Tyra Biosciences (NASDAQ:TYRA) Sets New 52-Week High After Analyst Upgrade

Tyra Biosciences, Inc. (NASDAQ:TYRA) hit a new 52-week high on Thursday after Oppenheimer raised their price target on the stock from $25.00 to $33.00. Oppenheimer currently has an outperform rating on the stock. Tyra Biosciences traded as high as $24.94 and last traded at $23.98, with a volume of 30912 shares. The stock had previously closed at $23.20.

A number of other equities analysts also recently commented on the stock. Wedbush restated an “outperform” rating and issued a $28.00 target price on shares of Tyra Biosciences in a research note on Thursday, August 8th. Piper Sandler initiated coverage on Tyra Biosciences in a report on Thursday, August 15th. They issued an “overweight” rating and a $33.00 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Tyra Biosciences in a research note on Wednesday, July 3rd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tyra Biosciences has an average rating of “Moderate Buy” and an average target price of $26.40.

Institutional Trading of Tyra Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of TYRA. HighVista Strategies LLC bought a new position in shares of Tyra Biosciences in the 2nd quarter worth $257,000. Rhumbline Advisers raised its holdings in Tyra Biosciences by 12.3% in the second quarter. Rhumbline Advisers now owns 23,572 shares of the company’s stock worth $377,000 after purchasing an additional 2,574 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Tyra Biosciences by 53.4% during the fourth quarter. Victory Capital Management Inc. now owns 50,220 shares of the company’s stock valued at $696,000 after buying an additional 17,490 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Tyra Biosciences by 32.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 58,087 shares of the company’s stock valued at $929,000 after buying an additional 14,352 shares in the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of Tyra Biosciences in the 1st quarter worth approximately $977,000. Institutional investors own 84.14% of the company’s stock.

Tyra Biosciences Stock Performance

The stock has a market cap of $1.27 billion, a P/E ratio of -13.81 and a beta of 1.01. The firm’s 50 day moving average is $21.10 and its 200 day moving average is $18.66.

Tyra Biosciences (NASDAQ:TYRA) last released its earnings results on Wednesday, August 7th. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.09. As a group, analysts expect that Tyra Biosciences, Inc. will post -1.53 EPS for the current fiscal year.

About Tyra Biosciences

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.