Tyra Biosciences (NASDAQ:TYRA) Reaches New 1-Year High – What’s Next?

Tyra Biosciences, Inc. (NASDAQ:TYRA) shares reached a new 52-week high on Wednesday . The company traded as high as $40.65 and last traded at $39.59, with a volume of 85393 shares traded. The stock had previously closed at $38.30.

Analysts Set New Price Targets

TYRA has been the subject of a number of analyst reports. William Blair assumed coverage on Tyra Biosciences in a research note on Tuesday, February 10th. They set an “outperform” rating for the company. Barclays began coverage on Tyra Biosciences in a research note on Tuesday, January 27th. They issued an “overweight” rating for the company. Wedbush raised their target price on Tyra Biosciences from $37.00 to $53.00 and gave the company an “outperform” rating in a report on Friday, February 13th. Cantor Fitzgerald began coverage on Tyra Biosciences in a report on Tuesday, February 24th. They set an “overweight” rating for the company. Finally, HC Wainwright increased their price target on Tyra Biosciences from $30.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $44.67.

Tyra Biosciences Stock Up 2.9%

The company has a market capitalization of $2.12 billion, a P/E ratio of -19.62 and a beta of 1.06. The business’s 50-day moving average is $33.19 and its two-hundred day moving average is $24.19.

Tyra Biosciences (NASDAQ:TYRA) last issued its quarterly earnings data 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). Analysts predict that Tyra Biosciences, Inc. will post -1.57 EPS for the current year.

Insider Activity

In other news, Director Gilla Kaplan sold 14,295 shares of the company’s stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $36.97, for a total value of $528,486.15. Following the completion of the transaction, the director directly owned 28,231 shares of the company’s stock, valued at $1,043,700.07. This represents a 33.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 15.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Federated Hermes Inc. grew its stake in Tyra Biosciences by 586.3% in 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 bought a new stake in shares of Tyra Biosciences during the 4th quarter worth $51,000. Chung Wu Investment Group LLC bought a new stake in shares of Tyra Biosciences during the 4th quarter worth $53,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of 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 buying an additional 534 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Tyra Biosciences by 14.5% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,182 shares of the company’s stock worth $126,000 after buying an additional 1,668 shares during the last quarter. 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.