Tyra Biosciences (NASDAQ:TYRA) Sets New 1-Year High – Here’s Why

Tyra Biosciences, Inc. (NASDAQ:TYRA)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $35.96 and last traded at $35.27, with a volume of 6161094 shares trading hands. The stock had previously closed at $33.01.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TYRA. Wall Street Zen cut shares of Tyra Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, January 24th. Jefferies Financial Group increased their target price on shares of Tyra Biosciences from $32.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, February 3rd. William Blair began coverage on shares of Tyra Biosciences in a research note on Tuesday, February 10th. They issued an “outperform” rating on the stock. Cantor Fitzgerald initiated coverage on shares of Tyra Biosciences in a research report on Tuesday, February 24th. They set an “overweight” rating on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tyra Biosciences in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.33.

Tyra Biosciences Stock Performance

The company has a market capitalization of $1.90 billion, a P/E ratio of -17.55 and a beta of 1.06. The stock’s fifty day moving average price is $29.90 and its 200-day moving average price is $20.86.

Tyra Biosciences (NASDAQ:TYRA) last posted its quarterly earnings results on Monday, March 2nd. The company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.03). On average, research analysts predict that Tyra Biosciences, Inc. will post -1.57 EPS for the current fiscal year.

Insider Buying and Selling at Tyra Biosciences

In related news, Director Robert J. More sold 10,000 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $25.00, for a total value of $250,000.00. Following the sale, the director owned 3,823,425 shares in the company, valued at approximately $95,585,625. This represents a 0.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 15.20% of the company’s stock.

Institutional Trading of Tyra Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Commodore Capital LP lifted its position in Tyra Biosciences by 8.9% during the third quarter. Commodore Capital LP now owns 3,375,000 shares of the company’s stock worth $47,216,000 after acquiring an additional 275,000 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Tyra Biosciences by 2.1% during the fourth quarter. Janus Henderson Group PLC now owns 2,935,442 shares of the company’s stock worth $77,085,000 after purchasing an additional 60,638 shares during the period. Farallon Capital Management LLC lifted its holdings in Tyra Biosciences by 80.7% during the 4th quarter. Farallon Capital Management LLC now owns 2,066,818 shares of the company’s stock worth $54,337,000 after purchasing an additional 923,000 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Tyra Biosciences by 8.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,520,185 shares of the company’s stock worth $21,267,000 after purchasing an additional 118,492 shares during the last quarter. Finally, 5AM Venture Management LLC boosted its stake in Tyra Biosciences by 9.6% in the 4th quarter. 5AM Venture Management LLC now owns 1,029,298 shares of the company’s stock valued at $27,060,000 after purchasing an additional 90,000 shares during the period. 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.