HC Wainwright Issues Pessimistic Forecast for Tyra Biosciences (NASDAQ:TYRA) Stock Price

Tyra Biosciences (NASDAQ:TYRA) had its price objective lowered by stock analysts at HC Wainwright from $30.00 to $29.00 in a report issued on Tuesday, MarketBeat reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 24.84% from the company’s previous close.

Several other brokerages also recently commented on TYRA. Piper Sandler restated an “overweight” rating and set a $56.00 price objective on shares of Tyra Biosciences in a research report on Tuesday, September 8th. Bank of America raised their target price on Tyra Biosciences from $37.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tyra Biosciences in a research note on Friday, July 17th. Jefferies Financial Group reissued a “buy” rating and set a $42.00 price target on shares of Tyra Biosciences in a report on Wednesday, August 5th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Tyra Biosciences in a research report on Thursday, September 10th. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $46.89.

Tyra Biosciences Stock Down 9.2%

Shares of Tyra Biosciences stock opened at $23.23 on Tuesday. Tyra Biosciences has a 12-month low of $12.40 and a 12-month high of $40.65. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of -9.68 and a beta of 0.73. The firm’s 50-day moving average price is $27.19 and its two-hundred day moving average price is $31.33.

Tyra Biosciences (NASDAQ:TYRA) last issued its earnings results on Tuesday, August 4th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.65) by ($0.04). On average, sell-side analysts expect that Tyra Biosciences will post -2.73 earnings per share for the current year.

Hedge Funds Weigh In On Tyra Biosciences

Several large investors have recently bought and sold shares of TYRA. Tidal Investments LLC bought a new position in Tyra Biosciences in the second quarter valued at about $943,000. WINTON GROUP Ltd bought a new position in Tyra Biosciences in the 2nd quarter valued at approximately $537,000. Engineers Gate Manager LP bought a new position in Tyra Biosciences in the 2nd quarter valued at approximately $1,021,000. Squarepoint Ops LLC boosted its position in Tyra Biosciences by 211.3% during the 2nd quarter. Squarepoint Ops LLC now owns 63,805 shares of the company’s stock worth $2,038,000 after buying an additional 43,311 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Tyra Biosciences during the 2nd quarter worth approximately $334,000. 84.14% of the stock is currently owned by institutional investors.

About Tyra Biosciences

Tyra Biosciences, Inc is a clinical-stage biotechnology company focused on developing precision medicines for diseases with limited treatment options. The company uses its proprietary SNÅP platform to design small-molecule therapies intended to selectively target disease-driving genetic alterations while addressing resistance mechanisms that can reduce the effectiveness of existing treatments.

Tyra’s lead programs are directed at fibroblast growth factor receptor (FGFR) biology. TYRA-300 is an oral, selective FGFR3 inhibitor being developed for conditions including FGFR3-altered urothelial cancer and achondroplasia, a genetic skeletal disorder.