Wedbush Increases Tyra Biosciences (NASDAQ:TYRA) Price Target to $53.00

Tyra Biosciences (NASDAQ:TYRA) had its target price boosted by research analysts at Wedbush from $37.00 to $53.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s price target would suggest a potential upside of 76.45% from the company’s current price.

Other analysts also recently issued reports about the stock. Piper Sandler boosted their price target on shares of Tyra Biosciences from $33.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. Jefferies Financial Group increased their price objective on Tyra Biosciences from $32.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, February 3rd. Wall Street Zen downgraded shares of Tyra Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, January 24th. Barclays assumed coverage on shares of Tyra Biosciences in a report on Tuesday, January 27th. They set an “overweight” rating for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Tyra Biosciences in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.83.

Tyra Biosciences Stock Up 2.9%

NASDAQ:TYRA traded up $0.85 during midday trading on Friday, hitting $30.04. The company had a trading volume of 91,238 shares, compared to its average volume of 707,116. The company has a market capitalization of $1.60 billion, a PE ratio of -15.94 and a beta of 1.07. Tyra Biosciences has a 52-week low of $6.42 and a 52-week high of $33.99. The stock’s fifty day moving average price is $27.53 and its 200-day moving average price is $18.74.

Insider Buying and Selling

In other news, Director Robert J. More sold 246,871 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $20.25, for a total transaction of $4,999,137.75. Following the sale, the director owned 3,833,425 shares in the company, valued at approximately $77,626,856.25. The trade was a 6.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 15.20% of the company’s stock.

Institutional Trading of Tyra Biosciences

Institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Tyra Biosciences during the fourth quarter valued at approximately $51,000. Chung Wu Investment Group LLC bought a new stake in shares of Tyra Biosciences in the 4th quarter worth $53,000. Federated Hermes Inc. raised its stake in shares of Tyra Biosciences by 586.3% in the third quarter. Federated Hermes Inc. now owns 2,155 shares of the company’s stock worth $30,000 after purchasing an additional 1,841 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Tyra Biosciences by 25.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,594 shares of the company’s stock valued at $68,000 after purchasing an additional 534 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Tyra Biosciences during the third quarter valued at $133,000. 84.14% of the stock is owned by hedge funds and other institutional investors.

About Tyra Biosciences

Tyra Biosciences (NASDAQ: TYRA) is a clinical-stage precision oncology company focused on the discovery and development of small-molecule therapies for genetically defined cancers. The company integrates bioinformatics, molecular biology and medicinal chemistry to identify oncogenic drivers and design targeted inhibitors. By leveraging large-scale genomic datasets and functional screening, Tyra Biosciences aims to advance therapies that address patient populations with high unmet medical need.

The company’s pipeline includes multiple programs at various stages of development, each directed against distinct molecular vulnerabilities in cancer cells.