Tyra Biosciences, Inc. (NASDAQ:TYRA) Receives $47.00 Consensus Target Price from Analysts

Tyra Biosciences, Inc. (NASDAQ:TYRA) has earned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $47.00.

Several research firms recently commented on TYRA. Canaccord Genuity Group began coverage on Tyra Biosciences in a research note on Monday, April 6th. They issued a “buy” rating and a $50.00 price target on the stock. Wolfe Research initiated coverage on Tyra Biosciences in a research note on Tuesday, May 19th. They set a “peer perform” rating for the company. JonesTrading assumed coverage on Tyra Biosciences in a report on Wednesday, June 17th. They set a “buy” rating and a $56.00 price objective on the stock. Bank of America upped their target price on Tyra Biosciences from $37.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Tyra Biosciences in a research report on Monday, April 20th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC increased its position in shares of Tyra Biosciences by 32.5% in the 1st quarter. Janus Henderson Group PLC now owns 3,890,589 shares of the company’s stock worth $148,867,000 after purchasing an additional 955,147 shares during the last quarter. Commodore Capital LP lifted its position in shares of Tyra Biosciences by 8.9% during the third quarter. Commodore Capital LP now owns 3,375,000 shares of the company’s stock worth $47,216,000 after purchasing an additional 275,000 shares during the last quarter. Farallon Capital Management LLC grew its stake in Tyra Biosciences by 80.7% in the fourth quarter. Farallon Capital Management LLC now owns 2,066,818 shares of the company’s stock worth $54,337,000 after purchasing an additional 923,000 shares in the last quarter. Vanguard Group Inc. grew its stake in Tyra Biosciences by 8.5% in the third quarter. Vanguard Group Inc. now owns 1,520,185 shares of the company’s stock worth $21,267,000 after purchasing an additional 118,492 shares in the last quarter. Finally, 5AM Venture Management LLC increased its holdings in Tyra Biosciences by 9.6% in the fourth quarter. 5AM Venture Management LLC now owns 1,029,298 shares of the company’s stock valued at $27,060,000 after buying an additional 90,000 shares during the last quarter. 84.14% of the stock is owned by institutional investors and hedge funds.

Tyra Biosciences Price Performance

NASDAQ TYRA opened at $32.13 on Friday. The firm has a market capitalization of $1.91 billion, a P/E ratio of -14.74 and a beta of 0.76. Tyra Biosciences has a 1-year low of $9.96 and a 1-year high of $40.65. The business’s 50-day simple moving average is $31.16 and its 200-day simple moving average is $32.38.

Tyra Biosciences (NASDAQ:TYRA) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.04). On average, equities research analysts expect that Tyra Biosciences will post -2.68 EPS for the current fiscal 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.