Tyra Biosciences (NASDAQ:TYRA) Lifted to “Buy” at Bank of America

Bank of America upgraded shares of Tyra Biosciences (NASDAQ:TYRA) from a neutral rating to a buy rating in a research note released on Friday, Marketbeat Ratings reports. Bank of America currently has $31.00 target price on the stock, up from their prior target price of $22.00.

A number of other brokerages have also recently issued reports on TYRA. Oppenheimer boosted their price objective on shares of Tyra Biosciences from $25.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Piper Sandler started coverage on shares of Tyra Biosciences in a report on Thursday, August 15th. They set an “overweight” rating and a $33.00 price objective for the company. Wedbush reiterated an “outperform” rating and issued a $28.00 price target on shares of Tyra Biosciences in a report on Thursday, August 8th. Finally, HC Wainwright upped their price target on shares of Tyra Biosciences from $25.00 to $30.00 and gave the company a “buy” rating in a report on Monday, October 7th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $31.00.

Tyra Biosciences Trading Up 3.8 %

Shares of NASDAQ TYRA opened at $28.37 on Friday. Tyra Biosciences has a 1-year low of $10.38 and a 1-year high of $28.81. The company has a market cap of $1.50 billion, a PE ratio of -16.79 and a beta of 1.01. The company has a 50-day moving average of $22.48 and a two-hundred day moving average of $19.60.

Tyra Biosciences (NASDAQ:TYRA) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.09. As a group, equities research analysts forecast that Tyra Biosciences will post -1.53 earnings per share for the current year.

Insider Activity

In other Tyra Biosciences news, CEO Todd Harris sold 15,394 shares of the company’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $25.85, for a total transaction of $397,934.90. Following the sale, the chief executive officer now directly owns 1,418,647 shares of the company’s stock, valued at approximately $36,672,024.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold 42,319 shares of company stock worth $1,050,330 over the last quarter. 15.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tyra Biosciences

Several large investors have recently modified their holdings of the stock. Rhumbline Advisers raised its position in shares of Tyra Biosciences by 12.3% in the second quarter. Rhumbline Advisers now owns 23,572 shares of the company’s stock valued at $377,000 after purchasing an additional 2,574 shares during the period. Wellington Management Group LLP grew its stake 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. SG Americas Securities LLC acquired a new stake in Tyra Biosciences during the third quarter worth about $311,000. Bank of New York Mellon Corp grew its stake in Tyra Biosciences by 32.8% during the second quarter. Bank of New York Mellon Corp now owns 58,087 shares of the company’s stock worth $929,000 after buying an additional 14,352 shares in the last quarter. Finally, HighVista Strategies LLC acquired a new stake in shares of Tyra Biosciences in the 2nd quarter valued at approximately $257,000. 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.