Tyra Biosciences (NASDAQ:TYRA) Sets New 1-Year High – Still a Buy?

Tyra Biosciences, Inc. (NASDAQ:TYRA)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $34.01 and last traded at $33.3050, with a volume of 47032 shares changing hands. The stock had previously closed at $33.30.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on TYRA shares. Jefferies Financial Group lifted their price target on shares of Tyra Biosciences from $32.00 to $43.00 and gave the stock a “buy” rating in a research report on Tuesday, February 3rd. Barclays initiated coverage on Tyra Biosciences in a report on Tuesday, January 27th. They set an “overweight” rating on the stock. William Blair assumed coverage on Tyra Biosciences in a report on Tuesday, February 10th. They issued an “outperform” rating for the company. Cantor Fitzgerald initiated coverage on Tyra Biosciences in a report on Tuesday. They set an “overweight” rating on the stock. Finally, Piper Sandler boosted their price objective on Tyra Biosciences from $33.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Tyra Biosciences has a consensus rating of “Moderate Buy” and an average target price of $42.33.

Tyra Biosciences Price Performance

The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of -17.19 and a beta of 1.07. The firm has a 50-day moving average price of $29.07 and a two-hundred day moving average price of $20.06.

Insiders Place Their Bets

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

Institutional Trading of Tyra Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of TYRA. Invesco Ltd. grew its stake in Tyra Biosciences by 734.5% in the fourth quarter. Invesco Ltd. now owns 129,435 shares of the company’s stock valued at $3,403,000 after purchasing an additional 113,925 shares in the last quarter. VARCOV Co. bought a new stake in shares of Tyra Biosciences during the 4th quarter worth approximately $255,000. Virtus Investment Advisers LLC boosted its holdings in shares of Tyra Biosciences by 6.7% in the 4th quarter. Virtus Investment Advisers LLC now owns 11,756 shares of the company’s stock valued at $309,000 after buying an additional 741 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Tyra Biosciences by 25.9% in the fourth quarter. Wellington Management Group LLP now owns 104,305 shares of the company’s stock valued at $2,742,000 after buying an additional 21,434 shares in the last quarter. Finally, Superstring Capital Management LP acquired a new position in Tyra Biosciences during the fourth quarter worth $1,543,000. 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.