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

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) reached a new 52-week high during trading on Thursday . The stock traded as high as $26.34 and last traded at $26.04, with a volume of 200242 shares changing hands. The stock had previously closed at $25.83.

Analyst Ratings Changes

Several research analysts recently weighed in on TYRA shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tyra Biosciences in a research report on Wednesday, October 8th. Raymond James Financial assumed coverage on Tyra Biosciences in a research note on Tuesday, September 2nd. They issued a “strong-buy” rating and a $35.00 price target on the stock. Oppenheimer reissued an “outperform” rating and set a $36.00 price objective on shares of Tyra Biosciences in a research report on Wednesday, September 10th. Wall Street Zen upgraded shares of Tyra Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Finally, Wedbush increased their target price on shares of Tyra Biosciences from $30.00 to $37.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Tyra Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.17.

Tyra Biosciences Stock Performance

The company has a 50 day moving average of $18.85 and a 200-day moving average of $14.01. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -13.93 and a beta of 1.09.

Tyra Biosciences (NASDAQ:TYRA) last released its earnings results on Wednesday, November 5th. The company reported ($0.50) earnings per share for the quarter, meeting the consensus estimate of ($0.50). On average, research analysts anticipate that Tyra Biosciences, Inc. will post -1.57 EPS for the current year.

Insider Activity at Tyra Biosciences

In related news, Director Robert J. More sold 246,871 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $20.25, for a total transaction of $4,999,137.75. Following the sale, the director directly owned 3,833,425 shares of the company’s stock, valued at $77,626,856.25. This represents a 6.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 15.20% of the company’s stock.

Hedge Funds Weigh In On Tyra Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Commodore Capital LP grew its stake in shares of Tyra Biosciences by 226.3% in the second quarter. Commodore Capital LP now owns 3,100,000 shares of the company’s stock worth $29,667,000 after acquiring an additional 2,150,000 shares in the last quarter. Vestal Point Capital LP boosted its holdings in Tyra Biosciences by 190.9% in the first quarter. Vestal Point Capital LP now owns 2,879,829 shares of the company’s stock valued at $26,782,000 after purchasing an additional 1,889,829 shares during the period. Caligan Partners LP grew its stake in Tyra Biosciences by 266.8% during the 3rd quarter. Caligan Partners LP now owns 696,825 shares of the company’s stock worth $9,749,000 after purchasing an additional 506,875 shares in the last quarter. Sio Capital Management LLC increased its holdings in Tyra Biosciences by 94.5% during the 2nd quarter. Sio Capital Management LLC now owns 810,274 shares of the company’s stock worth $7,754,000 after purchasing an additional 393,657 shares during the period. Finally, Balyasny Asset Management L.P. raised its position in Tyra Biosciences by 139.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 583,386 shares of the company’s stock valued at $5,583,000 after purchasing an additional 340,142 shares in 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.