HC Wainwright Cuts Tyra Biosciences (NASDAQ:TYRA) Price Target to $30.00

Tyra Biosciences (NASDAQ:TYRA) had its price objective lowered by HC Wainwright from $45.00 to $30.00 in a research report sent to investors on Thursday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

A number of other brokerages also recently commented on TYRA. JonesTrading started coverage on shares of Tyra Biosciences in a research note on Wednesday, June 17th. They issued a “buy” rating and a $56.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tyra Biosciences in a research note on Friday, July 17th. Piper Sandler reiterated an “overweight” rating and issued a $56.00 price target on shares of Tyra Biosciences in a report on Tuesday. Bank of America increased their price objective on Tyra Biosciences from $37.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Finally, Wolfe Research initiated coverage on Tyra Biosciences in a report on Tuesday, May 19th. They set a “peer perform” rating on the stock. Eleven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.88.

Tyra Biosciences Trading Down 6.4%

NASDAQ:TYRA opened at $22.03 on Thursday. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -9.18 and a beta of 0.73. Tyra Biosciences has a twelve month low of $11.82 and a twelve month high of $40.65. The stock has a fifty day simple moving average of $28.39 and a 200-day simple moving average of $31.84.

Tyra Biosciences (NASDAQ:TYRA) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.04). As a group, equities research analysts predict that Tyra Biosciences will post -2.74 EPS for the current fiscal year.

Institutional Investors Weigh In On Tyra Biosciences

Large investors have recently modified their holdings of the business. Millennium Management LLC lifted its position in shares of Tyra Biosciences by 28.2% in the 1st quarter. Millennium Management LLC now owns 404,165 shares of the company’s stock worth $3,759,000 after purchasing an additional 89,024 shares during the period. Goldman Sachs Group Inc. increased its holdings in Tyra Biosciences by 21.7% during the first quarter. Goldman Sachs Group Inc. now owns 78,006 shares of the company’s stock valued at $725,000 after buying an additional 13,896 shares during the period. Woodline Partners LP bought a new position in Tyra Biosciences in the first quarter worth approximately $931,000. Jane Street Group LLC bought a new position in Tyra Biosciences in the first quarter worth approximately $324,000. Finally, Geode Capital Management LLC lifted its holdings in Tyra Biosciences by 9.8% during the second quarter. Geode Capital Management LLC now owns 567,126 shares of the company’s stock worth $5,428,000 after buying an additional 50,836 shares during the period. Institutional investors own 84.14% of the company’s stock.

Key Tyra Biosciences News

Here are the key news stories impacting Tyra Biosciences this week:

• Positive Sentiment: Initial SURF302 results support further development of dabogratinib in bladder cancer, providing evidence of potential activity for Tyra’s lead program. The Pharma Letter article
• Positive Sentiment: Wedbush reaffirmed its “Outperform” rating and maintained a $53 price target, signaling substantial potential upside if the clinical program succeeds. Benzinga analyst rating report
• Positive Sentiment: Director Rehan Verjee purchased 972 shares for approximately $20,004 at an average price of $20.58. The insider purchase may be viewed as a signal of confidence, although its size is modest relative to the company’s market value. SEC insider ownership filing
• Neutral Sentiment: Reported short-interest data showed zero shares sold short and a zero-day short-interest ratio, but the figures appear anomalous and provide little useful information about trading sentiment.
• Negative Sentiment: Coverage indicated that bladder-cancer response rates from SURF302 were below investor expectations, creating uncertainty about dabogratinib’s commercial and regulatory potential. BioSpace article
• Negative Sentiment: HC Wainwright lowered its price target from $45 to $30, although it retained a “Buy” rating, reflecting reduced near-term expectations following the trial update. Benzinga analyst rating report
• Negative Sentiment: Pomerantz LLP announced an investigation into potential claims on behalf of TYRA investors, adding a legal and reputational overhang. The announcement did not establish wrongdoing by Tyra. Pomerantz investor alert

About Tyra Biosciences

Tyra Biosciences, Inc is a clinical-stage biotechnology company focused on developing precision medicines for diseases with limited treatment options. The company uses its proprietary SNÅP platform to design small-molecule therapies intended to selectively target disease-driving genetic alterations while addressing resistance mechanisms that can reduce the effectiveness of existing treatments.

Tyra’s lead programs are directed at fibroblast growth factor receptor (FGFR) biology. TYRA-300 is an oral, selective FGFR3 inhibitor being developed for conditions including FGFR3-altered urothelial cancer and achondroplasia, a genetic skeletal disorder.