Tyra Biosciences (NASDAQ:TYRA) Trading Up 8.4% – Should You Buy?

Tyra Biosciences, Inc. (NASDAQ:TYRA) shares traded up 8.4% during mid-day trading on Monday . The company traded as high as $17.15 and last traded at $17.0450. 92,910 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 281,482 shares. The stock had previously closed at $15.73.

Analyst Ratings Changes

Several brokerages recently issued reports on TYRA. Raymond James Financial began coverage on shares of Tyra Biosciences in a research report on Tuesday, September 2nd. They set a “strong-buy” rating and a $35.00 target price for the company. Wedbush reiterated an “outperform” rating and set a $30.00 price target on shares of Tyra Biosciences in a research note on Thursday, November 6th. Oppenheimer restated an “outperform” rating and issued a $36.00 price objective on shares of Tyra Biosciences in a research note on Wednesday, September 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tyra Biosciences in a report on Wednesday, October 8th. Finally, HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Tyra Biosciences in a research report on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Tyra Biosciences currently has an average rating of “Moderate Buy” and an average target price of $32.00.

Tyra Biosciences Stock Up 1.1%

The stock has a market capitalization of $848.61 million, a PE ratio of -8.50 and a beta of 1.12. The stock’s 50 day moving average price is $13.88 and its 200-day moving average price is $11.65.

Tyra Biosciences (NASDAQ:TYRA) last released its earnings results on Wednesday, November 5th. The company reported ($0.50) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.50). On average, analysts forecast that Tyra Biosciences, Inc. will post -1.57 earnings per share for the current year.

Institutional Trading of Tyra Biosciences

Several institutional investors have recently made changes to their positions in TYRA. Public Employees Retirement System of Ohio raised its stake in Tyra Biosciences by 34.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 24,962 shares of the company’s stock valued at $349,000 after purchasing an additional 6,450 shares during the period. HighVista Strategies LLC lifted its holdings in shares of Tyra Biosciences by 163.6% in the third quarter. HighVista Strategies LLC now owns 65,812 shares of the company’s stock worth $921,000 after buying an additional 40,850 shares in the last quarter. Commodore Capital LP lifted its holdings in shares of Tyra Biosciences by 8.9% in the third quarter. Commodore Capital LP now owns 3,375,000 shares of the company’s stock worth $47,216,000 after buying an additional 275,000 shares in the last quarter. Boothbay Fund Management LLC bought a new position in shares of Tyra Biosciences during the third quarter worth $2,612,000. Finally, Ameriprise Financial Inc. grew its stake in Tyra Biosciences by 8.1% during the third quarter. Ameriprise Financial Inc. now owns 87,107 shares of the company’s stock valued at $1,219,000 after acquiring an additional 6,505 shares in the last quarter. Hedge funds and other 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.