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

Tyra Biosciences, Inc. (NASDAQ:TYRA) shares 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 bought 9,500 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were purchased at an average cost of $16.00 per share, for a total transaction of $152,000.00. Following the acquisition, the chief financial officer now owns 12,849 shares of the company’s stock, valued at approximately $205,584. This represents a 200.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Wall Street Analysts Forecast Growth

TYRA has been the subject of several recent research reports. Wedbush reaffirmed an “outperform” rating and set a $28.00 price objective on shares of Tyra Biosciences in a research report on Friday, October 25th. HC Wainwright upped their price target on Tyra Biosciences from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Oppenheimer boosted their price objective on shares of Tyra Biosciences from $25.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. Bank of America raised shares of Tyra Biosciences from a “neutral” rating to a “buy” rating and raised their target price for the company from $22.00 to $31.00 in a research report on Friday, October 18th. Finally, Piper Sandler initiated coverage on shares of Tyra Biosciences in a research report on Thursday, August 15th. They set an “overweight” rating and a $33.00 price target on the stock. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $31.40.

Tyra Biosciences Trading Up 0.2 %

The company has a market capitalization of $867.07 million, a P/E ratio of -9.72 and a beta of 1.08. The company has a 50 day moving average price of $22.28 and a 200 day moving average price of $19.97.

Tyra Biosciences (NASDAQ:TYRA) last released its quarterly earnings data 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, sell-side analysts forecast that Tyra Biosciences, Inc. will post -1.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. HighVista Strategies LLC acquired a new position in Tyra Biosciences in the 2nd quarter valued at $257,000. SG Americas Securities LLC bought a new position in Tyra Biosciences during the third quarter worth about $311,000. Rhumbline Advisers raised its stake in Tyra Biosciences by 12.3% in the 2nd 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. Bank of New York Mellon Corp boosted its holdings in 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 purchasing an additional 14,352 shares during the period. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Tyra Biosciences during the first quarter worth approximately $977,000. 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.