Tyra Biosciences (NASDAQ:TYRA) Shares Gap Up After Better-Than-Expected Earnings

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $9.66, but opened at $10.50. Tyra Biosciences shares last traded at $9.93, with a volume of 29,153 shares trading hands.

The company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.05.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wedbush restated an “outperform” rating and issued a $30.00 price target on shares of Tyra Biosciences in a report on Friday. UBS Group began coverage on shares of Tyra Biosciences in a research report on Tuesday, January 7th. They set a “buy” rating and a $28.00 target price on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Tyra Biosciences in a report on Tuesday, February 18th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Tyra Biosciences currently has an average rating of “Buy” and an average target price of $30.83.

Insider Transactions at Tyra Biosciences

In related news, Director Nina S. Kjellson sold 5,401 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $13.76, for a total transaction of $74,317.76. Following the transaction, the director now directly owns 443,885 shares in the company, valued at $6,107,857.60. This trade represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 21,998 shares of company stock worth $344,818. 15.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Tyra Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of the business. Alta Partners Management Company L.P. bought a new position in shares of Tyra Biosciences during the fourth quarter valued at approximately $56,716,000. Boxer Capital Management LLC bought a new position in Tyra Biosciences in the 4th quarter worth about $28,185,000. Janus Henderson Group PLC acquired a new stake in shares of Tyra Biosciences in the third quarter valued at approximately $24,994,000. Farallon Capital Management LLC bought a new stake in shares of Tyra Biosciences during the fourth quarter valued at approximately $13,914,000. Finally, Vestal Point Capital LP bought a new position in Tyra Biosciences in the 4th quarter worth approximately $13,761,000. 84.14% of the stock is owned by institutional investors and hedge funds.

Tyra Biosciences Stock Performance

The stock has a market cap of $494.39 million, a P/E ratio of -6.07 and a beta of 1.09. The firm has a 50 day simple moving average of $12.46 and a two-hundred day simple moving average of $16.36.

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.