Tyra Biosciences (NASDAQ:TYRA) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Tyra Biosciences (NASDAQ:TYRA) announced its earnings results on Tuesday. The company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.02), Zacks reports.

Tyra Biosciences Trading Up 1.5%

Shares of Tyra Biosciences stock traded up $0.49 on Tuesday, reaching $32.53. 347,643 shares of the stock were exchanged, compared to its average volume of 910,415. The firm has a market capitalization of $1.93 billion, a PE ratio of -14.92 and a beta of 0.77. Tyra Biosciences has a 1-year low of $9.96 and a 1-year high of $40.65. The business has a fifty day moving average price of $30.47 and a two-hundred day moving average price of $32.71.

Analyst Upgrades and Downgrades

TYRA has been the subject of a number of recent research reports. Wolfe Research assumed coverage on shares of Tyra Biosciences in a research note on Tuesday, May 19th. They set a “peer perform” rating for the company. Canaccord Genuity Group initiated coverage on shares of Tyra Biosciences in a research note on Monday, April 6th. They set a “buy” rating and a $50.00 target price for the company. Guggenheim initiated coverage on Tyra Biosciences in a report on Tuesday, April 14th. They set a “buy” rating and a $54.00 price target on the stock. JonesTrading initiated coverage on Tyra Biosciences in a research report on Wednesday, June 17th. They issued a “buy” rating and a $56.00 price target on the stock. Finally, Bank of America upped their price objective on Tyra Biosciences from $37.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.00.

Institutional Trading of Tyra Biosciences

Several hedge funds have recently modified their holdings of TYRA. AQR Capital Management LLC grew its stake in shares of Tyra Biosciences by 2.0% during the 4th quarter. AQR Capital Management LLC now owns 28,631 shares of the company’s stock worth $753,000 after purchasing an additional 562 shares during the period. MetLife Investment Management LLC grew its position in Tyra Biosciences by 5.0% during the fourth quarter. MetLife Investment Management LLC now owns 15,356 shares of the company’s stock worth $404,000 after buying an additional 725 shares during the period. Virtus Investment Advisers LLC grew its position in Tyra Biosciences by 6.7% during the fourth quarter. Virtus Investment Advisers LLC now owns 11,756 shares of the company’s stock worth $309,000 after buying an additional 741 shares during the period. Deutsche Bank AG increased its holdings in Tyra Biosciences by 5.8% in the fourth quarter. Deutsche Bank AG now owns 16,377 shares of the company’s stock valued at $431,000 after buying an additional 894 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Tyra Biosciences by 12.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,432 shares of the company’s stock valued at $380,000 after purchasing an additional 1,631 shares in the last quarter. 84.14% of the stock is owned by institutional investors and hedge funds.

Tyra Biosciences Company Profile

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.