy” rating and a $56.00 price target for the company. Jefferies Financial Group reissued a “buy” rating and set a $42.00 price objective on shares of Tyra Biosciences in a research report on Wednesday, August 5th. Bank of America boosted their price objective on shares of Tyra Biosciences from $37.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $45.00 target price on shares of Tyra Biosciences in a research report on Thursday, May 14th. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Tyra Biosciences has a consensus rating of “Moderate Buy” and an average price target of $48.22.

Tyra Biosciences Trading Up 13.7%

The stock has a market cap of $1.69 billion, a price-to-earnings ratio of -11.77 and a beta of 0.73. The company’s fifty day moving average is $29.09 and its two-hundred day moving average is $32.05.

Tyra Biosciences (NASDAQ:TYRA) last released 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). Analysts predict that Tyra Biosciences, Inc. will post -2.74 EPS for the current year.

Hedge Funds Weigh In On Tyra Biosciences

Hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System boosted its holdings in Tyra Biosciences by 55,815.5% during the 2nd quarter. California State Teachers Retirement System now owns 783,935 shares of the company’s stock valued at $24,544,000 after acquiring an additional 782,533 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in Tyra Biosciences during the second quarter worth about $334,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Tyra Biosciences by 125.8% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,688 shares of the company’s stock worth $565,000 after purchasing an additional 9,856 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Tyra Biosciences during the second quarter worth about $237,000. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of Tyra Biosciences during the second quarter worth about $321,000. Institutional investors and hedge funds 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.