Tyra Biosciences (NASDAQ:TYRA) Shares Gap Up After Strong 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.

The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.05.

Analysts Set New Price Targets

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

Insider Transactions at Tyra Biosciences

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

Hedge Funds Weigh In On Tyra Biosciences

Large investors have recently modified their holdings of the stock. Wellington Management Group LLP boosted its holdings in shares of Tyra Biosciences by 4.4% during the 4th quarter. Wellington Management Group LLP now owns 94,859 shares of the company’s stock worth $1,319,000 after buying an additional 4,034 shares during the period. Polar Asset Management Partners Inc. boosted its holdings in shares of Tyra Biosciences by 26.1% during the fourth quarter. Polar Asset Management Partners Inc. now owns 111,107 shares of the company’s stock worth $1,544,000 after acquiring an additional 23,007 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Tyra Biosciences by 41.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 35,635 shares of the company’s stock valued at $495,000 after purchasing an additional 10,426 shares during the last quarter. Vestal Point Capital LP bought a new position in shares of Tyra Biosciences during the fourth quarter worth approximately $13,761,000. Finally, Squarepoint Ops LLC acquired a new stake in Tyra Biosciences during the 4th quarter worth approximately $253,000. 84.14% of the stock is owned by institutional investors.

Tyra Biosciences Stock Performance

The company has a fifty day moving average of $12.46 and a two-hundred day moving average of $16.33. The firm has a market capitalization of $494.39 million, a price-to-earnings ratio of -6.07 and a beta of 1.09.

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.