Tyra Biosciences (NASDAQ:TYRA) Earns Buy Rating from Analysts at JonesTrading

Equities researchers at JonesTrading started coverage on shares of Tyra Biosciences (NASDAQ:TYRA) in a report issued on Wednesday,Benzinga reports. The brokerage set a “buy” rating and a $56.00 price target on the stock. JonesTrading’s price target suggests a potential upside of 93.17% from the company’s current price.

A number of other brokerages also recently weighed in on TYRA. HC Wainwright reaffirmed a “buy” rating and issued a $45.00 target price on shares of Tyra Biosciences in a research note on Thursday, May 14th. Canaccord Genuity Group assumed coverage on Tyra Biosciences in a research report on Monday, April 6th. They issued a “buy” rating and a $50.00 target price for the company. Bank of America boosted their price target on shares of Tyra Biosciences from $37.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Wolfe Research started coverage on Tyra Biosciences in a report on Tuesday, May 19th. They set a “peer perform” rating for the company. Finally, Piper Sandler raised their target price on Tyra Biosciences from $42.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, March 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.00.

Tyra Biosciences Stock Performance

Shares of NASDAQ:TYRA traded up $0.78 on Wednesday, hitting $28.99. The company’s stock had a trading volume of 24,498 shares, compared to its average volume of 938,962. Tyra Biosciences has a 12 month low of $8.98 and a 12 month high of $40.65. The stock’s 50-day moving average is $33.23 and its two-hundred day moving average is $31.15. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of -13.30 and a beta of 0.75.

Tyra Biosciences (NASDAQ:TYRA) last issued 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). Equities analysts expect that Tyra Biosciences will post -2.69 earnings per share for the current fiscal year.

Insider Activity

In other Tyra Biosciences news, Director Gilla Kaplan sold 14,295 shares of the firm’s stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $36.97, for a total value of $528,486.15. Following the transaction, the director directly owned 28,231 shares of the company’s stock, valued at $1,043,700.07. This trade represents a 33.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC boosted 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 buying an additional 955,147 shares in the last quarter. Commodore Capital LP raised its position in shares of Tyra Biosciences by 8.9% in the 3rd quarter. Commodore Capital LP now owns 3,375,000 shares of the company’s stock valued at $47,216,000 after purchasing an additional 275,000 shares in the last quarter. Farallon Capital Management LLC grew its position in shares of Tyra Biosciences by 80.7% in the 4th quarter. Farallon Capital Management LLC now owns 2,066,818 shares of the company’s stock worth $54,337,000 after acquiring an additional 923,000 shares in the last quarter. Vanguard Group Inc. boosted 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 valued at $21,267,000 after acquiring an additional 118,492 shares during the period. Finally, 5AM Venture Management LLC increased its stake in shares of 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 purchasing an additional 90,000 shares during the period. Institutional investors and hedge funds own 84.14% of the company’s stock.

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.