Tyra Biosciences’ (TYRA) Outperform Rating Reaffirmed at Wedbush

Tyra Biosciences (NASDAQ:TYRA)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $28.00 price target on the stock. Wedbush’s target price would indicate a potential upside of 67.66% from the company’s previous close.

Several other analysts also recently issued reports on the company. Oppenheimer reissued an “outperform” rating and issued a $28.00 price target (up previously from $25.00) on shares of Tyra Biosciences in a research note on Monday, May 13th. HC Wainwright reiterated a “buy” rating and issued a $23.00 price objective on shares of Tyra Biosciences in a report on Wednesday.

Tyra Biosciences Price Performance

Tyra Biosciences stock opened at $16.70 on Wednesday. The business has a 50 day simple moving average of $17.62 and a 200 day simple moving average of $16.57. Tyra Biosciences has a one year low of $10.38 and a one year high of $21.14. The company has a market capitalization of $877.42 million, a PE ratio of -9.94 and a beta of 1.01.

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

Insider Buying and Selling at Tyra Biosciences

In other Tyra Biosciences news, COO Daniel Bensen sold 3,502 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $20.00, for a total transaction of $70,040.00. Following the completion of the transaction, the chief operating officer now owns 427,981 shares in the company, valued at approximately $8,559,620. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 15.40% of the company’s stock.

Institutional Investors Weigh In On Tyra Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of TYRA. RA Capital Management L.P. grew its holdings 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 buying an additional 3,180,155 shares during the last quarter. BVF Inc. IL raised its stake in shares of 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 purchasing an additional 1,921,599 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Tyra Biosciences by 18.6% in the first quarter. Vanguard Group Inc. now owns 899,800 shares of the company’s stock valued at $14,757,000 after purchasing an additional 140,833 shares in the last quarter. Kynam Capital Management LP boosted its position in shares of Tyra Biosciences by 51.4% during the first quarter. Kynam Capital Management LP now owns 515,190 shares of the company’s stock valued at $8,449,000 after buying an additional 175,000 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Tyra Biosciences by 8.8% during the fourth quarter. Wellington Management Group LLP now owns 102,436 shares of the company’s stock worth $1,419,000 after buying an additional 8,324 shares in the last quarter. 84.14% of the stock is owned by 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.