HC Wainwright Lowers Tyra Biosciences (NASDAQ:TYRA) Price Target to $29.00

Tyra Biosciences (NASDAQ:TYRA) had its price objective decreased by investment analysts at HC Wainwright from $30.00 to $29.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price indicates a potential upside of 13.06% from the company’s previous close.

TYRA has been the topic of several other research reports. Jefferies Financial Group restated a “buy” rating and issued a $42.00 target price on shares of Tyra Biosciences in a report on Wednesday, August 5th. Bank of America boosted their target price on shares of Tyra Biosciences from $37.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Wedbush reissued an “outperform” rating and set a $53.00 price target on shares of Tyra Biosciences in a report on Thursday, September 10th. Piper Sandler restated an “overweight” rating and issued a $56.00 price target on shares of Tyra Biosciences in a research note on Tuesday, September 8th. Finally, JonesTrading began coverage on Tyra Biosciences in a report on Wednesday, June 17th. They issued a “buy” rating and a $56.00 price objective for the company. Eleven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Tyra Biosciences has an average rating of “Moderate Buy” and an average price target of $47.75.

Tyra Biosciences Stock Performance

TYRA opened at $25.65 on Tuesday. The stock has a market capitalization of $1.53 billion, a P/E ratio of -10.69 and a beta of 0.73. The company’s 50-day simple moving average is $27.52 and its two-hundred day simple moving average is $31.48. Tyra Biosciences has a 52-week low of $12.38 and a 52-week high of $40.65.

Tyra Biosciences (NASDAQ:TYRA) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.04). Research analysts forecast that Tyra Biosciences will post -2.73 EPS for the current fiscal year.

Institutional Trading of Tyra Biosciences

Large investors have recently added to or reduced their stakes in the business. Hilton Head Capital Partners LLC purchased a new stake in Tyra Biosciences during the first quarter valued at approximately $30,000. State of Wyoming purchased a new position in shares of Tyra Biosciences during the 2nd quarter worth $76,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Tyra Biosciences during the 4th quarter valued at $79,000. Canada Pension Plan Investment Board bought a new stake in shares of Tyra Biosciences during the 2nd quarter valued at $230,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Tyra Biosciences in the 1st quarter worth $276,000. 84.14% of the stock is currently owned by institutional investors.

Tyra Biosciences Company Profile

Tyra Biosciences, Inc is a clinical-stage biotechnology company focused on developing precision medicines for diseases with limited treatment options. The company uses its proprietary SNÅP platform to design small-molecule therapies intended to selectively target disease-driving genetic alterations while addressing resistance mechanisms that can reduce the effectiveness of existing treatments.

Tyra’s lead programs are directed at fibroblast growth factor receptor (FGFR) biology. TYRA-300 is an oral, selective FGFR3 inhibitor being developed for conditions including FGFR3-altered urothelial cancer and achondroplasia, a genetic skeletal disorder.