Tyra Biosciences (NASDAQ:TYRA) Shares Up 4.8% – Here’s Why

Tyra Biosciences, Inc. (NASDAQ:TYRA) was up 4.8% during trading on Tuesday . The company traded as high as $10.02 and last traded at $10.15. Approximately 34,163 shares traded hands during trading, a decline of 87% from the average daily volume of 260,880 shares. The stock had previously closed at $9.68.

Analysts Set New Price Targets

Several brokerages recently issued reports on TYRA. Wedbush restated an “outperform” rating and issued a $30.00 price target on shares of Tyra Biosciences in a report on Friday, March 28th. HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of Tyra Biosciences in a report on Monday, March 31st. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Tyra Biosciences currently has an average rating of “Buy” and an average target price of $30.83.

Tyra Biosciences Price Performance

The company’s 50 day simple moving average is $9.53 and its two-hundred day simple moving average is $12.76. The stock has a market capitalization of $545.23 million, a P/E ratio of -6.22 and a beta of 1.17.

Tyra Biosciences (NASDAQ:TYRA) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.02. On average, research analysts anticipate that Tyra Biosciences, Inc. will post -1.57 earnings per share for the current fiscal year.

Institutional Trading of Tyra Biosciences

Large investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC purchased a new position in shares of Tyra Biosciences in the first quarter worth about $324,000. Woodline Partners LP purchased a new position in shares of Tyra Biosciences during the 1st quarter valued at $931,000. Goldman Sachs Group Inc. increased its holdings in shares of Tyra Biosciences by 21.7% in the first quarter. Goldman Sachs Group Inc. now owns 78,006 shares of the company’s stock worth $725,000 after purchasing an additional 13,896 shares during the period. Polar Asset Management Partners Inc. raised its position in shares of Tyra Biosciences by 27.1% in the first quarter. Polar Asset Management Partners Inc. now owns 141,241 shares of the company’s stock worth $1,314,000 after buying an additional 30,134 shares in the last quarter. Finally, Millennium Management LLC grew its position in Tyra Biosciences by 28.2% during the first quarter. Millennium Management LLC now owns 404,165 shares of the company’s stock worth $3,759,000 after buying an additional 89,024 shares in the last quarter. Hedge funds and other institutional investors own 84.14% of the company’s stock.

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.