Tyra Biosciences (NASDAQ:TYRA) Reaches New 12-Month High – Still a Buy?

Tyra Biosciences, Inc. (NASDAQ:TYRA) shares hit a new 52-week high during trading on Thursday . The company traded as high as $34.50 and last traded at $30.5570, with a volume of 30897 shares. The stock had previously closed at $30.00.

Analyst Ratings Changes

A number of research firms have recently weighed in on TYRA. Jefferies Financial Group raised their target price on Tyra Biosciences from $32.00 to $43.00 and gave the company a “buy” rating in a report on Tuesday, February 3rd. Wall Street Zen downgraded shares of Tyra Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, January 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tyra Biosciences in a report on Wednesday, January 21st. William Blair started coverage on shares of Tyra Biosciences in a report on Tuesday. They set an “outperform” rating on the stock. Finally, Barclays began coverage on shares of Tyra Biosciences in a research note on Tuesday, January 27th. They issued an “overweight” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tyra Biosciences has an average rating of “Moderate Buy” and a consensus target price of $39.83.

Tyra Biosciences Price Performance

The firm has a market cap of $1.49 billion, a PE ratio of -14.97 and a beta of 1.07. The business’s fifty day moving average is $27.66 and its 200-day moving average is $18.86.

Insider Activity at Tyra Biosciences

In related news, Director Robert J. More sold 10,000 shares of the company’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 value of $250,000.00. Following the transaction, the director owned 3,823,425 shares in the company, valued at approximately $95,585,625. This represents a 0.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 15.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TYRA. Marshall Wace LLP increased its holdings in Tyra Biosciences by 18.3% in the 4th quarter. Marshall Wace LLP now owns 711,891 shares of the company’s stock worth $18,716,000 after acquiring an additional 109,876 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Tyra Biosciences in the fourth quarter valued at approximately $220,000. Kalehua Capital Management LLC purchased a new stake in shares of Tyra Biosciences during the 4th quarter valued at approximately $1,958,000. Bank of Nova Scotia bought a new position in Tyra Biosciences in the 4th quarter worth approximately $292,000. Finally, Rafferty Asset Management LLC purchased a new position in Tyra Biosciences in the 4th quarter valued at approximately $406,000. Hedge funds and other institutional investors own 84.14% of the company’s stock.

Tyra Biosciences Company Profile

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.