Tyra Biosciences’ (TYRA) Buy Rating Reaffirmed at HC Wainwright

Tyra Biosciences (NASDAQ:TYRA)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a research note issued on Wednesday, Benzinga reports. They currently have a $23.00 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 37.72% from the company’s previous close.

A number of other research firms also recently commented on TYRA. Oppenheimer restated an “outperform” rating and set a $28.00 price objective (up from $25.00) on shares of Tyra Biosciences in a report on Monday, May 13th. Wedbush restated an “outperform” rating and set a $28.00 price objective on shares of Tyra Biosciences in a report on Friday, May 10th.

Tyra Biosciences Stock Down 3.4 %

Shares of Tyra Biosciences stock opened at $16.70 on Wednesday. Tyra Biosciences has a fifty-two week low of $10.38 and a fifty-two week high of $21.14. The firm has a market cap of $877.42 million, a PE ratio of -9.94 and a beta of 1.01. The business’s fifty day moving average is $17.62 and its two-hundred day moving average is $16.57.

Tyra Biosciences (NASDAQ:TYRA) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.11. Equities research analysts anticipate that Tyra Biosciences will post -1.71 EPS for the current year.

Insider Activity at Tyra Biosciences

In related news, COO Daniel Bensen sold 3,502 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $20.00, for a total value of $70,040.00. Following the completion of the sale, the chief operating officer now directly owns 427,981 shares in the company, valued at approximately $8,559,620. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 15.40% of the stock is owned by insiders.

Institutional Trading of Tyra Biosciences

Several large investors have recently added to or reduced their stakes in the stock. RA Capital Management L.P. grew its stake in shares of Tyra Biosciences by 43.9% during the first quarter. RA Capital Management L.P. now owns 10,416,609 shares of the company’s stock valued at $170,832,000 after acquiring an additional 3,180,155 shares in the last quarter. BVF Inc. IL lifted its holdings in Tyra Biosciences by 70.1% in the first quarter. BVF Inc. IL now owns 4,661,194 shares of the company’s stock worth $76,444,000 after acquiring an additional 1,921,599 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Tyra Biosciences by 18.6% in the first quarter. Vanguard Group Inc. now owns 899,800 shares of the company’s stock worth $14,757,000 after acquiring an additional 140,833 shares during the last quarter. Kynam Capital Management LP lifted its holdings in Tyra Biosciences by 51.4% in the first quarter. Kynam Capital Management LP now owns 515,190 shares of the company’s stock worth $8,449,000 after acquiring an additional 175,000 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Tyra Biosciences by 8.8% in the fourth quarter. Wellington Management Group LLP now owns 102,436 shares of the company’s stock worth $1,419,000 after acquiring an additional 8,324 shares during the last quarter. 84.14% of the stock is currently owned by institutional investors and hedge funds.

About Tyra Biosciences

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.