Tyra Biosciences, Inc. (NASDAQ:TYRA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Tyra Biosciences, Inc. (NASDAQ:TYRA) has been assigned an average rating of “Moderate Buy” from the fourteen research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $46.00.

A number of equities analysts have weighed in on the stock. Canaccord Genuity Group initiated coverage on shares of Tyra Biosciences in a research note on Monday, April 6th. They issued a “buy” rating and a $50.00 target price for the company. Bank of America increased their price target on shares of Tyra Biosciences from $37.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Cantor Fitzgerald assumed coverage on shares of Tyra Biosciences in a research report on Tuesday, February 24th. They issued an “overweight” rating for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tyra Biosciences in a report on Monday, April 20th. Finally, HC Wainwright reiterated a “buy” rating and issued a $45.00 price objective on shares of Tyra Biosciences in a research report on Thursday, May 14th.

Insider Activity

In other news, Director Gilla Kaplan sold 14,295 shares of the company’s stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $36.97, for a total transaction of $528,486.15. Following the transaction, the director owned 28,231 shares of the company’s stock, valued at $1,043,700.07. This represents a 33.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 12.50% of the stock is owned by company insiders.

Institutional Trading of Tyra Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in TYRA. Mirae Asset Global Investments Co. Ltd. lifted its position in 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 valued at $68,000 after purchasing an additional 534 shares during the period. AQR Capital Management LLC grew its position in shares of Tyra Biosciences by 2.0% during the 4th quarter. AQR Capital Management LLC now owns 28,631 shares of the company’s stock worth $753,000 after buying an additional 562 shares during the period. MetLife Investment Management LLC grew its position in shares of Tyra Biosciences by 5.0% during the 4th quarter. MetLife Investment Management LLC now owns 15,356 shares of the company’s stock worth $404,000 after buying an additional 725 shares during the period. Virtus Investment Advisers LLC raised its stake in shares of Tyra Biosciences by 6.7% during the fourth quarter. Virtus Investment Advisers LLC now owns 11,756 shares of the company’s stock worth $309,000 after buying an additional 741 shares during the last quarter. Finally, Hilton Head Capital Partners LLC bought a new stake in shares of Tyra Biosciences during the first quarter worth approximately $30,000. 84.14% of the stock is owned by institutional investors.

Tyra Biosciences Stock Up 5.8%

Tyra Biosciences stock opened at $28.55 on Tuesday. The stock has a 50-day simple moving average of $33.46 and a 200 day simple moving average of $31.11. Tyra Biosciences has a 12-month low of $8.98 and a 12-month high of $40.65. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of -13.10 and a beta of 0.75.

Tyra Biosciences (NASDAQ:TYRA) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.04). As a group, sell-side analysts anticipate that Tyra Biosciences will post -2.69 EPS for the current year.

About Tyra Biosciences

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.