Tyra Biosciences (NASDAQ:TYRA) Reaches New 1-Year High – Should You Buy?

Tyra Biosciences, Inc. (NASDAQ:TYRA) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $26.34 and last traded at $26.04, with a volume of 200242 shares changing hands. The stock had previously closed at $25.83.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TYRA shares. Raymond James Financial initiated coverage on shares of Tyra Biosciences in a research note on Tuesday, September 2nd. They set a “strong-buy” rating and a $35.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Tyra Biosciences in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Tyra Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Wedbush boosted their target price on shares of Tyra Biosciences from $30.00 to $37.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 16th. Finally, Oppenheimer reissued an “outperform” rating and issued a $36.00 target price on shares of Tyra Biosciences in a report on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.17.

Tyra Biosciences Trading Up 0.8%

The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -13.93 and a beta of 1.09. The company’s 50 day moving average is $18.85 and its 200 day moving average is $14.01.

Tyra Biosciences (NASDAQ:TYRA) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.50) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.50). Analysts anticipate that Tyra Biosciences, Inc. will post -1.57 EPS for the current fiscal year.

Insider Activity

In related news, Director Robert J. More sold 10,000 shares of the firm’s stock in a transaction that occurred 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 owned 3,823,425 shares in the company, valued at $95,585,625. This trade represents a 0.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 15.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tyra Biosciences

Several large investors have recently modified their holdings of TYRA. Jacobs Levy Equity Management Inc. grew its holdings in shares of Tyra Biosciences by 23.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 301,801 shares of the company’s stock worth $2,807,000 after buying an additional 57,556 shares during the last quarter. Polar Asset Management Partners Inc. raised its stake in Tyra Biosciences by 27.1% during the 1st quarter. Polar Asset Management Partners Inc. now owns 141,241 shares of the company’s stock valued at $1,314,000 after acquiring an additional 30,134 shares during the last quarter. Nuveen LLC acquired a new stake in Tyra Biosciences during the 1st quarter worth approximately $465,000. Corton Capital Inc. purchased a new position in shares of Tyra Biosciences in the 2nd quarter valued at approximately $233,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Tyra Biosciences in the second quarter valued at approximately $326,000. 84.14% of the stock is owned by institutional investors and hedge funds.

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.