Tyra Biosciences (NASDAQ:TYRA) is seeing unusually high trading volume

VaselineAugust 26, 2024

0 3 minutes read

Tyra Biosciences, Inc. (NASDAQ:TYRA – Get Your Free Report ) saw unusually strong trading volume on Thursday. About 208,267 shares changed hands in mid-day trading, up 43% from the previous session’s volume of 145,686 shares. The stock last traded at $22.68 and previously closed at $22.68.

Analyst upgrades and downgrades

Several equities research analysts have commented on TYRA shares. HC Wainwright restated a “buy” rating and issued a $23.00 price objective on shares of Tyra Biosciences in a research report on Wednesday, July 3rd. Piper Sandler started coverage on Tyra Biosciences in a research report on Thursday, August 15th. They issued an “overweight” rating and a $33.00 price objective on the stock. Wedbush restated an “outperform” rating and issued a $28.00 price objective on shares of Tyra Biosciences in a research report on Thursday, August 8th. Finally, Oppenheimer cut their price objective on Tyra Biosciences from $28.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat , Tyra Biosciences has an average rating of “Moderate Buy” and an average target price of $24.80.

Get the latest research report on TYRA

Tyra Biosciences trading rose 1.3%

Want more great investment ideas?

The stock has a market cap of $1.16 billion, a PE ratio of -13.13 and a beta of 1.02. The company has a 50-day moving average price of $19.47 and a 200-day moving average price of $18.36.

Tyra Biosciences (NASDAQ:TYRA – Get Free Report ) last announced its earnings results on Wednesday, August 7th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.09. Equities analysts expect that Tyra Biosciences, Inc. to post -1.53 earnings per share for the current year.

Indoor activity

In other news, COO Daniel Bensen sold 3,502 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $20.00, for a total transaction of $70,040.00. Following the transaction, the chief operating officer now owns 427,981 shares in the company, valued at approximately $8,559,620. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 15.40% of the company’s shares.

Institutional inputs and outputs

Several hedge funds have recently added to or reduced their stakes in the company. RA Capital Management LP boosted its stake in Tyra Biosciences by 43.9% in the first quarter. RA Capital Management LP now owns 10,416,609 shares of the company’s stock valued at $170,832,000 after purchasing an additional 3,180,155 shares during the last quarter. BVF Inc. IL boosted its stake in Tyra Biosciences by 70.1% in the first quarter. BVF Inc. IL now owns 4,661,194 shares of the company’s stock valued at $76,444,000 after buying an additional 1,921,599 shares during the last quarter. Perceptive Advisors LLC boosted its stake in Tyra Biosciences by 50.5% in the second quarter. Perceptive Advisors LLC now owns 1,007,367 shares of the company’s stock valued at $16,108,000 after purchasing an additional 338,208 shares during the last quarter. Vanguard Group Inc. boosted its stake in Tyra Biosciences by 18.6% in the first quarter. Vanguard Group Inc. now owns 899,800 shares of the company’s stock valued at $14,757,000 after purchasing an additional 140,833 shares during the last quarter. Finally, Kynam Capital Management LP boosted its stake in Tyra Biosciences by 51.4% in the first quarter. Kynam Capital Management LP now owns 515,190 shares of the company’s stock valued at $8,449,000 after buying an additional 175,000 shares in the last quarter. 84.14% of shares are owned by institutional investors and hedge funds.

Tyra Biosciences Company Profile

(Get a free report)

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