Canaccord Genuity Group Initiates Coverage on Tyra Biosciences (NASDAQ:TYRA)

Analysts at Canaccord Genuity Group began coverage on shares of Tyra Biosciences (NASDAQ:TYRA) in a research note issued on Monday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $50.00 price target on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 32.52% from the company’s previous close.

A number of other brokerages have also recently commented on TYRA. Wedbush increased their price objective on shares of Tyra Biosciences from $37.00 to $53.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. HC Wainwright increased their price objective on shares of Tyra Biosciences from $30.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Wall Street Zen lowered shares of Tyra Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, January 24th. Cantor Fitzgerald initiated coverage on shares of Tyra Biosciences in a report on Tuesday, February 24th. They issued an “overweight” rating on the stock. Finally, Piper Sandler upped their target price on shares of Tyra Biosciences from $42.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, March 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $45.43.

Tyra Biosciences Trading Down 3.1%

Shares of NASDAQ TYRA opened at $37.73 on Monday. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of -18.77 and a beta of 0.96. Tyra Biosciences has a 52 week low of $6.42 and a 52 week high of $40.65. The company’s 50-day moving average price is $34.03 and its 200 day moving average price is $25.12.

Tyra Biosciences (NASDAQ:TYRA) last issued its quarterly earnings data on Monday, March 2nd. The company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.03). As a group, research analysts expect that Tyra Biosciences will post -1.57 earnings per share for the current year.

Insider Transactions at Tyra Biosciences

In other Tyra Biosciences news, Director Gilla Kaplan sold 14,295 shares of the company’s stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of $36.97, for a total value of $528,486.15. Following the transaction, the director directly owned 28,231 shares in the company, valued at approximately $1,043,700.07. This represents a 33.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 15.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Tyra Biosciences by 25.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,594 shares of the company’s stock worth $68,000 after acquiring an additional 534 shares during the period. AQR Capital Management LLC boosted its position in shares of Tyra Biosciences by 2.0% in the fourth quarter. AQR Capital Management LLC now owns 28,631 shares of the company’s stock worth $753,000 after acquiring an additional 562 shares during the last quarter. MetLife Investment Management LLC boosted its position in shares of Tyra Biosciences by 5.0% in the fourth quarter. MetLife Investment Management LLC now owns 15,356 shares of the company’s stock worth $404,000 after acquiring an additional 725 shares during the last quarter. Virtus Investment Advisers LLC boosted its position in shares of Tyra Biosciences by 6.7% in the fourth quarter. Virtus Investment Advisers LLC now owns 11,756 shares of the company’s stock worth $309,000 after acquiring an additional 741 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Tyra Biosciences by 5.8% in the fourth quarter. Deutsche Bank AG now owns 16,377 shares of the company’s stock worth $431,000 after acquiring an additional 894 shares during the last quarter. 84.14% of the stock is currently owned by hedge funds and other institutional investors.

Tyra Biosciences Company Profile

Tyra Biosciences (NASDAQ: TYRA) is a clinical-stage precision oncology company focused on the discovery and development of small-molecule therapies for genetically defined cancers. The company integrates bioinformatics, molecular biology and medicinal chemistry to identify oncogenic drivers and design targeted inhibitors. By leveraging large-scale genomic datasets and functional screening, Tyra Biosciences aims to advance therapies that address patient populations with high unmet medical need.

The company’s pipeline includes multiple programs at various stages of development, each directed against distinct molecular vulnerabilities in cancer cells.