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

Tyra Biosciences, Inc. (NASDAQ:TYRA)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $36.20 and last traded at $35.8320, with a volume of 639560 shares trading hands. The stock had previously closed at $34.74.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TYRA. Barclays began coverage on Tyra Biosciences in a research report on Tuesday, January 27th. They issued an “overweight” rating for the company. Wedbush boosted their price target on Tyra Biosciences from $37.00 to $53.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. Cantor Fitzgerald started coverage on shares of Tyra Biosciences in a research report on Tuesday, February 24th. They set an “overweight” rating on the stock. HC Wainwright increased their target price on shares of Tyra Biosciences from $30.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Finally, Piper Sandler increased their price objective on shares of Tyra Biosciences from $33.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $42.33.

Tyra Biosciences Trading Up 4.4%

The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of -17.98 and a beta of 1.06. The stock has a 50-day simple moving average of $30.61 and a 200 day simple moving average of $21.59.

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

Insiders Place Their Bets

In related news, Director Robert J. More sold 10,000 shares of the company’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $25.00, for a total transaction of $250,000.00. Following the completion of the transaction, the director directly owned 3,823,425 shares in the company, valued at $95,585,625. This represents a 0.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 15.20% of the stock is currently owned by insiders.

Institutional Trading of Tyra Biosciences

Several institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. grew its position in Tyra Biosciences by 25.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,594 shares of the company’s stock worth $68,000 after acquiring an additional 534 shares during the last quarter. AQR Capital Management LLC increased 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 valued at $753,000 after purchasing an additional 562 shares during the last quarter. MetLife Investment Management LLC boosted its stake in Tyra Biosciences by 5.0% during the 4th 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 boosted its position in shares of Tyra Biosciences by 6.7% during the fourth quarter. Virtus Investment Advisers LLC now owns 11,756 shares of the company’s stock worth $309,000 after purchasing an additional 741 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in Tyra Biosciences by 5.8% in the fourth quarter. Deutsche Bank AG now owns 16,377 shares of the company’s stock valued at $431,000 after acquiring an additional 894 shares during the period. Institutional investors and hedge funds 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.