Tyra Biosciences' (TYRA) "Outperform" Rating Reaffirmed at Wedbush

Wedbush restated their outperform rating on shares of Tyra Biosciences (NASDAQ:TYRA - Free Report) in a report released on Friday morning, Benzinga reports. Wedbush currently has a $28.00 target price on the stock.

Several other research analysts have also recently weighed in on TYRA. Bank of America upgraded Tyra Biosciences from a "neutral" rating to a "buy" rating and lifted their price target for the company from $22.00 to $31.00 in a research report on Friday, October 18th. Oppenheimer raised their price objective on Tyra Biosciences from $25.00 to $33.00 and gave the company an "outperform" rating in a report on Thursday, September 19th. Piper Sandler began coverage on Tyra Biosciences in a report on Thursday, August 15th. They issued an "overweight" rating and a $33.00 price objective on the stock. Finally, HC Wainwright raised their price objective on Tyra Biosciences from $25.00 to $30.00 and gave the company a "buy" rating in a report on Monday, October 7th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $31.00.

Tyra Biosciences Price Performance

TYRA stock traded down $6.68 during trading on Friday, hitting $21.93. 2,482,016 shares of the company traded hands, compared to its average volume of 166,105. The stock's 50-day simple moving average is $22.88 and its 200 day simple moving average is $19.79. The company has a market cap of $1.16 billion, a PE ratio of -13.89 and a beta of 1.01. Tyra Biosciences has a 1 year low of $10.38 and a 1 year high of $29.60.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.09. Research analysts expect that Tyra Biosciences will post -1.53 earnings per share for the current year.

Insider Transactions at Tyra Biosciences

In other news, CEO Todd Harris sold 10,092 shares of Tyra Biosciences stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $24.13, for a total value of $243,519.96. Following the sale, the chief executive officer now directly owns 1,479,528 shares of the company's stock, valued at $35,701,010.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 61,403 shares of company stock valued at $1,582,774 over the last ninety days. Insiders own 15.40% of the company's stock.

Hedge Funds Weigh In On Tyra Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. acquired a new position in Tyra Biosciences during the first quarter worth $977,000. Vanguard Group Inc. boosted its stake in Tyra Biosciences by 18.6% during the first quarter. Vanguard Group Inc. now owns 899,800 shares of the company's stock worth $14,757,000 after buying an additional 140,833 shares during the last quarter. American Century Companies Inc. boosted its stake in Tyra Biosciences by 582.9% during the second quarter. American Century Companies Inc. now owns 170,283 shares of the company's stock worth $2,723,000 after buying an additional 145,346 shares during the last quarter. Perceptive Advisors LLC boosted its stake in Tyra Biosciences by 50.5% during the second quarter. Perceptive Advisors LLC now owns 1,007,367 shares of the company's stock worth $16,108,000 after buying an additional 338,208 shares during the last quarter. Finally, Ensign Peak Advisors Inc acquired a new position in Tyra Biosciences during the second quarter worth $3,047,000. 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.