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

Tyra Biosciences, Inc. (NASDAQ:TYRA) hit a new 52-week high on Wednesday . The stock traded as high as $26.35 and last traded at $26.2750, with a volume of 125611 shares traded. The stock had previously closed at $25.44.

Analyst Ratings Changes

A number of equities analysts have recently commented on TYRA shares. Wall Street Zen cut Tyra Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, December 27th. Oppenheimer reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Tyra Biosciences in a research note on Wednesday, September 10th. Wedbush increased their target price on shares of Tyra Biosciences from $30.00 to $37.00 and gave the company an “outperform” rating in a research note on Tuesday, December 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tyra Biosciences in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tyra Biosciences has an average rating of “Moderate Buy” and a consensus target price of $33.17.

Tyra Biosciences Stock Up 3.3%

The firm has a market cap of $1.40 billion, a PE ratio of -14.06 and a beta of 1.07. The business has a 50 day simple moving average of $20.21 and a two-hundred day simple moving average of $14.64.

Tyra Biosciences (NASDAQ:TYRA) last issued its earnings results on Wednesday, November 5th. The company reported ($0.50) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.50). Equities analysts forecast that Tyra Biosciences, Inc. will post -1.57 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Robert J. More sold 246,871 shares of the firm’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 transaction, the director directly owned 3,833,425 shares of the company’s stock, valued at approximately $77,626,856.25. This trade represents a 6.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 15.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Federated Hermes Inc. increased 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 purchasing an additional 1,841 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 during the period. SG Americas Securities LLC bought a new stake in shares of Tyra Biosciences in the third quarter valued at about $133,000. Public Employees Retirement System of Ohio purchased a new stake in Tyra Biosciences in the second quarter worth about $177,000. Finally, Russell Investments Group Ltd. lifted its stake in Tyra Biosciences by 27.7% in the third quarter. Russell Investments Group Ltd. now owns 12,741 shares of the company’s stock worth $178,000 after acquiring an additional 2,766 shares during the period. 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.