Tyra Biosciences’ (TYRA) “Outperform” Rating Reaffirmed at Wedbush

Tyra Biosciences (NASDAQ:TYRA)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a research note issued to investors on Friday, Benzinga reports. They currently have a $28.00 price target on the stock. Wedbush’s target price would suggest a potential upside of 19.25% from the company’s current price.

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

Tyra Biosciences Stock Down 17.9 %

Shares of TYRA stock traded down $5.13 during trading hours on Friday, reaching $23.48. 1,551,034 shares of the company’s stock were exchanged, compared to its average volume of 161,607. The business has a fifty day moving average price of $22.88 and a 200-day moving average price of $19.79. The stock has a market capitalization of $1.24 billion, a P/E ratio of -13.85 and a beta of 1.01. Tyra Biosciences has a fifty-two week low of $10.38 and a fifty-two week high of $29.60.

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

Insider Buying and Selling at Tyra Biosciences

In other news, CEO Todd Harris sold 19,084 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $27.90, for a total transaction of $532,443.60. Following the sale, the chief executive officer now directly owns 1,355,927 shares of the company’s stock, valued at $37,830,363.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders sold 61,403 shares of company stock worth $1,582,774. 15.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Tyra Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Tyra Biosciences in the 3rd quarter valued at about $311,000. Perceptive Advisors LLC grew its holdings in Tyra Biosciences by 50.5% during the 2nd quarter. Perceptive Advisors LLC now owns 1,007,367 shares of the company’s stock worth $16,108,000 after acquiring an additional 338,208 shares during the period. Ally Bridge Group NY LLC bought a new stake in shares of Tyra Biosciences during the 2nd quarter valued at $4,232,000. HighVista Strategies LLC acquired a new stake in shares of Tyra Biosciences during the second quarter worth $257,000. Finally, Ensign Peak Advisors Inc bought a new stake in Tyra Biosciences in the second quarter valued at about $3,047,000. 84.14% of the stock is currently 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.