Oppenheimer Reiterates Outperform Rating for Tyra Biosciences (NASDAQ:TYRA)

Tyra Biosciences (NASDAQ:TYRA)‘s stock had its “outperform” rating restated by analysts at Oppenheimer in a research note issued on Wednesday, Benzinga reports. They currently have a $28.00 price objective on the stock. Oppenheimer’s price target suggests a potential upside of 65.00% from the company’s current price.

A number of other brokerages also recently issued reports on TYRA. Wedbush reaffirmed an “outperform” rating and set a $28.00 price target on shares of Tyra Biosciences in a report on Wednesday. HC Wainwright reaffirmed a “buy” rating and set a $23.00 price target on shares of Tyra Biosciences in a report on Wednesday.

Tyra Biosciences Price Performance

TYRA opened at $16.97 on Wednesday. Tyra Biosciences has a 12 month low of $10.38 and a 12 month high of $21.14. The stock has a market capitalization of $891.60 million, a price-to-earnings ratio of -10.10 and a beta of 1.01. The business has a fifty day moving average price of $17.67 and a 200 day moving average price of $16.58.

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

Insiders Place Their Bets

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 transaction, the chief operating officer now directly owns 427,981 shares of the company’s stock, valued at approximately $8,559,620. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 15.40% of the company’s stock.

Hedge Funds Weigh In On Tyra Biosciences

A number of hedge funds have recently bought and sold shares of TYRA. Wellington Management Group LLP raised its holdings in Tyra Biosciences by 18.5% during the third quarter. Wellington Management Group LLP now owns 94,112 shares of the company’s stock worth $1,296,000 after purchasing an additional 14,676 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Tyra Biosciences by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 9,531 shares of the company’s stock worth $132,000 after purchasing an additional 2,417 shares during the period. Federated Hermes Inc. increased its stake in Tyra Biosciences by 1,244.2% in the fourth quarter. Federated Hermes Inc. now owns 2,070 shares of the company’s stock valued at $29,000 after acquiring an additional 1,916 shares during the period. Victory Capital Management Inc. grew its stake in Tyra Biosciences by 53.4% during the fourth quarter. Victory Capital Management Inc. now owns 50,220 shares of the company’s stock worth $696,000 after buying an additional 17,490 shares during the last quarter. Finally, AJOVista LLC bought a new stake in Tyra Biosciences during the fourth quarter worth about $59,000. 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.