Wedbush Reiterates Outperform Rating for Tyra Biosciences (NASDAQ:TYRA)

Tyra Biosciences (NASDAQ:TYRA)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a research note issued on Friday, Benzinga reports. They presently have a $28.00 price target on the stock. Wedbush’s price target suggests a potential upside of 27.68% from the company’s current price.

TYRA has been the subject of a number of other reports. Piper Sandler began coverage on shares of Tyra Biosciences in a research note on Thursday, August 15th. They set an “overweight” rating and a $33.00 price target for the company. Bank of America upgraded shares of Tyra Biosciences from a “neutral” rating to a “buy” rating and upped their target price for the stock from $22.00 to $31.00 in a research note on Friday, October 18th. HC Wainwright raised their price target on Tyra Biosciences from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Finally, Oppenheimer lifted their price objective on Tyra Biosciences from $25.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $31.00.

Tyra Biosciences Stock Down 23.3 %

Shares of NASDAQ:TYRA opened at $21.93 on Friday. The firm has a fifty day simple moving average of $22.89 and a two-hundred day simple moving average of $19.84. Tyra Biosciences has a 52 week low of $10.38 and a 52 week high of $29.60. The stock has a market capitalization of $1.16 billion, a P/E ratio of -12.98 and a beta of 1.01.

Tyra Biosciences (NASDAQ:TYRA) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.09. On average, analysts expect that Tyra Biosciences will post -1.53 earnings per share for the current year.

Insider Activity at Tyra Biosciences

In other Tyra Biosciences news, CEO Todd Harris sold 5,698 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $24.31, for a total value of $138,518.38. Following the completion of the transaction, the chief executive officer now directly owns 1,496,729 shares in the company, valued at approximately $36,385,481.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 61,403 shares of company stock valued at $1,582,774 over the last quarter. 15.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tyra Biosciences

A number of large investors have recently made changes to their positions in the business. Rhumbline Advisers boosted its position in shares of 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. Wellington Management Group LLP boosted its holdings in Tyra Biosciences by 8.8% in the fourth quarter. Wellington Management Group LLP now owns 102,436 shares of the company’s stock worth $1,419,000 after acquiring an additional 8,324 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Tyra Biosciences during the third quarter worth about $311,000. Bank of New York Mellon Corp increased its holdings in shares of Tyra Biosciences by 32.8% during the second quarter. Bank of New York Mellon Corp now owns 58,087 shares of the company’s stock valued at $929,000 after acquiring an additional 14,352 shares in the last quarter. Finally, HighVista Strategies LLC purchased a new position in shares of Tyra Biosciences in the 2nd quarter valued at approximately $257,000. 84.14% of the stock is owned by institutional investors and hedge funds.

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.