Wedbush Reiterates Outperform Rating for Tyra Biosciences (NASDAQ:TYRA)

Tyra Biosciences (NASDAQ:TYRA - Get Free Report)'s stock had its "outperform" rating reaffirmed by stock analysts at Wedbush in a research report issued on Friday,RTT News reports. They currently have a $30.00 price target on the stock. Wedbush's price objective suggests a potential upside of 244.04% from the stock's current price. Wedbush also issued estimates for Tyra Biosciences' FY2029 earnings at ($0.91) EPS.

Other research analysts have also issued reports about the stock. HC Wainwright reaffirmed a "buy" rating and issued a $30.00 price objective on shares of Tyra Biosciences in a research note on Tuesday, February 18th. UBS Group began coverage on shares of Tyra Biosciences in a research report on Tuesday, January 7th. They issued a "buy" rating and a $28.00 price target on the stock. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $30.83.

Tyra Biosciences Stock Performance

Shares of TYRA stock traded down $0.58 during trading hours on Friday, hitting $8.72. 734,368 shares of the company were exchanged, compared to its average volume of 235,002. Tyra Biosciences has a fifty-two week low of $8.67 and a fifty-two week high of $29.60. The company has a 50 day simple moving average of $12.18 and a two-hundred day simple moving average of $16.13. The firm has a market cap of $441.26 million, a P/E ratio of -5.42 and a beta of 1.09.

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Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last announced its quarterly earnings data on Thursday, March 27th. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.05. As a group, sell-side analysts expect that Tyra Biosciences will post -1.57 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Nina S. Kjellson sold 3,993 shares of Tyra Biosciences stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $16.36, for a total value of $65,325.48. Following the completion of the transaction, the director now directly owns 3,707,420 shares in the company, valued at approximately $60,653,391.20. The trade was a 0.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders sold 21,998 shares of company stock valued at $344,818. 15.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Tyra Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of TYRA. Janus Henderson Group PLC purchased a new position in Tyra Biosciences during the third quarter worth about $24,994,000. Rhumbline Advisers increased its holdings in shares of Tyra Biosciences by 4.1% in the 4th quarter. Rhumbline Advisers now owns 26,202 shares of the company's stock worth $364,000 after buying an additional 1,027 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Tyra Biosciences during the 3rd quarter worth $593,000. Barclays PLC increased its position in shares of Tyra Biosciences by 200.5% during the 3rd quarter. Barclays PLC now owns 37,625 shares of the company's stock valued at $884,000 after purchasing an additional 25,106 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Tyra Biosciences by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 368,647 shares of the company's stock valued at $8,667,000 after purchasing an additional 3,896 shares in the last quarter. 84.14% of the stock is owned by hedge funds and other institutional investors.

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.