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

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

Other equities research analysts have also recently issued research reports about the stock. Bank of America raised shares of Tyra Biosciences from a “neutral” rating to a “buy” rating and boosted their target price for the company from $22.00 to $31.00 in a report on Friday, October 18th. Piper Sandler assumed coverage on Tyra Biosciences in a research note on Thursday, August 15th. They issued an “overweight” rating and a $33.00 target price for the company. HC Wainwright lifted their target price on Tyra Biosciences from $25.00 to $30.00 and gave the company a “buy” rating in a report on Monday, October 7th. Finally, Oppenheimer increased their price target on shares of Tyra Biosciences from $25.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Tyra Biosciences presently has a consensus rating of “Buy” and a consensus target price of $31.40.

Tyra Biosciences Trading Down 9.3 %

Shares of NASDAQ TYRA opened at $19.89 on Friday. The stock has a fifty day simple moving average of $22.89 and a two-hundred day simple moving average of $19.87. Tyra Biosciences has a 1-year low of $10.60 and a 1-year high of $29.60. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -11.77 and a beta of 1.01.

Tyra Biosciences (NASDAQ:TYRA) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.09. Analysts forecast that Tyra Biosciences will post -1.53 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Todd Harris sold 10,092 shares of Tyra Biosciences stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $24.13, for a total transaction of $243,519.96. Following the completion of the sale, the chief executive officer now owns 1,479,528 shares in the company, valued at approximately $35,701,010.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 61,403 shares of company stock worth $1,582,774 in the last ninety days. 15.40% of the stock is currently owned by insiders.

Institutional Trading of Tyra Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. bought a new position in Tyra Biosciences in the first quarter valued at $977,000. Vanguard Group Inc. increased its position in shares of Tyra Biosciences by 18.6% during the 1st 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 during the last quarter. American Century Companies Inc. raised its holdings in shares of Tyra Biosciences by 582.9% during the 2nd quarter. American Century Companies Inc. now owns 170,283 shares of the company’s stock valued at $2,723,000 after buying an additional 145,346 shares in the last quarter. Perceptive Advisors LLC lifted its position in Tyra Biosciences by 50.5% in the 2nd quarter. Perceptive Advisors LLC now owns 1,007,367 shares of the company’s stock worth $16,108,000 after buying an additional 338,208 shares during the last quarter. Finally, Ensign Peak Advisors Inc bought a new stake in Tyra Biosciences in the 2nd quarter worth approximately $3,047,000. Hedge funds and other institutional investors own 84.14% of the company’s stock.

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.