Tyra Biosciences, Inc. (NASDAQ:TYRA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Tyra Biosciences, Inc. (NASDAQ:TYRA) has been given a consensus recommendation of “Moderate Buy” by the fifteen brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, twelve have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $47.00.

Several equities research analysts have commented on the stock. JonesTrading assumed coverage on shares of Tyra Biosciences in a report on Wednesday, June 17th. They issued a “buy” rating and a $56.00 price target on the stock. Wolfe Research assumed coverage on shares of Tyra Biosciences in a report on Tuesday, May 19th. They issued a “peer perform” rating on the stock. Piper Sandler upped their price target on shares of Tyra Biosciences from $42.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, March 20th. Bank of America upped their price target on shares of Tyra Biosciences from $37.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. Finally, HC Wainwright reissued a “buy” rating and set a $45.00 target price on shares of Tyra Biosciences in a research note on Thursday, May 14th.

Tyra Biosciences Price Performance

NASDAQ TYRA opened at $30.14 on Tuesday. The stock’s fifty day moving average price is $32.54 and its 200 day moving average price is $31.36. Tyra Biosciences has a 1 year low of $8.98 and a 1 year high of $40.65. The company has a market cap of $1.79 billion, a price-to-earnings ratio of -13.83 and a beta of 0.75.

Tyra Biosciences (NASDAQ:TYRA) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.04). Research analysts expect that Tyra Biosciences will post -2.68 earnings per share for the current year.

Insider Activity

In other news, Director Gilla Kaplan sold 14,295 shares of the stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of $36.97, for a total transaction of $528,486.15. Following the sale, the director directly owned 28,231 shares of the company’s stock, valued at $1,043,700.07. This represents a 33.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 12.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Seven Fleet Capital Management LP lifted its stake in Tyra Biosciences by 149.6% in the 1st quarter. Seven Fleet Capital Management LP now owns 198,585 shares of the company’s stock valued at $7,606,000 after buying an additional 119,025 shares in the last quarter. Bank of America Corp DE lifted its stake in Tyra Biosciences by 448.0% in the 1st quarter. Bank of America Corp DE now owns 209,922 shares of the company’s stock valued at $8,040,000 after buying an additional 171,612 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Tyra Biosciences by 32.5% in the 1st quarter. Janus Henderson Group PLC now owns 3,890,589 shares of the company’s stock valued at $148,867,000 after buying an additional 955,147 shares in the last quarter. Arkadios Wealth Advisors purchased a new position in Tyra Biosciences in the 1st quarter valued at about $1,822,000. Finally, The Manufacturers Life Insurance Company lifted its stake in Tyra Biosciences by 381.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 40,224 shares of the company’s stock valued at $1,541,000 after buying an additional 31,867 shares in the last quarter. 84.14% of the stock is owned by hedge funds and other institutional investors.

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.