Tyra Biosciences (NASDAQ:TYRA) Sets New 52-Week High – Here’s What Happened

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) reached a new 52-week high during trading on Tuesday . The company traded as high as $37.84 and last traded at $37.01, with a volume of 575139 shares traded. The stock had previously closed at $36.22.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tyra Biosciences in a report on Wednesday, January 21st. Cantor Fitzgerald started coverage on Tyra Biosciences in a report on Tuesday, February 24th. They set an “overweight” rating on the stock. Barclays started coverage on Tyra Biosciences in a research report on Tuesday, January 27th. They issued an “overweight” rating for the company. Jefferies Financial Group increased their price target on Tyra Biosciences from $32.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, February 3rd. Finally, Wall Street Zen downgraded Tyra Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, January 24th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.33.

Tyra Biosciences Trading Up 2.2%

The stock has a 50-day moving average of $31.41 and a two-hundred day moving average of $22.27. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of -18.41 and a beta of 1.06.

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

Insider Activity

In other news, Director Robert J. More sold 10,000 shares of the business’s stock in a transaction that occurred 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 sale, the director owned 3,823,425 shares in the company, valued at $95,585,625. The trade was a 0.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tyra Biosciences

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

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.