Tyra Biosciences, Inc. (NASDAQ:TYRA) Receives $46.50 Average Price Target from Brokerages

Tyra Biosciences, Inc. (NASDAQ:TYRA) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $46.50.

Several equities research analysts have issued reports on the stock. Guggenheim assumed coverage on shares of Tyra Biosciences in a research note on Tuesday, April 14th. They set a “buy” rating and a $54.00 price target on the stock. Wedbush raised their price target on shares of Tyra Biosciences from $37.00 to $53.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. William Blair assumed coverage on shares of Tyra Biosciences in a research note on Tuesday, February 10th. They set an “outperform” rating on the stock. HC Wainwright reaffirmed a “buy” rating and set a $45.00 price target on shares of Tyra Biosciences in a research note on Thursday, May 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tyra Biosciences in a research note on Monday, April 20th.

Insider Activity

In related news, Director Gilla Kaplan sold 14,295 shares of the firm’s stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $36.97, for a total value of $528,486.15. Following the sale, the director directly owned 28,231 shares of the company’s stock, valued at approximately $1,043,700.07. This trade represents a 33.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Tyra Biosciences

Hedge funds have recently modified their holdings of the stock. Hilton Head Capital Partners LLC acquired a new stake in shares of Tyra Biosciences in the first quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Tyra Biosciences in the fourth quarter worth approximately $51,000. Chung Wu Investment Group LLC acquired a new stake in shares of Tyra Biosciences in the fourth quarter worth approximately $53,000. Federated Hermes Inc. boosted its position 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 acquiring an additional 1,841 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Tyra Biosciences by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,594 shares of the company’s stock worth $68,000 after acquiring an additional 534 shares during the last quarter. 84.14% of the stock is owned by institutional investors and hedge funds.

Tyra Biosciences Price Performance

Tyra Biosciences stock opened at $32.68 on Friday. Tyra Biosciences has a 12-month low of $8.88 and a 12-month high of $40.65. The stock has a market capitalization of $1.94 billion, a P/E ratio of -14.99 and a beta of 0.79. The firm’s 50-day moving average is $35.74 and its two-hundred day moving average is $30.24.

Tyra Biosciences (NASDAQ:TYRA) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.04). As a group, analysts forecast that Tyra Biosciences will post -2.69 EPS for the current year.

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.