Tyra Biosciences, Inc. (NASDAQ:TYRA) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Tyra Biosciences, Inc. (NASDAQ:TYRA) have been assigned an average rating of “Moderate Buy” from the fourteen research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $46.89.

Several research firms have recently weighed in on TYRA. Weiss Ratings reissued a “sell (d-)” rating on shares of Tyra Biosciences in a research note on Friday, July 17th. Wedbush reaffirmed an “outperform” rating and set a $53.00 price objective on shares of Tyra Biosciences in a research note on Thursday, September 10th. Bank of America increased their price objective on shares of Tyra Biosciences from $37.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. JonesTrading started coverage on Tyra Biosciences in a report on Wednesday, June 17th. They set a “buy” rating and a $56.00 target price on the stock. Finally, Jefferies Financial Group restated a “buy” rating and issued a $42.00 price target on shares of Tyra Biosciences in a research report on Wednesday, August 5th.

Tyra Biosciences Price Performance

NASDAQ TYRA opened at $21.98 on Friday. The stock’s 50 day simple moving average is $26.41 and its 200-day simple moving average is $30.96. The company has a market cap of $1.31 billion, a PE ratio of -9.16 and a beta of 0.73. Tyra Biosciences has a 1-year low of $12.98 and a 1-year high of $40.65.

Tyra Biosciences (NASDAQ:TYRA) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.65) by ($0.04). On average, equities research analysts anticipate that Tyra Biosciences will post -2.68 EPS for the current fiscal year.

Institutional Trading of Tyra Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of TYRA. Janus Henderson Group PLC boosted its position in shares of Tyra Biosciences by 32.5% during the 1st quarter. Janus Henderson Group PLC now owns 3,890,589 shares of the company’s stock valued at $148,867,000 after acquiring an additional 955,147 shares during the last quarter. Jupiter Topco LLC acquired a new stake in Tyra Biosciences during the second quarter worth about $139,161,000. BlackRock Inc. acquired a new stake in Tyra Biosciences during the second quarter worth about $96,841,000. 5AM Venture Management LLC purchased a new position in Tyra Biosciences during the second quarter worth about $32,875,778. Finally, Jennison Associates LLC acquired a new position in Tyra Biosciences in the 1st quarter valued at about $24,222,000. 84.14% of the stock is owned by institutional investors and hedge funds.

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.