Tyra Biosciences (NASDAQ:TYRA) Shares Gap Up After Insider Buying Activity

Tyra Biosciences, Inc. (NASDAQ:TYRA)’s stock price gapped up prior to trading on Monday following insider buying activity. The stock had previously closed at $16.39, but opened at $17.08. Tyra Biosciences shares last traded at $16.43, with a volume of 25,422 shares traded.

Specifically, CFO Alan Fuhrman purchased 9,500 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was bought at an average cost of $16.00 per share, for a total transaction of $152,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 12,849 shares in the company, valued at $205,584. This represents a 200.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. HC Wainwright boosted their price target on Tyra Biosciences from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Bank of America raised Tyra Biosciences from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $22.00 to $31.00 in a report on Friday, October 18th. Piper Sandler began coverage on Tyra Biosciences in a report on Thursday, August 15th. They issued an “overweight” rating and a $33.00 target price for the company. Oppenheimer boosted their price target on Tyra Biosciences from $25.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Finally, Wedbush reiterated an “outperform” rating and set a $28.00 price objective on shares of Tyra Biosciences in a research note on Friday, October 25th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $31.40.

Tyra Biosciences Stock Performance

The company’s 50-day moving average is $22.28 and its 200-day moving average is $19.97. The firm has a market cap of $867.07 million, a price-to-earnings ratio of -9.72 and a beta of 1.08.

Tyra Biosciences (NASDAQ:TYRA) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.09. On average, analysts predict that Tyra Biosciences, Inc. will post -1.53 EPS for the current year.

Institutional Trading of Tyra Biosciences

A number of institutional investors have recently bought and sold shares of TYRA. Oppenheimer & Co. Inc. acquired a new stake in shares of Tyra Biosciences during the first quarter worth $977,000. Vanguard Group Inc. boosted its holdings in Tyra Biosciences by 18.6% during the first quarter. Vanguard Group Inc. now owns 899,800 shares of the company’s stock worth $14,757,000 after buying an additional 140,833 shares during the last quarter. American Century Companies Inc. grew its position in shares of Tyra Biosciences by 582.9% during the 2nd quarter. American Century Companies Inc. now owns 170,283 shares of the company’s stock worth $2,723,000 after buying an additional 145,346 shares during the period. Perceptive Advisors LLC increased its stake in shares of Tyra Biosciences by 50.5% in the 2nd quarter. Perceptive Advisors LLC now owns 1,007,367 shares of the company’s stock valued at $16,108,000 after acquiring an additional 338,208 shares during the last quarter. Finally, Ensign Peak Advisors Inc acquired a new stake in shares of Tyra Biosciences in the 2nd quarter valued at approximately $3,047,000. Institutional investors and hedge funds own 84.14% of the company’s stock.

Tyra Biosciences Company Profile

Tyra Biosciences, Inc, a clinical-stage biotechnology company, develops precision medicines for fibroblast growth factor receptor (FGFR) biology in the United States. The company offers SNÅP, a precision medicine platform that enables drug design through iterative molecular snapshots to predict genetic alterations for developing therapies targeting oncology and genetically defined conditions.