Tyra Biosciences, Inc. (NASDAQ:TYRA) Given Average Rating of “Buy” by Brokerages

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) have been given a consensus recommendation of “Buy” by the five brokerages that are covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $31.00.

A number of research firms have weighed in on TYRA. HC Wainwright dropped their price objective on shares of Tyra Biosciences from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Wedbush reaffirmed an “outperform” rating and issued a $28.00 price target on shares of Tyra Biosciences in a research report on Friday, October 25th. Bank of America raised Tyra Biosciences from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $22.00 to $31.00 in a report on Friday, October 18th. Oppenheimer raised their target price on Tyra Biosciences from $25.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Finally, UBS Group initiated coverage on Tyra Biosciences in a report on Tuesday. They set a “buy” rating and a $28.00 price target for the company.

Tyra Biosciences Stock Performance

TYRA stock opened at $16.06 on Tuesday. The stock’s 50 day simple moving average is $15.50 and its 200 day simple moving average is $19.25. The company has a market cap of $812.68 million, a P/E ratio of -9.98 and a beta of 1.04. Tyra Biosciences has a fifty-two week low of $11.32 and a fifty-two week high of $29.60.

Tyra Biosciences (NASDAQ:TYRA) last issued its earnings results on Thursday, November 7th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.01). Equities analysts predict that Tyra Biosciences will post -1.57 earnings per share for the current year.

Insider Transactions at Tyra Biosciences

In other Tyra Biosciences news, CFO Alan Fuhrman bought 9,500 shares of the stock in a transaction dated Wednesday, October 30th. The shares were bought at an average cost of $16.00 per share, for a total transaction of $152,000.00. Following the purchase, the chief financial officer now directly owns 12,849 shares of the company’s stock, valued at approximately $205,584. This trade represents a 283.67 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nina S. Kjellson sold 27,493 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $16.56, for a total transaction of $455,284.08. Following the completion of the transaction, the director now owns 458,506 shares in the company, valued at approximately $7,592,859.36. The trade was a 5.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 84,160 shares of company stock worth $1,827,047 in the last 90 days. Insiders own 15.40% of the company’s stock.

Hedge Funds Weigh In On Tyra Biosciences

Several hedge funds have recently made changes to their positions in TYRA. HighVista Strategies LLC purchased a new stake in shares of Tyra Biosciences in the second quarter worth about $257,000. Franklin Resources Inc. bought a new stake in Tyra Biosciences during the 3rd quarter worth approximately $278,000. Valence8 US LP purchased a new stake in Tyra Biosciences in the 3rd quarter worth approximately $310,000. SG Americas Securities LLC bought a new position in Tyra Biosciences in the 3rd quarter valued at $311,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Tyra Biosciences during the 3rd quarter valued at $333,000. 84.14% of the stock is currently owned by hedge funds and other institutional investors.

Tyra Biosciences Company Profile

Tyra Biosciences, Inc, a clinical-stage biotechnology company, develops precision medicines for fibroblast growth factor receptor (FGFR) biology in the United States. The company offers SNÅP, a precision medicine platform that enables drug design through iterative molecular snapshots to predict genetic alterations for developing therapies targeting oncology and genetically defined conditions.