Tyra Biosciences (NASDAQ:TYRA) Hits New 1-Year High – Should You Buy?

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TYRA. Wall Street Zen downgraded Tyra Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, January 24th. 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 research note on Tuesday, February 3rd. William Blair initiated coverage on Tyra Biosciences in a report on Tuesday, February 10th. They issued an “outperform” rating for the company. Wedbush increased their price objective on shares of Tyra Biosciences from $37.00 to $53.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Finally, HC Wainwright raised their price objective on shares of Tyra Biosciences from $30.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. One investment 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.33.

Tyra Biosciences Stock Performance

The firm’s 50-day simple moving average is $31.00 and its 200 day simple moving average is $21.80. The company has a market cap of $1.95 billion, a P/E ratio of -18.02 and a beta of 1.06.

Tyra Biosciences (NASDAQ:TYRA) last issued its earnings results on Monday, March 2nd. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.03). As a group, research analysts forecast that Tyra Biosciences, Inc. will post -1.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Robert J. More sold 10,000 shares of the business’s 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 completion of the transaction, the director owned 3,823,425 shares of the company’s stock, valued at $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 available at this hyperlink. Company insiders own 15.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Federated Hermes Inc. raised its holdings in Tyra Biosciences by 586.3% during the 3rd quarter. Federated Hermes Inc. now owns 2,155 shares of the company’s stock worth $30,000 after buying an additional 1,841 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Tyra Biosciences during the fourth quarter worth $51,000. Chung Wu Investment Group LLC bought a new stake in Tyra Biosciences in the 4th quarter valued at $53,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Tyra Biosciences by 25.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,594 shares of the company’s stock worth $68,000 after purchasing an additional 534 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Tyra Biosciences by 14.5% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,182 shares of the company’s stock worth $126,000 after purchasing an additional 1,668 shares in the last quarter. 84.14% of the stock is owned by institutional investors and hedge funds.

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.