Brokerages Set Tyra Biosciences, Inc. (NASDAQ:TYRA) Target Price at $31.00

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) have received an average recommendation of “Buy” from the six ratings firms that are covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $30.50.

TYRA has been the topic of a number of recent research reports. Oppenheimer raised their target price on Tyra Biosciences from $25.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. UBS Group began coverage on Tyra Biosciences in a report on Tuesday, January 7th. They set a “buy” rating and a $28.00 target price on the stock. HC Wainwright cut their target price on shares of Tyra Biosciences from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Wedbush restated an “outperform” rating and set a $28.00 price objective on shares of Tyra Biosciences in a report on Friday, October 25th. Finally, Bank of America raised Tyra Biosciences from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $22.00 to $31.00 in a research note on Friday, October 18th.

Tyra Biosciences Stock Down 4.8 %

TYRA opened at $15.20 on Tuesday. The company’s 50-day moving average price is $15.45 and its 200 day moving average price is $19.20. Tyra Biosciences has a fifty-two week low of $12.17 and a fifty-two week high of $29.60. The firm has a market cap of $769.17 million, a price-to-earnings ratio of -9.44 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 for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.01). Research analysts anticipate that Tyra Biosciences will post -1.57 earnings per share for the current year.

Insider Activity

In other Tyra Biosciences news, CEO Todd Harris sold 15,394 shares of Tyra Biosciences stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $25.85, for a total transaction of $397,934.90. Following the completion of the transaction, the chief executive officer now directly owns 1,418,647 shares of the company’s stock, valued at approximately $36,672,024.95. This trade represents a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nina S. Kjellson sold 11,078 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $16.17, for a total value of $179,131.26. Following the sale, the director now owns 472,207 shares in the company, valued at approximately $7,635,587.19. This trade represents a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 84,160 shares of company stock worth $1,827,047. 15.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tyra Biosciences

Several institutional investors have recently modified their holdings of the business. HighVista Strategies LLC acquired a new stake in shares of Tyra Biosciences during the second quarter worth $257,000. Franklin Resources Inc. bought a new position in Tyra Biosciences during the third quarter worth about $278,000. Valence8 US LP bought a new position in shares of Tyra Biosciences during the 3rd quarter valued at about $310,000. SG Americas Securities LLC acquired a new stake in Tyra Biosciences during the 3rd quarter worth approximately $311,000. Finally, The Manufacturers Life Insurance Company bought a new position in Tyra Biosciences in the third quarter valued at approximately $333,000. Institutional investors and hedge funds own 84.14% of the company’s stock.

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.