HC Wainwright Has Negative Outlook for TYRA FY2024 Earnings

Tyra Biosciences, Inc. (NASDAQ:TYRA) – Research analysts at HC Wainwright cut their FY2024 earnings per share (EPS) estimates for shares of Tyra Biosciences in a report released on Monday, November 11th. HC Wainwright analyst M. Kapoor now forecasts that the company will earn ($1.59) per share for the year, down from their previous estimate of ($1.53). HC Wainwright currently has a “Buy” rating and a $30.00 target price on the stock. The consensus estimate for Tyra Biosciences’ current full-year earnings is ($1.56) per share. HC Wainwright also issued estimates for Tyra Biosciences’ Q4 2024 earnings at ($0.52) EPS, Q1 2025 earnings at ($0.53) EPS, Q2 2025 earnings at ($0.54) EPS, Q3 2025 earnings at ($0.55) EPS, Q4 2025 earnings at ($0.56) EPS and FY2025 earnings at ($2.17) EPS.

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

Tyra Biosciences Stock Performance

Shares of Tyra Biosciences stock opened at $16.34 on Wednesday. Tyra Biosciences has a 52-week low of $10.60 and a 52-week high of $29.60. The company has a fifty day moving average of $21.51 and a 200-day moving average of $19.98. The stock has a market capitalization of $826.80 million, a price-to-earnings ratio of -10.15 and a beta of 1.08.

Tyra Biosciences (NASDAQ:TYRA) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.01).

Insider Buying and Selling

In related news, CFO Alan Fuhrman purchased 9,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were 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 directly owns 12,849 shares in the company, valued at approximately $205,584. The trade was a 283.67 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Nina S. Kjellson sold 11,078 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $16.17, for a total transaction of $179,131.26. Following the transaction, the director now directly owns 472,207 shares in the company, valued at approximately $7,635,587.19. The trade was a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,050 shares of company stock valued at $2,235,492 over the last ninety days. 15.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Tyra Biosciences

A number of institutional investors have recently bought and sold shares of the stock. HighVista Strategies LLC bought a new stake in Tyra Biosciences during the 2nd quarter valued at approximately $257,000. Valence8 US LP purchased a new position in shares of Tyra Biosciences in the 3rd quarter valued at approximately $310,000. SG Americas Securities LLC bought a new stake in shares of Tyra Biosciences during the third quarter valued at approximately $311,000. The Manufacturers Life Insurance Company purchased a new stake in Tyra Biosciences in the third quarter worth $333,000. Finally, Rhumbline Advisers raised its holdings in Tyra Biosciences by 12.3% in the second quarter. Rhumbline Advisers now owns 23,572 shares of the company’s stock worth $377,000 after purchasing an additional 2,574 shares in the last quarter. 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.