Tyra Biosciences (NASDAQ:TYRA) Trading 5% Higher – Time to Buy?

Tyra Biosciences, Inc. (NASDAQ:TYRA) rose 5% on Friday . The stock traded as high as $33.12 and last traded at $33.18. 130,578 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 942,716 shares. The stock had previously closed at $31.61.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TYRA shares. Guggenheim started coverage on Tyra Biosciences in a research report on Tuesday, April 14th. They issued a “buy” rating and a $54.00 price objective on the stock. JonesTrading began coverage on Tyra Biosciences in a report on Wednesday, June 17th. They set a “buy” rating and a $56.00 target price for the company. Canaccord Genuity Group began coverage on Tyra Biosciences in a research note on Monday, April 6th. They issued a “buy” rating and a $50.00 price target for the company. Wolfe Research assumed coverage on shares of Tyra Biosciences in a report on Tuesday, May 19th. They issued a “peer perform” rating on the stock. Finally, Bank of America lifted their price target 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. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.00.

Tyra Biosciences Stock Up 1.6%

The company’s fifty day simple moving average is $31.16 and its 200 day simple moving average is $32.38. The firm has a market capitalization of $1.91 billion, a PE ratio of -14.74 and a beta of 0.76.

Tyra Biosciences (NASDAQ:TYRA) last posted its earnings results on Wednesday, May 13th. The company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.04). Equities research analysts forecast that Tyra Biosciences, Inc. will post -2.68 EPS for the current year.

Institutional Investors Weigh In On Tyra Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TYRA. Mirae Asset Global Investments Co. Ltd. raised its stake in Tyra Biosciences by 25.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,594 shares of the company’s stock valued at $68,000 after buying an additional 534 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Tyra Biosciences by 2.0% in the fourth quarter. AQR Capital Management LLC now owns 28,631 shares of the company’s stock worth $753,000 after acquiring an additional 562 shares in the last quarter. MetLife Investment Management LLC grew its stake in shares of Tyra Biosciences by 5.0% in the fourth quarter. MetLife Investment Management LLC now owns 15,356 shares of the company’s stock worth $404,000 after acquiring an additional 725 shares during the last quarter. Virtus Investment Advisers LLC grew its stake in shares of Tyra Biosciences by 6.7% in the fourth quarter. Virtus Investment Advisers LLC now owns 11,756 shares of the company’s stock worth $309,000 after acquiring an additional 741 shares during the last quarter. Finally, Hilton Head Capital Partners LLC purchased a new stake in shares of Tyra Biosciences in the first quarter worth $30,000. 84.14% of the stock is owned by hedge funds and other institutional investors.

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.