Analysts Set Tyra Biosciences, Inc. (NASDAQ:TYRA) PT at $31.00

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) have earned an average rating of “Buy” from the six brokerages that are currently covering the company, Marketbeat reports. Six analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have covered the stock in the last year is $30.50.

A number of brokerages recently commented on TYRA. UBS Group began coverage on Tyra Biosciences in a report on Tuesday. They set a “buy” rating and a $28.00 target price for the company. Wedbush restated an “outperform” rating and issued a $28.00 price objective on shares of Tyra Biosciences in a report on Friday, October 25th. HC Wainwright cut their target price on shares of Tyra Biosciences from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Oppenheimer raised their price objective on Tyra Biosciences from $25.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. Finally, Bank of America upgraded shares of Tyra Biosciences from a “neutral” rating to a “buy” rating and increased their price target for the stock from $22.00 to $31.00 in a research note on Friday, October 18th.

Insiders Place Their Bets

In other news, Director Nina S. Kjellson sold 11,078 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was 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 of the company’s stock, valued at $7,635,587.19. This represents a 2.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Alan Fuhrman acquired 9,500 shares of Tyra Biosciences stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average price of $16.00 per share, with a total value 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 $205,584. This represents a 283.67 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 84,160 shares of company stock valued at $1,827,047. 15.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tyra Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of TYRA. American Century Companies Inc. raised its holdings in shares of Tyra Biosciences by 582.9% during the second quarter. American Century Companies Inc. now owns 170,283 shares of the company’s stock valued at $2,723,000 after purchasing an additional 145,346 shares during the last quarter. Perceptive Advisors LLC grew 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 purchasing an additional 338,208 shares during the period. Janus Henderson Group PLC purchased a new stake in Tyra Biosciences during the 3rd quarter valued at $24,994,000. Ensign Peak Advisors Inc bought a new position in shares of Tyra Biosciences during the 2nd quarter valued at $3,047,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Tyra Biosciences in the 3rd quarter worth $593,000. Institutional investors own 84.14% of the company’s stock.

Tyra Biosciences Stock Up 0.1 %

Shares of Tyra Biosciences stock opened at $15.97 on Tuesday. The company’s fifty day simple moving average is $15.48 and its two-hundred day simple moving average is $19.22. Tyra Biosciences has a 12-month low of $11.32 and a 12-month high of $29.60. The firm has a market cap of $808.13 million, a PE ratio of -9.92 and a beta of 1.04.

Tyra Biosciences (NASDAQ:TYRA) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.01). As a group, sell-side analysts expect that Tyra Biosciences will post -1.57 earnings per share for the current fiscal year.

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.