Wedbush Issues Positive Forecast for Tyra Biosciences (NASDAQ:TYRA) Stock Price

Tyra Biosciences (NASDAQ:TYRA) had its target price lifted by stock analysts at Wedbush from $53.00 to $57.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Wedbush‘s price objective indicates a potential upside of 171.43% from the stock’s previous close.

A number of other equities analysts have also recently commented on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $40.00 target price (down from $50.00) on shares of Tyra Biosciences in a report on Tuesday, September 22nd. Raymond James Financial reiterated a “strong-buy” rating and set a $50.00 price target on shares of Tyra Biosciences in a research note on Tuesday, October 6th. William Blair upgraded shares of Tyra Biosciences to a “strong-buy” rating in a research note on Wednesday, September 23rd. Piper Sandler reissued an “overweight” rating and set a $56.00 price objective on shares of Tyra Biosciences in a research report on Tuesday, September 8th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Tyra Biosciences in a research note on Thursday, September 10th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Tyra Biosciences has an average rating of “Moderate Buy” and an average price target of $47.40.

Tyra Biosciences Stock Performance

TYRA opened at $21.00 on Wednesday. Tyra Biosciences has a one year low of $13.83 and a one year high of $40.65. The stock has a market capitalization of $1.25 billion, a P/E ratio of -8.75 and a beta of 0.65. The business’s 50-day simple moving average is $22.04 and its 200-day simple moving average is $29.54.

Tyra Biosciences (NASDAQ:TYRA) last released its quarterly earnings results on Tuesday, November 10th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.07). On average, equities research analysts forecast that Tyra Biosciences will post -2.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TYRA. Bank of America Corp DE acquired a new stake in shares of Tyra Biosciences during the second quarter worth $11,170,000. Walleye Capital LLC purchased a new position in Tyra Biosciences in the 2nd quarter valued at $11,112,000. 5AM Venture Management LLC purchased a new position in Tyra Biosciences in the 2nd quarter valued at $32,875,778. The Manufacturers Life Insurance Company acquired a new position in Tyra Biosciences in the 2nd quarter valued at $1,416,000. Finally, Squarepoint Ops LLC increased its stake in Tyra Biosciences by 211.3% in the 2nd quarter. Squarepoint Ops LLC now owns 63,805 shares of the company’s stock valued at $2,038,000 after buying an additional 43,311 shares during the period. Institutional investors and hedge funds own 84.14% of the company’s stock.

About Tyra Biosciences

Tyra Biosciences, Inc. is a clinical-stage biopharmaceutical company developing precision medicines for genetically defined diseases. Its research focuses on small-molecule therapies that target the fibroblast growth factor receptor (FGFR) family and related pathways, using a drug-discovery approach designed to address resistance and selectivity challenges. The company’s pipeline includes TYRA-300, a selective FGFR3 inhibitor being studied for conditions including achondroplasia and urothelial cancer, and TYRA-200, an FGFR inhibitor being developed for certain cancers.