Tyra Biosciences, Inc. (NASDAQ:TYRA) Given Average Recommendation of “Buy” by Brokerages

Tyra Biosciences, Inc. (NASDAQ:TYRA) has earned a consensus rating of “Buy” from the six research firms that are currently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $30.50.

A number of brokerages recently issued reports on TYRA. Oppenheimer increased their price objective on 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 upgraded Tyra Biosciences from a “neutral” rating to a “buy” rating and raised their price target for the company from $22.00 to $31.00 in a research report on Friday, October 18th. UBS Group assumed coverage on Tyra Biosciences in a research note on Tuesday, January 7th. They set a “buy” rating and a $28.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Tyra Biosciences in a research note on Monday. Finally, Wedbush reaffirmed an “outperform” rating and set a $28.00 price target on shares of Tyra Biosciences in a research note on Friday, October 25th.

Insider Transactions at Tyra Biosciences

In other news, Director Nina S. Kjellson sold 11,078 shares of Tyra Biosciences stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $16.17, for a total value of $179,131.26. Following the transaction, the director now owns 472,207 shares in the company, valued at approximately $7,635,587.19. The trade was a 2.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Todd Harris sold 15,394 shares of Tyra Biosciences stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $25.85, for a total value of $397,934.90. Following the completion of the transaction, the chief executive officer now owns 1,418,647 shares in the company, valued at approximately $36,672,024.95. This represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,125 shares of company stock worth $1,583,097. Company insiders own 15.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. FMR LLC increased its holdings in Tyra Biosciences by 0.8% during the 3rd quarter. FMR LLC now owns 3,372,850 shares of the company’s stock valued at $79,296,000 after purchasing an additional 26,187 shares during the period. Janus Henderson Group PLC purchased a new position in Tyra Biosciences during the 3rd quarter valued at about $24,994,000. Perceptive Advisors LLC increased 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 valued at $16,108,000 after purchasing an additional 338,208 shares during the period. State Street Corp increased its holdings in Tyra Biosciences by 4.4% during the 3rd quarter. State Street Corp now owns 384,732 shares of the company’s stock valued at $9,045,000 after purchasing an additional 16,248 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Tyra Biosciences by 1.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 368,647 shares of the company’s stock valued at $8,667,000 after purchasing an additional 3,896 shares during the period. Hedge funds and other institutional investors own 84.14% of the company’s stock.

Tyra Biosciences Stock Performance

Shares of TYRA stock opened at $15.10 on Tuesday. Tyra Biosciences has a 52-week low of $12.17 and a 52-week high of $29.60. The company has a market capitalization of $764.11 million, a PE ratio of -9.38 and a beta of 1.04. The business’s fifty day moving average is $15.45 and its 200 day moving average is $19.22.

Tyra Biosciences (NASDAQ:TYRA) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.01). On average, sell-side analysts forecast that Tyra Biosciences will post -1.57 EPS for the current fiscal year.

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.