Tyra Biosciences, Inc. (NASDAQ:TYRA) Stock Has Average Price Target of $47.20

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) have received an average rating of “Moderate Buy” from the fifteen research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, eleven have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $47.20.

A number of research analysts recently commented on TYRA shares. Piper Sandler restated an “overweight” rating and issued a $56.00 target price on shares of Tyra Biosciences in a research note on Tuesday, September 8th. Jefferies Financial Group reiterated a “buy” rating and set a $42.00 price target on shares of Tyra Biosciences in a research note on Wednesday, August 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tyra Biosciences in a research note on Thursday, October 15th. William Blair raised shares of Tyra Biosciences to a “strong-buy” rating in a report on Wednesday, September 23rd. Finally, HC Wainwright dropped their price objective on shares of Tyra Biosciences from $30.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, September 22nd.

Institutional Trading of Tyra Biosciences

Several hedge funds have recently modified their holdings of TYRA. Sterling Capital Management LLC grew its stake in shares of Tyra Biosciences by 843.4% during the third quarter. Sterling Capital Management LLC now owns 1,217 shares of the company’s stock valued at $27,000 after purchasing an additional 1,088 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new stake in shares of Tyra Biosciences in the first quarter valued at approximately $30,000. State of Wyoming acquired a new stake in shares of Tyra Biosciences in the second quarter valued at approximately $76,000. Caitong International Asset Management Co. Ltd bought a new position in Tyra Biosciences in the 4th quarter worth approximately $79,000. Finally, Canada Pension Plan Investment Board bought a new position in Tyra Biosciences in the 2nd quarter worth approximately $230,000. Institutional investors and hedge funds own 84.14% of the company’s stock.

Tyra Biosciences Price Performance

NASDAQ:TYRA opened at $20.87 on Tuesday. Tyra Biosciences has a 12 month low of $13.35 and a 12 month high of $40.65. The company’s 50 day moving average is $23.31 and its 200-day moving average is $28.89.

Tyra Biosciences (NASDAQ:TYRA) last released its earnings results on Tuesday, August 4th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.04). Sell-side analysts forecast that Tyra Biosciences will post -2.68 EPS for the current year.

Tyra Biosciences Company Profile

Tyra Biosciences, Inc is a clinical-stage biotechnology company focused on developing precision medicines for patients with cancer and other diseases driven by fibroblast growth factor receptor (FGFR) abnormalities. The company uses its proprietary SNÅP platform to discover and design small-molecule therapies intended to selectively target FGFR alterations while addressing mechanisms of treatment resistance.

Tyra’s lead program, TYRA-300, is an oral, selective FGFR3 inhibitor being evaluated in clinical studies for FGFR3-altered urothelial cancer and other potential indications.