HC Wainwright Issues Pessimistic Forecast for Tyra Biosciences (NASDAQ:TYRA) Stock Price

Tyra Biosciences (NASDAQ:TYRA) had its price objective cut by stock analysts at HC Wainwright from $32.00 to $30.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price would indicate a potential upside of 88.21% from the company’s previous close.

A number of other equities analysts have also weighed in on TYRA. Piper Sandler assumed coverage on Tyra Biosciences in a research report on Thursday, August 15th. They issued an “overweight” rating and a $33.00 target price for the company. Wedbush reaffirmed an “outperform” rating and set a $28.00 target price on shares of Tyra Biosciences in a report on Friday, October 25th. Oppenheimer raised their price objective on Tyra Biosciences from $25.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Finally, Bank of America upgraded shares of Tyra Biosciences from a “neutral” rating to a “buy” rating and raised their target price for the stock from $22.00 to $31.00 in a research note on Friday, October 18th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $31.00.

Tyra Biosciences Price Performance

Shares of Tyra Biosciences stock opened at $15.94 on Monday. Tyra Biosciences has a 1 year low of $10.60 and a 1 year high of $29.60. The firm’s 50-day moving average is $21.62 and its 200 day moving average is $20.01. The stock has a market cap of $841.73 million, a price-to-earnings ratio of -9.90 and a beta of 1.08.

Tyra Biosciences (NASDAQ:TYRA) last issued its earnings results on Thursday, November 7th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.01). On average, equities analysts expect that Tyra Biosciences will post -1.53 EPS for the current fiscal year.

Insider Activity

In related news, Director Nina S. Kjellson sold 27,493 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $16.56, for a total transaction of $455,284.08. Following the completion of the transaction, the director now owns 458,506 shares in the company, valued at approximately $7,592,859.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Nina S. Kjellson sold 27,493 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $16.56, for a total transaction of $455,284.08. Following the completion of the transaction, the director now directly owns 458,506 shares in the company, valued at approximately $7,592,859.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Alan Fuhrman bought 9,500 shares of Tyra Biosciences stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average price of $16.00 per share, for a total transaction of $152,000.00. Following the completion of the acquisition, the chief financial officer now owns 12,849 shares in the company, valued at approximately $205,584. The trade was a 200.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 101,050 shares of company stock worth $2,235,492 over the last quarter. Insiders own 15.40% of the company’s stock.

Institutional Investors Weigh In On Tyra Biosciences

Institutional investors have recently modified their holdings of the stock. Oppenheimer & Co. Inc. purchased a new stake in Tyra Biosciences during the 1st quarter valued at $977,000. Vanguard Group Inc. raised its stake 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 acquiring an additional 140,833 shares during the period. BVF Inc. IL lifted its holdings in shares of Tyra Biosciences by 70.1% in the 1st 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. Kynam Capital Management LP boosted its stake in shares of Tyra Biosciences by 51.4% during the 1st quarter. Kynam Capital Management LP now owns 515,190 shares of the company’s stock worth $8,449,000 after purchasing an additional 175,000 shares during the period. Finally, 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 buying an additional 3,180,155 shares during the last quarter. 84.14% of the stock is owned by institutional investors.

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.