Wedbush Reaffirms “Outperform” Rating for Tyra Biosciences (NASDAQ:TYRA)

Wedbush reissued their outperform rating on shares of Tyra Biosciences (NASDAQ:TYRA) in a report released on Friday morning, Benzinga reports. Wedbush currently has a $28.00 price objective on the stock.

TYRA has been the topic of several other reports. Bank of America upgraded shares of Tyra Biosciences from a “neutral” rating to a “buy” rating and increased their price target for the company from $22.00 to $31.00 in a research note on Friday, October 18th. HC Wainwright increased their target price on shares of Tyra Biosciences from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Piper Sandler began coverage on shares of Tyra Biosciences in a research report on Thursday, August 15th. They issued an “overweight” rating and a $33.00 price target for the company. Finally, Oppenheimer raised their price objective on Tyra Biosciences from $25.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Tyra Biosciences presently has an average rating of “Buy” and an average price target of $31.00.

Tyra Biosciences Trading Down 23.3 %

Shares of TYRA stock opened at $21.93 on Friday. The company has a market cap of $1.15 billion, a P/E ratio of -13.05 and a beta of 1.01. The firm has a fifty day moving average price of $22.89 and a 200 day moving average price of $19.87. Tyra Biosciences has a 12 month low of $10.38 and a 12 month high of $29.60.

Tyra Biosciences (NASDAQ:TYRA) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.09. On average, equities analysts forecast that Tyra Biosciences will post -1.53 EPS for the current year.

Insider Activity at Tyra Biosciences

In other Tyra Biosciences news, CEO Todd Harris sold 10,092 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $24.13, for a total transaction of $243,519.96. Following the transaction, the chief executive officer now directly owns 1,479,528 shares of the company’s stock, valued at approximately $35,701,010.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 61,403 shares of company stock worth $1,582,774 in the last 90 days. 15.40% of the stock is owned by insiders.

Institutional Trading of Tyra Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. HighVista Strategies LLC purchased a new position in shares of Tyra Biosciences in the 2nd quarter valued at approximately $257,000. SG Americas Securities LLC purchased a new position in Tyra Biosciences in the 3rd quarter valued at $311,000. Rhumbline Advisers grew its position in Tyra Biosciences by 12.3% in the 2nd quarter. Rhumbline Advisers now owns 23,572 shares of the company’s stock valued at $377,000 after buying an additional 2,574 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Tyra Biosciences by 32.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 58,087 shares of the company’s stock valued at $929,000 after buying an additional 14,352 shares during the period. Finally, Oppenheimer & Co. Inc. purchased a new position in Tyra Biosciences during the 1st quarter worth $977,000. 84.14% of the stock is 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.